Banker’s Blanket Bond insurance
What is it?
This is an insurance product created to protect financial institutions from potential losses resulting from unauthorized activities done by employees or third parties. This is a complex insurance covering the following types of insurance:
- Directors & Officers liability insurance. This insurance protects executives and the company from potential losses caused by the unlawful actions (inaction) of these persons;
- Banking risk insurance. This insurance protects banking institutions from financial losses that may result from fraudulent actions of employees, theft of property, money forgery or armed robbery by third parties;
- Professional civil liability insurance. This insurance protects your business against unpredictable costs related to damage to a third party due to a professional error.
- Insurance of public distribution of shares. This insurance protects the company’s directors, employees and the company for the decisions taken by the director of the company and employees on various securities claims;
- Investment management insurance. This insurance is made for investment managers, investment advisers and investment funds. It protects against financial losses that may arise from investment managers or consultants’ mistakes or negligence while providing investment services.
What is insured?
- Asset managers;
- Investment managers;
- Commercial banks;
- Insurance companies;
- Various financial institutions;
- Private banks;