MASTER TRUST PROGRAMS
SES partners with several industry-leading “A” rated carriers 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 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 contemplates 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.
Additional liability limits over the master policy are available on an excess basis. Coverage is follow form to the primary (with some exclusions.) The utilization of a separate excess liability policy offers additional protection from third party exposures for a fiduciary’s trust asset portfolio. Excess Liability coverage can act as a buffer between the master trust policy and corporate umbrella liability limits or may replace corporate umbrella 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.