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OUR PRODUCTS
Trust Package PoliciesSES has been instrumental in the creation of products that provide property systems breakdown, liability, earthquake and flood insurance coverage in package policies for financial institutions that are fiduciaries for real estate assets. These products enable a financial institution to make coverage consistently available at negotiated limits and rates.
Trust portfolios may range from a few assets to a few thousand assets, each providing its own set of challenges for acquiring coverage. Thousands of policies would present a significant dedication of time and resources to review for appropriate coverage, name change, renewal follow up, etc. A master trust policy minimizes that challenge.
Our current carrier offerings for the Master Trust policies are:
Zurich North AmericaSES has offered Zurich North America as a market for the Master Trust Policy since 2002. Coverage is written on Fidelity and Deposit Company of Maryland paper with a Best rating of A+.
They are headquartered in Baltimore, MD.
St. Paul TravelersSES began its relationship with St. Paul in 1995. St. Paul is headquartered in St. Paul, MN and
maintains a Best Rating of A+.
Chubb & SonThe relationship with Chubb began in 1997. Product is written on Federal Insurance Company paper with a Best Rating of A++.
They are headquartered in Warren, NJ.
Excess Flood and Earthquake PlacementsConcerns regarding catastrophic exposure have grown significantly. SES’s first placements were made primarily to expand capacity for larger sized portfolio. That focus has changed to address all sizes based on the values exposed in certain regions of the country. The collection of basic underwriting (COPE) information and it's availability in appropriate formats for underwriter review has been a positive by-product for clients who need to buy additional catastrophe coverage limits.
Excess LiabilityTraditionally, excess liability coverage is made available to trust clients in one of two ways:the bank's corporate umbrella; or individual policy purchases for each trust.
A new option is now available through SES. SES, with the support of two markets, now offers attractive pricing on blanket excess liability products for trust portfolios. Coverage can work as traditional excess or as a buffer layer under your corporate umbrella to afford even more coverage. This option provides consistency in limits, minimizes potential impact to aggregates, presents an appropriate expense to pass on to the individual trust accounts.