Hartford targets midsize financial services companies.Do automatic teller machines See ATM. need specialized insurance? They sure do. Recognizing that midsize banks, credit unions, investment firms and insurance companies have a range of specialized insurance needs--from property coverage for ATMs, foreclosed buildings and repossessed automobiles, to professional liability coverage for banks, investment advisers and insurance carriers--The Hartford Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Group Inc. offers a tailored package of coverages to address the specific exposures the more than 41,000 midsize financial services firms located nationwide representing an estimated $2.1 billion in annual income are most likely to face. The Hartford's program is designed for banks and credit unions with less than $2 billion in assets, investment firms with less than $2 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. , and insurance companies with less than $2 billion in written premium. The Hartford's program offers broad standard commercial lines coverage, including property, mechanical breakdown, general liability, auto, workers compensation and umbrella coverage, in addition to several industry-specific coverages, such as foreclosure, trust, repossession The taking back of an item that has been sold on credit and delivered to the purchaser because the payments have not been made on it. For example, if an individual fails to render prompt payments on a new car, the car might be subject to repossession by the finance company, and mortgage insurance. The Hartford also offers a wide range of management liability coverages through its Hartford Financial Products division. These coverages include directors and officers insurance, errors and omissions errors and omissions n. short-hand for malpractice insurance which gives physicians, attorneys, architects, accountants and other professionals coverage for claims by patients and clients for alleged professional errors and omissions which amount to negligence. coverage, employment practices and fiduciary liability insurance. The Hartford's Fidelity & Bonding unit offers financial institution bonds, which provide protection against catastrophic losses due to employee dishonesty, forgery and computer fraud. The Hartford also offers products to meet commercial surety needs. International coverage, including property, general liability, foreign voluntary workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. , employer's liability and kidnap and extortion, is available through International Advantage, an ACE American insurance policy. This policy is made possible through a strategic alliance with ACE USA US International, a unit of The ACE Group of Insurance and Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. Cos. The Hartford's expanded coverages for financial services providers are currently available in most states. Agents can access information via The Hartford's electronic business center http://ebc.thehartford.com. |
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