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Non-Bank Lender Management Professional Liability - California Financial Services Provider Association

FGIB:Offering Non-Bank Lender Management Professional Liability Insurance

Financial Guaranty Insurance Brokers (FGIB) offers an exclusively endorsed, competitively priced, Management Professional Liability to non-bank lenders, such as community based financial institutions. This can include businesses offering capital extensions of credit, loan servicing, installment loans, title loans, payday loans, or incidental insurance services related to the issuance of a loan.

Launched at the annual California Financial Services Provider Association

At Financial Guaranty Insurance Brokers (FGIB), we provide our non-bank lending clients with a comprehensive Management Professional Liability insurance program that includes Lender Liability, Professional Services Liability, and Directors and Officers Liability. Basically, Management Professional Liability insurance provides protection to non-bank lending firms against certain losses that arise due to errors, omissions, misstatements and other acts as outlined in the policy. While professional liability insurance, also known as E & O insurance is designed to cover your business if you were to be sued for negligent performance of services. This particular program is specifically designed for non-bank lenders.

When it comes to Management Professional Liability it’s important to evaluate your limits and extent of coverage available. Some of the following options may be available, things like:

Failure to Fund.
Regulatory investigation costs, i.e. class action… NOT FOR FINES
Duty to defend, legal costs.
Unfair, Deceptive or Abusive Acts and Practices (UDAP)
$1 Million – $2 Million Policy Limits

FGIB will work with you help you make sure policy wording, extensions and limits are correct. You can download the application Non-Bank Lenders.

WHAT OUR CLIENTS ARE SAYING

“Words cannot express my sincere thanks to FGIB. In 2009 our bank was put into a regulatory C & D. Our Fidelity and D & O Bond was cancelled, without notice, from a company that the bank had been with for over 20 years. The cancellation shocked us, since we had an additional 17 months until the Bond’s expiration date.

It was an extremely difficult time for our bank. Fortunately, we were put in contact with FGIB. FGIB was able to find reasonable coverage for our Fidelity and D & O Bond, when no one else would. We have been a customer ever since. We appreciate FGIB’s honest, personal, and professional service.”

John G. Sorensen, Jr., President

Home Savings Bank

“We have known Financial Guaranty for more than ten years. They have proven to be an important resource and business partner for the bank, and have earned all of our business because of their knowledge of the market, great customer service, sound advice and outstanding staff. I have never hesitated to refer other financial professionals to FGIB because I know that FGIB can get the job done for them.”

Wes Schaefer

American Business Bank

Providing Solutions that Align with Your Business Needs

Our vast network of contacts, through industry organizations, long-established relationships and years of service to the financial industry and beyond, enables FGIB to sort through the complexity of choices to recognize the right fit for your organization. We know your industry and understand how to secure the appropriate insurance solutions. We are licensed in the majority of states and are ready to serve you. Give us a call at 626.793.3330.