Financial Institutions Insurance
Financial Institutions by their very nature are the heart and soul of the financial community. In dealing with both individuals and companies, and with financial transactions of huge disparity, the risks are ever present.
The types of Financial Institutions that require coverage include:
- Building Societies
- Corporate Advisory
- Credit Unions
- Digital Banks
- Fintech Financial Firms
- Futures Brokers
- Health Funds
- Insurance companies
- Medical Defence Organisations
- Underwriting Agencies
Financial Institutions Bond Insurance | Crime Insurance | Fidelity Coverage
Financial Institutions due to their large number of financial transactions both in volume and size, are potentially susceptible to fraud and resultant financial loss. In order to properly protect these risks a broad coverage that protects the institution from both employees and third parties is required.
Coverage available in the market includes cover for loss arising from
- Dishonest or Fraudulent acts by employees
- Money in Transit including Armoured vehicles
- Forgery or Fraudulent alteration of financial documents
- Counterfeit currency
Professional Indemnity Insurance for Financial Institutions
This coverage is tailored for Corporate Advisors, Deposit taking institutions, investment banks and underwriting agencies and other institutions.
With various wordings available in the marketplace, we can explain and assist you in selecting appropriate cover. Optional benefits available, which can be included are
- Defence costs paid in Advance
- Mitigation costs
- Limitation of Liability (Subrogation waivers)
- Protection against rogue employees
- Inadvertent failure to notify of facts
As with all insurance, conditions apply to these benefits, and we can assist in explaining the terms of coverage.
Investment Managers Insurance | Venture Capital and Private Equity Firm Insurance
Investment Managers Insurance provides coverage for a large range of risks including:
- Agricultural Schemes
- Equities Funds
- Exchange Traded Funds
- Fixed Interest
- Hedge Funds
- Infrastructure Funds
- Private Equity
- Property Funds excluding Residential
- Residential Property Funds
- USA Listed Funds
- Venture Capital
There is currently a substantial interest in companies seeking to raise funds via Venture Capital or Private Equity firms. Venture Capital and Private Equity firms need to consider the risks their businesses expose their Directors personally too, and the balance sheet exposure to the business overall.
We can source optimal terms for this exposure, with coverage that provides insurance for
- Management Liability
- Management Indemnification
- Outside directorship liability
- Professional services liability
Business Insurance Specialists is happy to meet and discuss your insurance needs. For a no-obligation review of your insurances, please contact us today.