Banks and financial institutions insurance

We distinguish the following groups of risks faced by banks and financial institutions:

• The financial losses caused by the dishonest acts of employees;
• Losses associated with breaking into computer systems;
• Theft of valuables during transportation and storage;
• Losses related to counterfeiting and theft of bank cards;
• The responsibility of senior staff for wrong management decisions;
• Damage to life and health of employees, the loss of part of the staff;

To protect banks and financial institutions, we use the following types of insurance:

• To protect against unlawful actions of banks’ employees, we offer the BBB insurance program (Banker's Blanket Bond). This product protects against fraudulent activities of employees who are eager obtain illegal financial gain, and also covers a number of other risks, including document forgery (system orders, cash and securities). The insurance program also covers the loss settlement expenses (appraisers, lawyers).
• Losses incurred as a result of hacking of electronic and computer systems by third parties, as well as unidentified bank employees are covered by ECC (Electronic Computer Crime) policy. Examples of covered losses include unauthorized entry or alteration of the information for the purpose of transfer of funds, destruction of data, and erroneous transfer of funds as a result of a computer virus.
• We offer CIT (Cash in transit) policies to protect assets of financial institutions from being stolen during transportation or storage process. Coverage may solely c include ATMs and terminals network, or can be expanded to cover cash units, storage and transportation of cash collection, including coverage paving risk.
• To minimize the damage caused by plastic cards fraud, we offer card issuer insurance program. The program covers cards forgery, loss of cards that resulted in a financial loss for the bank that issued the card, as well as indirect costs of litigation.
• To protect the collective executive body of the financial institution against claim which resulted from incorrect and faulty management decisions, we offer Directors and Officers insurance policy (D & O). The program is based on the principle of protection from all claims, including claims by the tax and regulatory bodies, shareholders, clients.
• Damage to life and health of employees, the loss of part of the staff the protection is provided by two types of insurance (accident & health insurance and VHI). Accident insurance reimburses employees (but not the enterprise) from the damage caused by disability resulting from injury. Voluntary Health Insurance (VHI) provides quality health care for employees, is part of their benefits package and, thus, contributes to the preservation of staff, prevents its departure to competitors.

Advantages in contacting us:

• We have more than 10 years of experience in placement insurance and reinsurance programs for banks and financial institutions, which will allow us to find the best coverage and rates on the market for you;
• We understand the risks and needs of banks;
• We know real market rates & will not allow you to overpay;
• We have true information how similar insurance problems are solved by your partners & competitors & are ready to share this information (of course, within the limits of professional conduct);
• We  work fast without asking too many questions, papers & applications;
• The main important thing is that we work wisely & with full responsibility to make you the best insurance proposals.

Contact us and see it in practice!