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Excess FDIC Coverage
Boston Insurance Brokerage LLC (BIB) has carriers that offer Depositor Bonds, allowing banks to offer deposit protection in excess of FDIC insurance coverage to its most valued clients. The ability to offer this protection allows banks to attract and retain their customers.
Highlights include:
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Streamlined application and underwriting process handled by experienced financial institution underwriters
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Banks may choose the limits and specific customers they want to protect and attract larger deposits
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Coverage is available for a single depositor, scheduled individual depositors, or a specific group, such as a homeowner’s association and complies with state regulations
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Avoid pledging securities to secure deposits and ease administrative time and resources
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Underwritten by A++ rated insurance carriers
For more information, please visit our Executive Liability & Cyber Division.
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