Financial institutions have to operate within a growing array of complex laws, rules and regulations, which increase the potential for loss and consequent litigation.
We provide market-leading civil liability insurance, protecting financial institutions and their employees against claims arising from the performance of or failure to perform professional services.
In the current regulatory and economic environment, it is important that companies have the right cover. We operate on a "knowing your client" basis and work with our clients to develop the appropriate insurance for their needs.
A broad definition of the term ‘wrongful act’ offers businesses greater protection.
Cover for the company, employees and persons for whom they are legally responsible.
Cover for employee dishonesty.
Cover for cost of mitigating potential claims.
Cover for investigations.
Highly experienced underwriting team offer brokers guidance and the ability to tailor cover to suit the individual business needs.
In depth knowledge of the issues and liabilities faced by financial institutions.
Global network of underwriters and claims professionals.
Who does it protect?
Employees in the performance of professional services
Other persons for whom the insured is legally responsible
Spouse or domestic partner of an insured person
The estate or legal representative of deceased insured persons
What does it cover?
Comprehensive cover for defence costs and legal liability incurred from:
Errors and omissions
Misstatement and misleading statements
Breach of duty, breach of trust and breach of fiduciary duty
Breach of applicable regulations outside the USA
Damages, judgments, expenses and defence costs
Costs of legal representation for investigations
Cover for claims against the insured as a result of a wrongful act of an outside service provider
Cover for loss of documents
Cover for breach of privacy
Costs arising from extradition proceedings
Cover for deprivation of assets of individuals Individuals covered for pre-investigation costs
Chubb is rated consistently amongst the highest for financial strength: AA from Standard & Poor’s and A++ from A.M. Best.
Why choose Chubb?
Recognised market leader We have a dedicated and highly experienced underwriting team with a vast amount of knowledge on the crime exposures facing all types of financial institutions.
Multinational capability Chubb’s worldwide network can provide local cover for multinational operations or companies with multinational exposures.
Award-winning claims service Our claims team is consistently recognised as the best in the business. We handle all claims in-house and clients have a single loss adjuster to liaise with throughout the process.
Best for financial strength A++ Superior AM Best’s highest rating for financial strength
Best Global D&O Insurer Global Finance, 2015
Best cyber & technology risks team Post Magazine, 2014
Excellent niche products and good service Insurance Times Broker Survey, 2015