Specialty lenders

Tailored industry coverage

 

What are Specialty lenders?

Non-bank lenders that provide debt financing to a variety of industries or consumer types. Because specialty lenders often serve a borrower type that may not be able to obtain traditional bank financing, they may face more risk.

Capacity

$5M maximum limit.

Coverage & Benefits

Primary coverage includes:

  • Lender liability as well as liability for loan servicing.
  • Coverage for inquires of insured persons and for expenses related to crisis management is also provided .

Secondary coverage available for:

  • Cyber/Privacy to protect against data breaches and theft of sensitive information,
  • Directors & Officers coverage, offering coverage specific to executives and board members,
  • Employment Practices Liability to protect the company from lawsuits brought by employees,
  • Fiduciary covers the liabilities of those responsible for managing employee benefit plans, and
  • Employed Lawyers for in-house attorneys. 
FAQs
  • Do you have the ability to offer cyber coverage?

    Cyber can be included on this policy as a separate coverage part.
     

  • I already buy D&O, why do I need to buy E&O?

    D&O coverage generally excludes claims brought by customers or regulators alleging the failure to provide professional services. E&O is designed to provide that coverage.
     

  • Does your policy respond to an informal regulatory investigation?

    While informal investigations do not traditionally meet the definition of claim, our policy can provide defense coverage for insured persons to respond to informal regulatory investigations.
     

  • Does the policy cover any services beyond lending services?

    Our policy can be tailored to cover a variety of other services a specialty lender may provide.

Related products

Package Specialty lenders coverage with the following products: Cyber and Management Liability.

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Claims scenarios 

Not sure what risks our product covers? We’ve brought some scenarios to life.

Specialty lenders

A borrower sued the specialty lender who loaned them money to expand, alleging the lender interfered with their business by exerting too much control over operations. The lender was sued for damages and penalties.

Specialty lenders

A borrower sued the specialty lender who loaned them money to expand, alleging the lender interfered with their business by exerting too much control over operations. The lender was sued for damages and penalties.