Once approved, your credit union will place an at-risk-based deposit with ESI equal to 1% of your Maximum Limits of Liability before the coverage is effective.
Once your policy is active, each quarter you’ll be required to submit a reporting of actual shares subject to the excess insurance coverage. You will also remit a variable-rate premium based on your credit union’s rating, as determined by Kroll Bond Rating Agency, Inc (KBRA). You only pay for the coverage you use, and not the Maximum Limits of Liability under your policy.
Reports and payments can be conveniently made through our online payment system.
Without access to CAMEL ratings, ESI relies on KBRA, the nationally recognized independent rating company, to determine your monthly premium rate. KBRA rates all financial institutions on a scale of from A to E, with A being the highest rating.
Please contact your sales manager to learn more about KBRA and ESI’s premium rate schedule.