Financial institutions have specific business challenges, such as ever increasing regulation, robust capital and lending criteria, disclosure requirements, increased transparency and shareholder protection.
This is why specialist liability needs of financial institutions and financial service providers are addressed by dedicated insurance policies.
Appropriate insurance cover for emerging areas of risk.
Risks develop and regulations reform quickly, so your insurance products need to provide appropriate insurance cover for emerging areas of risk.
Do we need Financial Institutions insurance?
Commercial banks, savings banks, and savings and loan institutions that offer professional services to third parties for compensation, stockbrokers, fund managers, wealth managers, foreign exchange and insurance companies all need financial institutions insurance.
What does it cover?
Cover would usually include the company itself, plus their directors, officers, partners and employees. Cover may be on a worldwide basis.