Massachusetts Financial Services Insurance Agency, Inc.*
*In all other states, we operate as New England Financial Services Insurance Agency, Inc.
We are a wholly owned subsidiary of Massachusetts Bankers Association, Inc.

Theresa Reardon 
Executive Director
Massachusetts Financial Services Insurance Agency, Inc.
Tel. 617.502.3853         

109 Elm St., 3rd Floor, P.O. Box 287,
Millbury, MA 01527
Tel. 617.502.3850 
Fax. 617.502.3854         

With over 30 years of experience working with financial institutions in Massachusetts and other New England states, we can handle all of your insurance needs.

Our focus is banks, just banks. We stay current on bank issues, whether insurance related or not.

Should you wish to remain with a local broker, we can enhance your local business relationships by being a resource through our fee -based consulting services.

Our Services
  • We provide brokerage, consulting and administrative services.
  • Review policies for restrictions and deficiencies.
  • Review losses and offer risk control to reduce premium hikes.
  • Inspect locations for potential claim issues.
  • Educate staff how to complete insurance applications, when to report changes and claims to insurance company.
  • Provide insurance checklists with helpful insurance tips that protect your bank.
  • Speak at your bank meetings and answer insurance questions, discuss hot topics in banking industry and talk about insurance claims we see regionally and nationwide.
  • Hold insurance education seminars by phone, webinar or on site.
Bank Insurance
Everything you need to protect your financial institution. We are your broker for D&O, Blanket Bond, Internet Banking Liability, Safe Deposit Liability, General Liability, and much more...
  • Directors and Officers Liability Insurance
    The Directors and Officers Liability policy protects any person, who is or may become an officer or director of the named corporation, against claims for any covered wrongful act. There is no standard D&O liability policy and thus the definition of a “Wrongful Act” act varies from policy to policy.

  • Financial Institutions Blanket Bond Insurance
    The Financial Institutions Blanket Bond policy generally provides coverage to the bank on a blanket basis for certain fraudulent acts committed by employees and customers that cause the bank a loss. The policy covers all bank employees when the bond is issued and all future employees automatically without notice to the insurer. This is a package policy designed to provide the bank with coverage for a wide variety of loss in a single contract.

  • Business Insurance
    These are the property, general liability, automobile, umbrella and workers compensation coverages, tailored to the specific needs of the individual financial institution.

  • Debit/Credit/ATM Card Issuers Insurance
    Worldwide coverage for losses from fraudulent use of payment and ATM cards.

  • Internet Banking Liability Insurance
    The Internet Banking Liability policy provides affirmative broad-form coverage for suits against the Financial Institution and its directors and officers. Business interruption, extra expense, cyber/network extortion and public relations expense coverage are also available by endorsement.

  • Mortgage Impairment Insurance
    The Mortgage Impairment policy protects a bank’s interest in real property if the property is damaged or destroyed and the loss is not insured due to a lack or insufficiency of hazard insurance. The policy covers the bank if the borrower fails to carry the required property hazard insurance and as long as the bank does not know that such hazard insurance is not in force.

  • Lender Placed Property/Flood & REO Insurance
    Property/Liability/Flood Insurance – Protects the bank’s interest in forced placed property and flood insurance. Commercial and residential loans are covered.

  • Lenders Single Interest Insurance
    Protects the bank’s interest in loans for cars, boats and RVs. Covers losses due to damaged property before or after repossession.

For more information call us at 617.502.3850, or email Theresa Reardon to obtain the appropriate insurance coverage at a fair price.


Testimonial Image
 Greenfield Co-operative Bank has been a client of Massachusetts Financial Services Insurance Agency relative to its D&O, Bond, and Internet Banking insurances, for more than 10 years and the personal service that we receive has been exceptional. They are always able to provide us with the appropriate advice and suggestions when it comes to our insurance needs. This has proven to be a valuable resource for us, so we can spend less time on insurance, and more time on banking.”
- Michael E. Tucker, President & CEO, Greenfield Co-operative Bank and Former Chairman, Massachusetts Bankers Association

“They have a professional and knowledgeable team that responds promptly to any request and answers questions that may arise along the way. During this period of intense risk management, it is also important to know that we can rely upon our broker to provide assistance in determining the appropriate levels, types of coverage, and additional emerging coverage in the banking industry.”
- Sandra L. McGoldrick, President/CEO, Winter Hill Bank, FSB

“Bank of Canton has been working with Massachusetts Financial Services Insurance Agency for close to ten years. They are always very timely in securing information regarding quotations, policy renewals, and filing of claims, and with their knowledge of the banking industry – issues and trends we are facing – they are always able to provide appropriate advice and suggestions. It has been a win-win for Bank of Canton!”
- Anthony F. Caruso, SVP/Retail Banking & Branch Administration, Bank of Canton

"...their experience in working with bankers and knowledge of the banking industry has been a true advantage.”
- Gilda M. Nogueira, President & CEO, East Cambridge Savings Bank, and Former Chairman, Massachusetts Bankers Association