MASTER TRUST PROGRAMS
SES partners with several industry-leading “A” rated carriers, including AM Best, to offer comprehensive Master Policies written in the name of the financial institution. The policies offer efficiency, consistency in coverage, broader terms, and are designed specifically for fiduciaries to cover residential, commercial, farm, and land asset types. Coverage also extends to personal property.
The package policy, with a broad named insured wording, offers property and liability for real and personal property assets. Earthquake and flood coverage are also available. The policy contains unique wording for trust relationships and coverage that mitigates loss for situations that are often unique to trust property.
EXCESS EARTHQUAKE AND FLOOD
Catastrophic perils under the master policies are written with annual aggregates. The total values of the property portfolio and geographical characteristics may result in a need for higher limits. SES has secured a follow form London program to offer higher catastrophic limits to better insulate property portfolios.
Higher liability limits over and above the master policy are available with the aggregate applying in the same manner as the primary, either per location or per trust basis. Coverage is follow form to the primary. The utilization of a separate excess liability policy offers greater protection from third party exposures for each fiduciary account and its assets. The coverage can act as a buffer between the master policy and corporate liability limits or replace corporate liability limits altogether.
OTHER PRODUCTS AND RELATED SERVICES
SES continues to evaluate ways to expand and enhance its offerings. We currently offer external policy tracking for a few clients and are exploring lender placed insurance solutions. If there’s an opportunity to add further value in the marketplace, we’re listening.