Financial institutions require highly specialised protection. This is due to a combination of factors including the complex nature of the products and services they provide, the amounts of money involved, the onerous regulatory framework and the number and diversity of potential claimants that a wrongful act could attract.
Our broad expertise across the sector includes:
The market
Their vulnerability to high value and high volume claims means the number of insurers who underwrite Financial Institutions (FI) risks is limited and exists largely (although not exclusively) in Lloyd’s. THBUK Risk Solutions is a Lloyd’s broker with strong relationships with Financial Institutions insurers in both the Lloyd’s and company markets.
Cover considerations
The covers found under a FI product include:
The placement of FI risks often involves tailored, modular policies with multiple layers and multiple insurers.
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