The Risk
Every financial institution is exposed to the risk of criminal activity, both from within its own organisation
and from outside. Losses can have a devastating impact on a financial institution's balance sheet.
The Solution
The Financial and Executive Risks Division of Greenshield
Insurance Brokers specialises in offering financial institutions
high levels of insurance protection against the effects of
potentially catastrophic criminal loss; specifically for the
risks of Employee Dishonesty, Forgery, Cyber Liability and
Computer Crime.
The Cover
The Bankers Blanket Bond product consists of a number of
sections known as Insuring Clauses. Each clause offers
protection to a financial institution against a clearly defined
risk of financial loss.
A financial institution may have a Bond in which all Insuring
Clauses are included or may select only those that are
relevant to its business. Greenshield Insurance Brokers has
extensive experience in tailoring such coverage to meet the
exact needs of clients. Insuring clauses can include:
-
Dishonesty of employees - financial loss due to
dishonest or fraudulent acts of employees.
-
Premises risk - loss of property resulting from theft,
unexplained disappearance, damage, destruction or
misplacement.
-
Transit - loss or damage to property whilst in transit
anywhere in the world in the custody of employees
and including transits carried out by courier
service or by registered post.
-
Forged cheques - loss sustained due to the forgery or
fraudulent alteration of cheques, bills of exchange,
drafts, acceptances, withdrawal orders, certificates of
deposit, letters of credit and money orders.
-
Forged securities - loss sustained by an organisation
due to its having acted upon other types of securities
or documents, which are not otherwise insured under
the forged cheques section.
-
Counterfeit currency - losses sustained from the
acceptance in good faith of counterfeit notes or coins
at the Insured's premises.
-
Damage to offices and content - loss or damage to
furniture, fittings and equipment arising from burglary,
theft, hold-up and other criminal acts.
-
Computer Crime/Cyber Liability is included in the cover if
required.
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