Corporate Central Credit Union has announced that it haspartnered with Lockton, the world's largest privately ownedindependent insurance broker, to offer a comprehensive risksolutions program to credit unions.
|Included are coverage options for bonds, directors' andofficers' liability, property, liability and workers'compensation.
|The starting point, said Chris Felton, senior vicepresident-member relations for the Muskego, Wis.-based corporate, is a comprehensive, exhaustiveand no-cost analysis of a credit union's existingcoverage.
|“We have been through it ourselves. It requires work on thecredit union's part so it's not for everyone. But it can identifylarge gaps in existing coverage,” said Felton. Lockton then helpsidentify ways to fill those gaps but buying any policies isentirely volitional, said Felton.
|“In this industry nowadays it sometimes seems there is a lawsuitevery day,” added Felton. “Most credit unions don't look at thecoverage they have until they need it – and then they may find gapsthey didn't know existed. This analysis will help preventthat.”
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