Risk transfer and insurance advice for financial organizations, either nationally or internationally, is as varied as the economies and insurance-buying profile of the countries involved. Products to protect financial organizations are closely allied to the banking and legal infrastructure in each country and the ability of local markets to respond to these developments. The London insurance market provides a set of specialist policies for retail and investment banks, savings banks, fund managers, stockbrokers and insurance companies.
We have an excellent track record of structuring and placing solutions for Financial Institutions, with products including:
- Comprehensive crime cover, dealing with, for example, infidelity of employees, the protection of assets on the premises or in transit, forgeries and counterfeits, and damage to the office or its contents
- Specialist crime policies and extensions, covering, for example, electronic/ computer crime, plastic cards, extortion, Assurance/Insurance company forgery risks, ATMs and mortgage fraud
- Cover to mitigate an institution's financial exposure to Operational Risks, which is of particular importance in the light of the Basel Capital Allocation requirements
- Professional Indemnity and Civil Liability
- Directors & Officers Liability
- Specialist programmes for institutions involved in structured finance, enhancing a company's balance sheet or facilitating an asset backed financing
- Political and Credit risk protection can be arranged for institutions with assets or investments in emerging market countries, providing cover against expropriation or confiscation of their interests
- Protection for mortgage lenders against default by their borrowers, enabling lending institutions to remove these exposures from their balance sheets
Many combinations of these, and other coverages, can be built into complex insurance packages of specialist protection.