The Hartford Financial Services and Progressive are offering their insurance products for communtiy banks to each other’s independent agents and brokers.
The new alliance allows banks and their agents the option of getting all of their business insurance from one source.
Progressive Casualty Insurance Co. is the A+ rated underwriter for the American Banking Association-sponsored insurance program, which the insurer says currently provides professional liability and bond products to more than 1,700 community banks.
The Hartford, also an A+ rated carrier, offers banks industry-tailored property and casualty insurance that includes bank-specific coverages such as mortgage protection and foreclosed properties as well as standard-lines coverages like workers’ compensation, property and general liability.
“Agents can now write a complete insurance package through either company,” according to John Wells, director of Progressive’s Professional Liability Group,
Sources: The Hartford, Progressive
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