Your clients depend on you to protect their finances against any potential harm. Why break this trust by acquiring poor insurance? Whether you are a bank, an investment manager or a mortgage lender, your clients deserve the best protection possible. Thankfully, there specialized brokers that can set your business up with the right type of insurance for financial institutions. Here a few of the policies you should invest in.
Errors & Omissions Liability
Money is a sensitive matter for most people. This is why errors & omissions liability is crucial to your institution’s longevity. This insurance protects your company in case a client files a claim against you stating that you acted negligently or did not provide adequate services. With this liability policy, you can handle attorney fees and possible damages.
Today, hackers and criminal groups can infiltrate an electronic system within seconds. Cyber liability insurance can help you repair this breach by handling criminal and investigative efforts, data restoration and damage payments to clients.
Handling money is a huge magnet for criminals. Thankfully, crime insurance is there for you. Depending on your agency, you can get coverage for wire fraud, employee dishonesty, extortion, ransom and fraud.
Insurance for financial institutions is meant to be powerful and encompassing. Talk to an agency today that offers that kind of protection if you want to keep your clients safe.