D&O insurance is the backbone of any community bank’s management
liability insurance program, but if it is suddenly withdrawn or
restricted, what’s your back-stop?
captive insurance plan like the one offered by First Monetary ("FM") can
provide a sound long term risk management solution. The FM wrap-around
program will step in to provide protection if primary protection is
lost; it will also supplement and complement the coverage that private
insurers may restrict or eliminate.
Reflect back to
1986, and consider the pressures that community bankers faced when
commercial insurance was not available for many institutions. Consider the
current regulatory issues facing community banks. Should the commercial
insurance market again become unwilling -- or unable -- to insure your
institution, having available capacity from a program like First Monetary’s could prove invaluable.
Registration for First Monetary's 28th
Annual Members Meeting --
23-25 June 2013 -- has commenced. Two
Bermuda symbols, the graceful longtail bird and
a Bermuda moongate are used to represent the
event that is held each year in Bermuda. A
Bermuda moongate is a coral-stone arch-shaped
like full moon and symbolises unity, peace and
longtail bird, is a symbol of beauty and
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Mutual, Ltd. (“FM”) traces its twenty-five year roots to just this kind
of crisis, and stands prepared to help again today. Membership is open
to any qualifying institution in the states of New York and
Pennsylvania, many of whom will attest to our proven track record and
the value proposition of our relationship.
FM shareholders gain
secure access to a predictable, stable source of coverage that’s
affordable, and ensures continuous protection if standard D&O coverage
is suddenly cancelled or withdrawn. Beyond this important peace-of-mind,
the program offers its members unique combination of risk management
benefits, the cumulative after-tax value of which exceeds current $3,500 annual
premium. Take a look at this list and judge for yourself.
MGIC PMI program with profit-sharing potential.
to key industry monitoring publications.
reinvestment in member institutions.
reimbursement for Bermuda shareholders meeting attendance.
membership in First Monetary puts the full power of
E-Board.com, a powerful,
secure, send-and-share document solution, at your fingertips.
Pre-configured to provide simple, low-cost and easy, anywhere access to
the management of your FM insurance plan, E-Board has built-in
extensibility features that can extend the equivalent benefits a
high-priced intranet to the rest of your organization.
With instability and
uncertainty still very much a part of today’s operating mix, the
importance of having and maintaining a ready-made alternative to the
vagaries of the financial and regulatory environment has regained
traction amongst growing numbers of community banking institutions.
Shouldn’t yours be one of them? We’d welcome the opportunity to
that discussion with you.