Chubb’s suite of Financial Institution Bonds has been designed to provide financial fidelity insurance solutions that complement a financial institution’s management and professional liability program.
Operational risks and regulatory and compliance needs look different than they did a decade ago; compliance and fiduciary risks for safeguarding customer and firm funds from hackers and criminals have never been more pronounced. And social engineering of employees, as well as the impersonation of customers, vendors, and executives, are not only commonplace, but such scams have become increasingly complex.
Chubb’s Asset Manager Bond can cover a wide range of perils caused by both employees and third parties, and provides a unique, cost-effective insurance solution to give asset managers peace of mind. The bond addresses risk such as theft of customers’ capital by dishonest employees, and loss caused by dishonest partners and outside private fund administrators.
Chubb’s Bank Bond provides an updated and modernized banker’s blanket bond that keeps the 21st century financial fidelity risk concerns of banks and non-depository financial institutions at its forefront.
Chubb’s Insurance Company Bond provides insurance companies with a straightforward financial fidelity insurance solution for their complex financial and regulatory risks.
Chubb’s Broker-Dealer Bond provides fidelity bond coverage to entities registered as broker-dealers in accordance with the fidelity bonding requirements set forth under FINRA Rule 4360 of the Financial Industry Regulatory Authority.
Chubb’s ERISA Bond provides coverage to insured ERISA Plans for loss resulting from fraud or dishonesty committed by a covered employee of the fiduciary, as set forth in the bonding requirements of the Employee Retirement Income Security Act of 1974 (ERISA).
Chubb’s ICAP Bond serves registered investment companies by providing coverage for loss resulting from larceny or embezzlement by employees as required by the Rules and Regulations of the Investment Company Act of 1940 (Rule 17g-1).
For more information on the Financial Institutions Bonds, contact your local agent or underwriter.
For more information on insurance for Financial Institutions, visit www.chubb.com/us/managementliability.