Financial institutions have highly specialised needs; our dedicated team recognises this and is empowered to offer tailor-made products and prompt decisions, based on in-depth sector experience and product knowledge.
We offer a range of covers to financial institutions, including Crime, Professional Indemnity (PI), Directors’ and Officers’ (D&O) Liability and Investment Management Insurance.
We work with many of the world’s leading banks, insurers, fund managers, stock exchanges and other financial institutions and understand the unique challenges and opportunities you face. Our underwriters are flexible and empowered to make decisions, providing prompt service and innovative cover.
We take a commercial approach to claims relationships; we always look for ways to resolve claims promptly and fairly, so that you can get back to focusing on your business. As claims involving financial institutions are often highly complex and involve multiple parties, one of our key priorities is ensuring clear and consistent communication throughout the process.
Our team spans the UK, Western Europe, the Middle East, Australia and Canada, so we can provide local expertise in a wide range of jurisdictions. We also benefit from the wider reach of the QBE Group and are able to offer multinational programmes for more than 150 countries. Because of our wide experience of working with clients all over the world, we are not afraid to provide cover in difficult and unstable jurisdictions.
We offer a range of products for financial institutions:
These policies are specifically designed for financial institutions to cover the loss of assets and property due to theft, fraud or physical loss or damage. This can range from damage to property to fraud by employees, armed robbery, complex fund transfer losses, and losses caused by computer-based crime.
Financial institutions are vulnerable to claims from customers or suppliers – for example, for negligence or not acting with due skill, care and attention. We cover institutions for their liabilities to pay damages to third parties for any form of failure in providing their services.
Our D&O policy covers directors and officers of financial institutions for any liabilities arising from the carrying out of their duties. We tailor our cover to your specific needs and take into account issues such as the lack of clarity around whether individuals carry out certain actions in their capacity as a director or as an advice-giving professional.
Because liabilities in this area are rarely clearly defined, we offer a packaged policy to the investment management industry that combines Crime, PI and D&O insurance. Combining these ensures there are no gaps in cover – and nor do you pay twice for the same cover. We can also offer a Cyber extension to cover current and emerging cyber risks.
Our Public Offering of Securities Insurance (POSI) protects against liabilities arising from offering a company’s securities for sale and listing on a public stock exchange. The company and its directors can face litigation if the securities' performance does not match up to expectations, so POSI cover can bring valuable peace of mind.
Pension trustees today have a wide range of responsibilities, from appointing and overseeing external advisors to assessing the impact of regulatory and tax changes. Our Pension Trustees’ Liability insurance allows trustees to carry out their roles with confidence, safe in the knowledge that their interests are protected in the event of any claims for breaching their duties.