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Financial Services

Industry-Specific Knowledge Insurance Solutions Recommended

Industry-Specific Knowledge

Financial Services are high-risk professions, being regulated by multiple legal frameworks. Should it be an economic slowdown, a regulatory or legislative change or any commercial or operational incident can have significant impacts on financial services firms’ reputation and financial safety. Increasing and fierce competition in this industry also makes it a vital need to have adequate, cost-effective insurance programs to protect the business, allowing business continuity and crisis prevention and mitigation plan against unexpected events and losses.

IIB understands the complex risks that Financial Servies firms face every day and offers a wide range of insurance products and consulting services to address Financial world’s diverse exposures through our consulting and broking professionals, armed with robust industry backgrounds, experimented in placing comprehensive insurance programs for Financial Servies firms, Banks, Funds and FinTech firms and defending our clients over complex claims settlement and support.

Insurance Solutions Recommended

Fidelity Insurance (FID)

Indemnify company against direct loss of money or goods belonging to them from a deliberate act or acts of fraud or dishonesty committed by any of the Employees

Motor Vehicle Insurance (MV)

There is also coverage for physical damage to your vehicles such as theft, collision, fire &explosion, natural disaster.

Cyber Liability Insurance (CLI)

Protects against data breaches and cyber-attacks leading to increasing IT costs, ransomware, business interruption, reputational damage etc…., which are increasingly relevant for firms storing and processing client sensitive data and operating on a worldwide internet/digital environment like professional services firms

Directors and Officers Liability Insurance (D&O)

Covers individual Director against E&O and wrongful acts claims, either alleged or actual, arising from their civil liability under the duties of a director, manager or supervisor

Employment Practices Liability Insurance (EPLI)

Known in the trade as EPL insurance or EPLI, provides coverage to employers against claims made by employees alleging Discrimination

Public Liability Insurance (PL)

Provides financial protection for businesses against claims, lawsuits, and legal fees from third-party individuals, including customers, visitors, and others, who suffer bodily injury or property damage as a result of your business activities

Property Insurance (PD)

Cover for physical damage happening to tangible property (building, machines & equipment, tools, stocks, forklift…) such as fire, storm, lightning, flood…

Employees benefits and Healthcare (EB&H)

IIB provides advisory to build the most robust and adapted employees benefits scheme that fits your operations, size and HR strategies. We also provide broking services for Healthcare, Workers’ Compensation Insurance (WCI) and Personal Accident (PA)

Banker Blanket Bond and Electronic Computer Crime (BBB&ECC)

A more advanced form of Crime insurance and Fidelity insurance. Besides cover for employees’ malicious or fraudulent acts, the policy is extended to cover outsider’s frauds and electronic computer crimes

Financial Institution Professional Indemnity Liability Insurance (FIPI)

Covers errors and omissions while providing professional services, including mistakes, missed deadlines, and cost overruns. The policy pays for both legal costs and reimbursement amount or indemnification according to final adjudication.

Trade Credit Insurance (TCI)

Solution for bad debt protection. It protects the Firm against non-payment of invoices by covering your receivables due against unexpected commercial and political risks (customer bankruptcy, changes to import and export regulations, etc...)

Non-Payment Insurance

An advanced form of TCI, a solution for bad debt protection. The Firm can discuss specific solution and cover based on the nature of the risk, the risk owner and the specificities of the loan

Collaterals Security

Provides cover for collaterals held by the Financial Services Firms to guarantee their different services and loans provided, to increase the safely and values of the collateralized properties. Solutions shall be discussed on a customized basis.

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