Financial Institution Services

Financial Products & Services, Inc. (Financial PSI) specializes in providing the most comprehensive insurance programs for banks. Financial PSI is a wholly owned subsidiary of the Tennessee Bankers Association and is endorsed by the North Carolina Bankers Association. 


For more than 30 years, Financial PSI has been involved with the design, implementation and service of bank programs.


Financial PSI specializes in finding the best insurance company and terms to match each financial institution's situation. Financial PSI also provides peer data to help banks understand what limits other banks of similar size purchase for Bond, D&O, and Cyber Liability coverage lines.

Product Offerings

Financial Institution Bond

This coverage is to insure banks and other financial institutions against employee dishonesty, burglary, robbery, fraud and other crime exposures.

  • Fidelity (Agreement A)
  • On Premises (Agreement B)
  • In Transit (Agreement C)
  • Forgery or Alteration (Agreement D)
  • Securities Forgery (Agreement E)
  • Counterfeit Currency (Agreement F)
  • Unauthorized Signatures
  • Counterfeit Checks
  • Computer Systems Fraud
  • Automated Teller Machines
  • Extortion (Kidnap & Ransom)
  • Fraudulent Mortgages
  • Servicing Contractors
  • Check Kiting Fraud
  • Stop Payment Legal Liability
  • Transit Cash Letter
  • Claims Expense
  • Safe Deposit Box

Professional Liability

This coverage is to insure the fiduciary responsibility to the bank’s customers, shareholders, and the general public. This coverage protects the personal assets of the directors, officers, and the employees of the bank from losses arising from wrongful acts. 

  • Directors & Officers Liability
  • Employment Practices Liability
  • Bankers Professional Liability
  • Fiduciary Liability
  • Trust Department E&O
  • IRA/Keough Liability
  • Lender Liability

Cyber Liability

This coverage protects the bank and its customers against fraudulent access to accounts via electronic means. This coverage also protects against damages incurred by customers in the event they acquire a computer virus through using the bank’s website.

  • Failure to protect confidential information from unauthorized access through the internet.
  • Loss or damage to electronic data of a customer.
  • Infringement of copyright, plagiarism, libel, slander, or defamation in electronic content.
  • Public relations expenses
  • Expenses to notify customers of a breach and provide credit monitoring
  • Social media exposure

Property and Casualty

These coverages protect the bank’s assets from physical loss due to fire, windstorm, lightning, vandalism, damage from vehicles, and a host of other physical exposures. Additionally, a portion of this coverage provides premises liability for injuries sustained by people while they are on the bank’s property. Other coverages that are normally considered part of the package policy are Worker’s Compensation, Commercial Umbrella, and Commercial Auto.

  • General Liability
  • Property
  • Business Auto
  • Workers Comp
  • Umbrella
  • Excess Deposit Insurance
  • Bank Card Coverage
  • Foreclosed Property and G&L
  • Mortgage Protection
  • Mortgage Hazard
  • VSI
  • Commercial VSI

Companies Represented

Financial PSI can accommodate any type of risk, from highest rated banks to those with

challenges, through trusted relationships with the following companies:

ABA Insurance Services (Everest National)

AIG

Amtrust

American Modern Home

Beazley (Cyber Coverage)

Great American

Hanover

Houston International Insurance Group

Lloyd's of London

Intact

Travelers

Zurich North America