Financial Institutions Risk Solutions
Financial institutions operate in a complex, highly regulated environment where risk exposure can evolve rapidly. Our Financial Institutions Practice Group partners with firms at every stage of growth to protect leadership, operations, and assets through tailored insurance and risk management solutions.
We work with established firms, start ups, and breakaway teams across the financial community, leveraging deep industry expertise and strong carrier relationships to design coverage that aligns with your business objectives and regulatory obligations.
Our nationally recognized team combines specialized expertise in financial services risk with a hands-on, consultative approach tailored to your organization’s unique needs. As an independent advisor, we provide objective, unbiased insurance guidance and access to competitive, best-in-class coverage solutions from leading carriers. We partner with you beyond policy placement, offering ongoing strategic advice informed by evolving industry trends and regulatory developments. The result is a customized risk management program designed to protect your organization while providing confidence, continuity, and peace of mind.
Coverage options can include:
Insurance Solutions
Errors & Omissions (Professional Liability)
Protects your firm and professionals against claims alleging errors, negligence, or omissions in the performance of professional services. Coverage includes defense costs, which can be significant even in unfounded claims.
Directors & Officers Liability
Designed to safeguard directors, officers, and the organization against claims alleging breaches of duty, errors in judgment, failure to supervise, and other wrongful acts. Coverage extends to both defense costs and damages.
Crime / Fidelity Bonds
Provides protection against losses resulting from fraudulent or criminal acts committed by employees or third parties, including employee theft, system breaches, and fraudulent funds transfers. Policies may be endorsed to include coverage for social engineering fraud.
Employment Practices Liability
Covers claims brought by employees, former employees, or applicants alleging wrongful termination, discrimination, harassment, retaliation, or violations of employment related laws. Coverage may also extend to third party claims.
Cyber Risk Insurance
Protects against losses arising from data breaches and cyber incidents involving personally identifiable information. Coverage includes notification costs, credit monitoring, public relations expenses, cyber extortion, and defense of third party claims.
ERISA Bonds
Required under ERISA for fiduciaries who manage or handle plan assets. ERISA bonds protect employee benefit plans against losses due to fraud or dishonesty.
Fiduciary Liability Insurance
Provides coverage for claims alleging mismanagement of employee benefit plans, protecting both the organization and individuals acting in a fiduciary capacity.
CCOProtectTM
A specialized solution designed exclusively for Chief Compliance Officers. CCOProtect™ safeguards the personal assets of the CCO in the event of litigation or regulatory investigations and responds when the firm cannot or will not indemnify.
Kidnap & Ransom
K&R protects against financial loss from kidnap, ransom & extortion. Expansive coverage protects all employees of the company, family members, etc.
Worker’s Compensation
Commonly mandated at the state level, provides medical expenses, lost wages, and rehabilitation costs for employees who are injured or otherwise incapacitated on the job.
BOP (Business Owner’s Policy)
For small to mid-size businesses. Combines property damage and general liability (“slip and fall”) onto one policy.
Umbrella Policy
Additional liability insurance which provides higher limits above and beyond the Business Owner’s Policy. Can also be written on a personal basis.
Key Person Policy
A life insurance policy that helps mitigate the financial impact to a business if said individual is lost due to death or disability.
Solutions for:
Our Financial Institutions Practice Group supports a wide range of financial services organizations, including:
Investment Advisers
Private Equity Firms
Hedge Funds
Private Funds
Securities Broker Dealers
Mutual Fund Groups
Banks and Credit Unions
Venture Capital
Team section
Ready to strengthen your organization’s risk management strategy? Our Financial Institutions Practice Group is here to help you navigate today’s complex risk landscape with specialized expertise, strategic guidance, and customized insurance solutions designed for your unique needs. Whether you’re evaluating your current program, planning for future growth, or addressing emerging regulatory and operational challenges, our experienced advisors are ready to partner with you. Contact us today to discuss how our Financial Institutions Practice Group can support your firm’s long-term success and help build a more resilient future.
A Reputation Built on Trust
We’ve built a strong reputation for service, professionalism, and responsiveness.
Our manufacturing facility has worked with Mike Prentiss for a number of years. Before we started doing buiness, our instance package was not up to par and needed help. Mike jumped in and needed help Mike jumped in and fine-tuned our coverage. His sense of urgency and knowledge of the insurance industry, particularly in the manufacturing area, are second to none. We could not be happier with the service, value and comfort knowing that we are in good hands.
Aviation Parts Manufacturer
I have had the pleasure of working with Mike Prentiss since 2020. His knowledge and expertise are second to none. Mike and the team at Starkweather & Shepley always respond quickly and are always there to help with my many questions and requests. I highly recommend them!
Callie Lee
Been using them for my insurance needs for 4 years and always there when you need them.
Joshua Evon
