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Financial Institutions Bond
Chubb Specialty Insurance

Chubb's Financial Institutions Bond has been developed to meet the needs of financial institutions in an increasingly more complex and global environment. Chubb's Bond should form a vital element in any institution's risk management program.

Chubb's Bond will provide coverage for the following:

  • Dishonesty - Employee Dishonesty whether committed alone or in collusion with others which results in improper personal financial gain to the employee or that was perpetrated with intent to cause loss to the financial institution.
  • On Premises - Loss due to robbery, burglary, misplacement, mysterious unexplainable disappearance, damage or destruction of property or theft or false pretences committed by a person the institution's premises.
  • In Transit - Loss of property from any cause whilst in transit in an armoured motor vehicle or by insured's messenger. Loss of written records, certified securities and negotiable instruments from any cause whilst in transit in a transportation company vehicle.
  • Forgery or Alteration - Loss due to the forgery or fraudulent material alteration of negotiable instruments, acceptances, withdrawal orders, withdrawal receipts, certificates of deposit or letters of credit.
  • Intended Forgery - Loss due to reliance upon any original documentary securities, guarantees or deeds which bear a forgery, are fraudulently materially altered or are lost or stolen.
  • Automated Device - Loss of money or negotiable instruments due to the burglary of any automated teller machine.
  • Counterfeit Money - Loss due to the receipt of counterfeit money.
  • Computer Systems - Loss due to the dishonest or fraudulent entry of data or changes to data or software programs.
  • Defective Signatures - Loss due to reliance upon a defective signature on real property mortgages, deeds of trust or assignments in connection with any loan.
  • Voice Initiated Funds Transfer Instructions - Loss due to the transfer of funds on the faith of any unauthorised and fraudulent voice initiated funds transfer instructions.
  • Telefacsimile Instructions - Loss due to the transfer or payment of funds or property on the faith of fraudulent telefacsimile instructions.
  • Cash Letter - Extra expense incurred as a result of robbery, theft, misplacement, mysterious unexplainable disappearance or damage to or destruction of a cash letter.
  • Defence Costs - Defence costs incurred to determine the financial institution's liability for a covered loss under the Bond.