Earlier this week, Corporate One announced a new partnership with Lockton Companies (Lockton), a world leader in the insurance/bond industry, to provide insurance and bond coverage to its credit unions. As part of our partnership, Corporate One is pleased to be able to extend this program offering to Alliance One participants as well. Offerings available through the new Insurance & Bond Services program include Directors’ and Officers’ Liability, Property, General Liability, Workers’ Compensation, Plastic Card, Mortgage Impairment/E&O and Umbrella coverage.
The partnership with Lockton provides Alliance One participants no-cost/no-obligation extensive risk/gap analysis performed by licensed insurance representatives. These analyses become an integral part of helping a credit union identify any gaps or issues in their risk profile, benchmark against other credit unions, and compare their existing coverage to other insurance and bond options available in the marketplace. Following the risk review process, Lockton will obtain alternative coverage solutions from an array of best-in-class insurance markets and tailor a solution for each individual credit union. This process helps credit unions gain a better understanding of their insurance coverage and satisfy their fiduciary duty to their members and regulators.
As a successful independent broker, Lockton works with some of the largest and most trusted insurance companies in the world. To provide the best coverage possible for its clients, Lockton works with names like Traveler’s, Chubb, CNAl and FinSecure, to name a few. In addition to working with best-in-class insurance companies, Alliance One participants taking advantage of the Lockton program will realize three key benefits to taking advantage of the free risk review process. These include:
- Education and Due Diligence – With a complimentary risk/gap analysis provide by Lockton, your credit union can better understand its coverage and fulfill its vendor review requirements for your regulator/board.
- Objective Advice – As Lockton evaluates multiple insurance companies, they can find the right solution for your credit union. If you’re currently working with an insurer that only offers a single solution, you’re not benefitting from the type of analysis that an independent advisor can provide.
- Preferential Group Rates – Group buying power enables Lockton to negotiate better terms and pricing for everyone.
If you’re interested in a no-cost/no obligation review of your credit union’s insurance and/or bond coverage, or if you want to learn more about the program, we’ve set up a special toll-free phone number. Visit Corporate One's Web site or contact us at 877/611-5952 to learn more about how our new partnership with Lockton can assist your credit union with your insurance and bond coverage needs.
Corporate One is proud to provide Insurance & Bond Services as a new offering, and we look forward to enhancing the value of your participation in Alliance One even further through this solution.