Financial lines
Contact the Financial lines insurance team today to find out more
email usBankers blanket bond
Bankers blanket bond insurance protects banks and other financial institutions against the risks of fraud, forgery, counterfeit, ATM, bank robbery, loss of cash in safe, counter or transit and many other perils.
We can tailor the insurance policy in terms of limit and coverage to suit the requirements of bank. We can also provide cyber cover in conjunction with bankers blanket bond insurance.
Coverage
Financial institution directors & officers
Protects directors and officers of public, private and not-for-profit financial institutions against loss arising out of their status or conduct as directors or officers. As businesses become more regulated through increased levels of corporate governance, EU Directives, Health and Safety, etc., the scope for suing individual directors and officers increases. The consequences of this can be severe with heavy fines and imprisonment.
Financial institution professional indemnity
This protects businesses and professionals from the financial consequences of their legal liabilities to third parties arising from breach of their professional duty. Certain professional bodies require their members to buy this type of protection, such as stockbrokers or securities dealers. Most financial institutions purchase this type of cover in order to protect them from litigation from clients or other third parties alleging breaches of professional duties.
Investment management insurance (IMI)
This provides a comprehensive package policy designed specifically for funds and asset managers to cover their key exposures including professional liabilities.
Bankers blanket bonds
Protects private or publicly-traded financial institutions for loss of assets (including cash, bullion, securities documents or similar valuable assets) from either employee fraud or losses caused by third parties occurring through robbery, forgery, counterfeiting, transfer fraud or computer fraud.
Electronic and computer crime insurance
Financial institution electronic and computer crime policy covers computer systems, electronic computer programs, electronic data and media, computer virus, electronic and telefacsimile communications, electronic transmissions, electronic securities and voice initiated instructions.
Commercial crime / fidelity
Protects privately-held or publicly-traded non-financial institutions for loss of assets from employee fraud (including cash, bullion, securities documents or similar valuable assets) or losses caused by third parties through the loss of money, securities, etc., from risks such as theft, embezzlement, forgery, robbery, counterfeit currency, employee dishonesty, safe burglary, computer fraud, and wire transfer.
Focus areas
- Banks
- Money exchanges
- Investment managers
- Stockbrokers
Geographical area
Worldwide
Directors & officers liability
Directors & officers liability insurance (often called D&O) is liability insurance payable to the directors and officers of a company, or to the organisation(s) itself, as indemnifications for certain damages (losses) or advancement of defense costs in the event any such insured suffers such a loss as a result of a legal action (whether criminal, civil, or administrative) brought for alleged wrongful acts in their capacity as directors and officers (as to the individual directors/officers) or against the organization(s) (either for securities claims or – if private – other actions against the organisations themselves).
With greater corporate governance and regulatory surveillance in place today, company directors and officers are under increased pressure to carry out their duties and obligations meticulously. Failure to do so may lead to personal liability for the individual director or for the entire board of directors, regardless of whether they are acting in a part-time, honorary or non-executive capacity. Directors & officers liability insurance (D&O) is designed to protect the assets of company directors and other individuals of a corporation against such claims.
Key exposure
- Employees - actions alleging discrimination, harassment, breach of employment contract, defamation, misleading misrepresentation, wrongful discipline, etc
- Creditors - alleging that the director allowed the company to trade whilst knowing it could not pay its debts.
- Government agencies - directors and officers may be personally liable for breaches of hundreds of statutes.
- Competitors - Trade Practices Act claims brought against the directors for misleading and deceptive type conduct.
- Shareholders - alleging that the directors mismanaged the operations of the company and its funds.
Key features
- Underwritten on a claims-made aggregated limit on a costs inclusive basis
- Full policy limit available for breach of occupational health and safety laws
- Advancement of defence costs
- Cover for joint ventures and new subsidiaries
- Continuous cover
- Worldwide claim cover
- Optional reinstatement of policy limit
Target market
Insured firms can be not-for-profit, privately held, or publicly traded. Start-ups will be considered. All industry sectors, both commercial and financial, are underwritten.
Other related products which can be offered separately or by endorsement include:
- Prospectus liability coverage
- Pension fund trustees liability
- Employment Practices Liability
- Runoff cover for up to 6 years (or as statutorily required)
Geographical area
Worldwide
Commercial crime insurance
Commercial crime insurance protects privately-held or publicly-traded non-financial institutions for loss of assets from employee fraud (including cash, bullion, securities documents or similar valuable assets) or losses caused by third parties through the loss of money, securities, etc., from risks such as theft, embezzlement, forgery, robbery, counterfeit currency, employee dishonesty, safe burglary, computer fraud, and wire transfer.
Our commercial crime policy protects companies against money, stock, goods, securities, property or funds being stolen by employees or third parties. It also protects against the theft of clients’ money or property for which you are responsible.
Coverage
- Forgery and counterfeiting
- Fund transfer fraud
- Physical loss of, or damage to, property
- Extortion
- Computer malware
- Corporate identity fraud
- Contractual penalties
Target market
Non financial business organisations
Geographical area
Worldwide
Plastic card fraud
Plastic card insurance provides coverage for counterfeit plastic cards, lost or stolen credit / debit cards, employee dishonesty, merchant fraud and associated legal expenses. Typically, the coverage provided under the plastic card fraud is excluded under BBB and electronic & computer crime insurance and hence the importance of this cover cannot be over emphasised.
Coverage
- Counterfeit plastic card
- Lost or stolen plastic card
- Employee dishonesty coverage
- Merchant fraud coverage
- Court costs and legal expenses coverage
Target market
- Banks
- Non-banking financial institutions
- Court costs and legal expenses coverage
Geographical area
Worldwide
Contact the Financial lines insurance team today to find out more
email us