Banking and finance Sector
A comprehensive suite of services for the finance sector: from protection for current accounts to safeguards for real estate assets
If your needs are more complex and call for other or special coverage, get in touch with our consultants today to ask for a dedicated proposal for your business.
The financial sector is extremely complex and delicate from an insurance perspective. The sums involved can be very large, and sources of risk can be both involuntary employee error and employee fraud.
In addition to these is the exponential increase of cyber risks seen in recent years: cases of phishing, the online theft of current account credentials, are constantly on the rise, and as much as credit institutes are taking measures to address this with increasingly secure authentication systems, no bank can ever be entirely invulnerable to this phenomenon. And last but not least, one must not forget the importance of all the risks attendant to the management of high value real estate assets, a factor common to many banks.
Luckily, a number of very effective insurance solutions are available for these risks, such as D&O (“Directors & Officers Liability”) policies. While the most obvious purpose of these policies is to indemnify directors, managers and, generally, all persons with the power of control and coordination over the operations of an organisation, they also offer the equally important advantage of safeguarding the assets of the company.
In addition to these is the exponential increase of cyber risks seen in recent years: cases of phishing, the online theft of current account credentials, are constantly on the rise, and as much as credit institutes are taking measures to address this with increasingly secure authentication systems, no bank can ever be entirely invulnerable to this phenomenon. And last but not least, one must not forget the importance of all the risks attendant to the management of high value real estate assets, a factor common to many banks.
Luckily, a number of very effective insurance solutions are available for these risks, such as D&O (“Directors & Officers Liability”) policies. While the most obvious purpose of these policies is to indemnify directors, managers and, generally, all persons with the power of control and coordination over the operations of an organisation, they also offer the equally important advantage of safeguarding the assets of the company.
