4 SEPTEMBER 2026
THOUSANDS OF FI PLACEMENTS · $250M+ RECOVERED
Financial Institutions, Know If Your Insurance Is Ready for a Claim With Our 8-Point Stress Test
Send one issued policy ahead, declarations and endorsements included. In one free hour, LION reads it through the same 8-Point Stress Test it runs for clients every year. You leave with the findings either way.
- Strengths in the policy you send
- Wording gaps found in that policy
- A fix list for that policy, which you keep
D&O · E&O · Cyber · Crime · EPL · Fiduciary. Send the one you most want tested.
One hour. No obligation. Confidential. Your current broker is not contacted. You keep the findings.
Prefer a 15-minute introduction first? Discuss your insurance program. No policy required.
“Their dedication to making us feel like their only client is a testament to their exceptional client service.”
Laurie Zdanis, CEO, Michigan Commercial Insurance Mutual
Proof points
$250M+
recovered in FI claims LION has handled
8 to 12
material gaps in a typical program LION reviews
20+ years
of founder experience placing financial institution coverage
1 policy
is all you send to begin the free assessment
A clean renewal history is not proof your program will pay
Dear financial institution leaders, you may recognize these:
- Your renewal starts too late and ends with too little leverage.
- You spend more time educating your broker than getting advice from them.
- You suspect your policy language is weaker than it looks, and cannot prove it.
- Your board asks whether the limits are right and you have no peer data to answer.
- You have been through a claim your program did not handle the way you expected.
- The team servicing your account is not the team that won it.
You still have to decide whether the coverage is sound. Unanswered questions get harder to resolve once renewal is close or a claim has arrived.
A $2 million account generates a fraction of the commission a $20 million account does. Senior specialists go where the premium is.
Most financial institution programs LION reviews contain 8 to 12 material coverage gaps. These sit in definitions, exclusions, sublimits, notice provisions, or carrier structure, and they change the outcome at claim time.
Use one hour to examine the policy you send. Keep the findings and the fix list whether or not you ever appoint LION.
One hour. No obligation. Confidential. Your current broker is not contacted. You keep the findings.
A CLOSER LOOK AT YOUR INSTITUTION
Start with the coverage questions facing your institution.
These questions frame the discussion. The assessment produces findings on the policy you send.
Regional & mutual insurers
The insurance your institution buys for itself.
- Does your professional-services wording describe the underwriting and claims work you perform?
- Can you explain the limits and retentions you recommend to your board?
- Have you examined how corporate coverage and reinsurance obligations fit together?
A mutual insurer's review found more than a dozen material gaps. The institution moved its full program.
MGAs
The authority you exercise and the responsibilities you carry.
- Have underwriting or administrative activities expanded since you placed your policy?
- Are delegated-authority agreements and professional-services wording reviewed separately?
- Have premium handling, reporting, and audit responsibilities been considered in your coverage review?
Review focus: we check whether the E&O wording reflects the delegated work you describe.
Insurtechs
Your technology and insurance operations, considered together.
- Do separate E&O policies each describe only part of your operation?
- Have critical vendor changes been checked against coverage triggers, exclusions, and sublimits?
- Have new products or distribution arrangements outgrown the definitions in your policy?
An insurtech's technology E&O and MGA E&O were rebuilt on one form with one carrier.
Hundreds of financial institution programs reviewed. More than $250 million recovered when it counted.
$55M to $70M
A $55 million final offer closed at $70 million, because the carrier had been chosen at placement for how it behaves in a claim.
Denial reversed
A D&O denial reversed on a notice provision negotiated at binding, before anyone knew a claim was coming.
Paid in full
A cyber loss paid in full because the manuscript named the exact vendor dependency that failed.
Each outcome involved a decision made before the loss.
THE 8-POINT STRESS TEST
See what the policy you send actually does, and what needs attention, in one hour
Within the 8-Point Stress Test, the policy you send is read through five questions: who is insured, when coverage attaches, who controls the defense, what the form takes away, and how much is actually available. The remaining points are discussed from what you tell us about the program.
THE 150-DAY RENEWAL PROCESS
See bindable options 30 days before expiration & walk into every renewal with leverage, not a deadline
When a carrier comes back with a retention increase at day 45, a late broker accepts it or scrambles. At 150 days the alternative market is already quoted, the loss data packaged, the underwriter conversation scheduled. What CFOs tell us after the first cycle: the renewal was boring. Use your policy findings to decide what to address before renewal.
Starts 150 days before expiration. Closes 30 days before, with bindable options in hand.
CLAIMS ADVOCACY BY DESIGN
Carriers chosen for how they pay, not how they quote, backed by $250M+ recovered across hundreds of FI claims
Two carriers look identical on the binder and behave nothing alike when the claim gets expensive. We track which pay, which fight, and which adjusters are reasonable. The first-48-hours protocol is written at placement, and you meet your carrier's claims contacts before the loss, not during it.
Helping insurance and financial services leaders with complex insurance needs
“The LION team has always exceeded our expectations.”
Providing unique expertise and a proactive service model that has greatly benefited our company. Their dedication to making us feel like their only client is a testament to their exceptional client service proposition.
Laurie Zdanis
CEO, Michigan Commercial Insurance Mutual
“They made the transition from our prior broker seamless.”
I quickly came to realize they had all the bases more than covered, which allowed me to focus on other pressing matters. They are true professionals in every aspect and bring a wealth of experience and market relationships to bear.
Marc Havens
Former COO, Reinsurance, Tiger Risk Partners
“They navigated our complex needs better than anyone else.”
Finding a broker that understood the nuances of our industry, could navigate a complicated claims history, and was savvy enough to arbitrage the market offerings was not easy. I was able to count on the LION team for fluid communication, accuracy of work product, and timeliness of documents.
Anne Chervony
Risk Manager, Bluegreen Vacation Holdings
“LION became an extension of our team.”
We learned we could rely on them for quick responses and thorough options, which is key for diligence deals. Their commitment to the space is clear, and their service sets them apart.
Brad Holtmeier
Partner, Critical Point Capital
WHAT TO EXAMINE
What to examine in any financial institution program, and what LION documents against each
| WHAT TO EXAMINE | LION'S DOCUMENTED APPROACH | QUESTIONS TO DISCUSS ABOUT YOUR PROGRAM |
|---|---|---|
| Who works your account | Mark "FLIP" Flippen, 20+ years specializing in financial institutions. The person who wins the account works it. | Your assigned adviser's financial institution experience |
| Renewal timing | Starts 150 days before expiration, closes 30 days before, options in hand. | Your renewal schedule and when options arrived last cycle |
| Policy wording | 30 to 50 litigated provisions negotiated per placement. | Wording negotiated at your last renewal |
| Program structure | Lloyd's manuscript: 52 pages, one carrier, four coverage lines, eight syndicates. | Conflicts across forms and endorsements |
| Benchmarking | Limits, retentions, pricing, and structure against real peer institutions. | Which peer institutions your last benchmark used |
| Claims | $250M+ recovered across hundreds of FI claims. Carriers chosen for claims behavior. | How your carriers were chosen and who takes first notice |
THE POINT
If your incumbent answers every question well, that is a good result. The assessment tells you which answers hold up in the wording.
HOW A CLAIM PLAYS OUT UNDER ONE POLICY
The Lloyd's manuscript: 52 pages, one carrier leading D&O, E&O, EPL, and Fiduciary. One contact, one wording, one tower.
- Claim arrivesregulator, carrier, or employee
- One claims contactmet at placement, protocol already written
- One wording decidesno seam between D&O, E&O, EPL, and Fiduciary
- One set of definitionsclaim, loss, and wrongful act defined once, for every line
- One coordinated towermanuscript primary, US markets stacked above
One hour. Three steps. A decision made, not a project to complete.
-
01
Book a free assessment
One hour on your calendar. Send one issued policy ahead, declarations and endorsements included, the line you most want tested. Free, no obligation, and your incumbent is not contacted.
-
02
We run the 8-Point Stress Test
That policy, clause by clause, through the five questions, with the rest of the eight discussed from what you tell us.
-
03
You leave with a fix list
Findings on that policy and a prioritized fix list. You keep it whether or not you appoint LION.
Who runs the assessment
Mark "FLIP" Flippen, founder of LION Specialty
25+ years in insurance. 20+ years specializing in financial institutions. The person on the call is the person who would do the work.
Behind every placement, a consortium of global partners across the London, Bermuda, and US markets.
Frequently Asked Questions
How are you different from our incumbent? They do FI work too.
The people, maybe not. The model, yes. A $2 million account inside a volume model gets whoever is available. LION specializes in financial institutions, and the person who wins the account works it.
What do I need to send before the assessment?
One issued policy, declarations and endorsements included: D&O, E&O, cyber, crime, EPL, or fiduciary, whichever you most want tested. That is the whole preparation. We read it before the hour starts, so the hour is spent on findings, not paperwork.
We had a review last year. Why review the program again?
The assessment reads the policy you choose against the same questions LION runs annually. It identifies strengths as well as gaps in that policy, so you have a basis for deciding what needs attention this cycle.
We just renewed. Does this still make sense?
Mid-cycle is the best time. The assessment reads a policy you already bound, and the fix list is in your hands before the next renewal starts, 150 days out.
Do we have to appoint LION, or decide about changing brokers, to get the assessment?
No. The assessment is free and carries no obligation. You keep the findings without changing brokers, even if you never appoint LION.
Will you contact our current broker or go to market?
No. Nothing goes to market and your current broker is not contacted. The assessment is confidential.
If we did move our program, do we pay a fee on top of commission?
No. LION is commission-based, disclosed before engagement. Fee-based options exist where relevant.
What happens if FLIP is unavailable?
Your program does not sit with one person. LION places programs alongside a consortium of global partners across the London, Bermuda, and US markets, and every account has a written first-notice protocol and named claims contacts at each carrier, met at placement. If Flip is unreachable on the day, the file and the people who can act on it are already in place.
Your renewal should start 150 days out and close 30 days before expiration
Use your policy findings to decide what to address before renewal, while there is still time to act.
One hour. No obligation. Confidential. Your current broker is not contacted. You keep the findings.
Prefer a 15-minute introduction first? Discuss your insurance program. No policy required.
NOT READY FOR AN ASSESSMENT?
The Boardroom Brief
Three articles. Five minutes. Questions worth taking to your board. Every Friday since April 2024.
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