Financial Institutions Insurance
Crime Insurance can be industry specific such as Bankers’ Blanket Bonds, Stockbrokers’ Blanket Bonds, and Insurance Company Crime Bonds. It provides first-party protection against the direct financial loss sustained as a result of:
Professional Indemnity Insurance:
Professional Indemnity Insurance protects against legal liability to third parties arising out of alleged negligent acts, errors, omissions, and breaches of duty committed by an organization’s employees. Coverage usually includes defense costs and costs related to official investigations.
Directors & Officers Insurance:
Directors & Officers Insurance protects directors and officers if they are the subject of a claim or investigation arising from the performance of their duties, especially if they are sued as a result of serving as a director or an officer of a business or other type of organization. It can also cover the legal fees and other costs the organization may incur as a result of such a suit…
Bankers Blanket Bond
A fidelity bond can be opted for by a bank and exchange company and other financial institutions, to protect against losses from various criminal acts carried out by employees, such as dishonesty, fraud, or loss of cash on premises. It also can be extended to cover loss of cash while in transit, loss by forgery and counterfeit currency, forgery of cheques, etc… A banker’s blanket bond is also known as a blanket fidelity bond. Some Countries entail blanket bond coverage as a condition of operating a bank.