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Financial institutions confront a host of risks in the delivery of products and services to their clients. Our product is specially created to provide global protection against these risks. It protects your company and its staff against civil liabilities related to their jobs, and can be tailor-made according to your business needs in an increasingly volatile environment.

Coverage Highlights

Insuring clause

  • Chubb will pay to or on behalf of the Insured all civil liability loss arising from acts, errors, omissions, breaches of duty, breaches of trust, breaches of fiduciary duties or breaches of any applicable regulations, while performing or failing to perform professional services. The cover includes the conduct of any other person for which the Insured is legally responsible.

Available extensions

  • Legal representation expenses for attendance at investigations including regulatory investigations up to the full limit of the policy
  • Mitigation costs sub-limit of $100,000
  • Full continuity while the Insured has maintained a professional indemnity policy without interruption from Chubb, with no fraudulent non-disclosure or fraudulent misrepresentation
  • Loss of documents, defamation and breach of privacy cover to the full limit of the policy
  • Loan administration expenses resulting from a claim are covered
  • Extradition bail bond costs sub-limit of 10% of the limit of liability. Extradition crisis costs sub-limit of $25,000
  • Public relations expenses to hire a public relations firm, crisis management firm or law firm, to prevent or limit negative publicity arising from a claim. Sub-limit of $250,000
  • Reputation protection expenses to assist the Insured in appointing a public relations firm or consultant to diffuse the findings of a final adjudication. Sub-limit of $250,000
  • Non-Renewal Discovery Periods:

1. Bilateral trigger for cover;

2. 45-day automatic on all clauses – no additional premium;

3. 12 months @ 90% additional premium for all insuring clauses;

4. Affirmative cover for investigations during discovery period

  • Option to purchase run-off cover for additional 84 months due to merger or acquisition
  • Automatic cover for new subsidiaries if:

1. New subsidiary asset size is less than 20% in asset size of the principal organisation;

2. It is not domiciled in the US;

3. There are no professional services claims in the preceding five years;

4. Up to 20% of revenue is derived from investment banking, hedge funds, or derivative trading

  • 45-day automatic cover provided in respect of all new subsidiaries
  • Emergency defence costs provided where the Insured is unable to obtain prior consent from Chubb for up to 10% of the limit of liability (or applicable sub-limit), for expenditure on defence costs, legal representation expenses, bail bond costs or public relations expenses


  • Claim includes extradition proceedings and investigations, (with no Wrongful Act requirement)
  • Civil Liability Loss includes damages, judgments, and court orders to pay compensation for a contravention of any statute or legislation. Also includes public relations expenses, reputation protection expenses and extradition bail bond expenses and crisis costs
  • Professional Services includes financial services for a fee or in conjunction with services for a fee, or pursuant to an agreement
  • Subsidiary includes a joint venture where the Insured exercises effective management control


  • Improper Conduct – includes dishonesty, fraud and personal profit. Broad written admission and final adjudication language. Non imputation clause applies to insured persons and insured entity
  • Insured vs Insured exclusion – carves back defence costs; capacity as a client or customer; contribution or indemnity; former insured persons
  • No Insolvency exclusion
  • Lenders Liability exclusion – does not apply to administration of loans
  • Mechanical Breakdown – write back for claims arising from Wrongful Act
  • Intellectual Property exclusion – write back for unintentional breaches by the Insured
  • Trustee Liability exclusion – only applies to Insured’s own pension funds
  • Proprietary Risks – specific to the Insured’s own trading losses
  • SEC exclusion
  • Failure to Hold Licence exclusion – onus is on the Insured to ensure appropriate licences are maintained as required by local regulators


  • Insured’s duty to defend claims
  • Separate legal representation is required where conflicts exist
  • Rights of subrogation shall not be exercised against an insured person unless a criminal, dishonest, fraudulent or malicious act has been committed


  • Ability to offer tailored programmes
  • Capacity of US$25 million
  • Local claims handling capabilities
  • Local underwriting authority and account management expertise
  • Primary and excess capabilities

Have a question or need more information?

Contact us to find out how we can help you get covered against potential risks