Hartford Financial Services Group and Progressive announced they had formed an alliance to provide their insurance products to protect community banks against a variety of risks.
The companies said the arrangement allows banks and their agents the option of getting all of their business insurance from one source.
Mayfield Village, Ohio-based Progressive Casualty Insurance Company said it currently provides professional liability and bond coverage insurance products to more than 1,700 community banks.
The Hartford, Hartford, Conn., said it offers banks industry-tailored property and casualty insurance that includes bank-specific coverages such as mortgage protection and foreclosed properties as well as standard-lines coverages like workers' compensation, property and general liability.
"Offering agents access to our Professional Liability and Bond coverages along with The Hartford's property and casualty products is about convenience," said John Wells, Progressive's Professional Liability Group director. "Agents can now write a complete insurance package through either company."
Stephanie Bush, senior vice president of middle market at The Hartford, said the firm is "pleased to be aligned with Progressive, a company that meets our high standards of customer service. Now, Hartford and Progressive agents alike have a complete package of products available to meet their bank customers' business insurance needs."
Additional details on The Hartford/Progressive alliance are online at Banks.TheHartford.com.
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