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Insurance solutions for Financial Institutions

In the sophisticated global markets of today's financial world the term 'Financial Institution' (FI) has many connotations and can include the largest of a globally based enterprise to the smallest boutique house specialising and focusing in a specific niche within the global financial markets.

Some examples of financial institutions in our current market include Central banks, stock exchanges, clearing houses, stock brokers, hedge funds, private equity firms, asset managers/ investment managers, venture capital firms, investment trusts, unit trusts, pension funds, life funds, credit unions, building societies, commercial banks, investment banks, merchant banks, retail banks, insurance companies, etc.

The vulnerability and the risk exposure of financial institutions are both broad, in terms of the number of vulnerable areas and areas of inherent risk, and large, in terms of amounts and values at risk. The threat in terms of crime, unauthorised trading, negligence, corporate governance issues, regulatory issues, shareholder disputes/ issues, dissatisfied customers, etc., has culminated in a thriving insurance market willing and able to insure the most sophisticated of Financial Institutions, enabling the transfer of risk to Insurers from the “Financial Institution’s” balance sheet.

Covers

The main areas of insurance coverages available to our FI clients are as follows:-

  • Bankers Blanket Bond Insurance
  • Electronic & Computer Crime Insurance
  • Cyber liability Insurance
  • Financial Institution’s Directors’ & Officers Liability Insurance
  • Financial Institution’s Professional Indemnity Insurance
  • Stockbrokers Indemnity Insurance
  • Pension Fund Insurance
  • Investment Management Insurance
  • Venture Capital/Private Equity Insurance

Why AIG?

  • Financial resources that allowed us to pay an average of $115.1mn in claims worldwide every business day in 2012.
  • 88 million clients in over 100 countries and jurisdictions.
  • A 90-year history and one of the industry's most extensive ranges of products and services.
  • Deep claims expertise with the know-how to handle the most complex risks.
  • A+ Rating as per S&P
  • $34 billion in net written premiums worldwide in 2012