The Financial Institution Bond is used to insure your bank against employee dishonesty, robbery, forgery, burglary, and other crime exposures. Through our various markets, we can offer a single-policy solution that expands the basic coverages provided by the Surety Association of America to provide one comprehensive solution to address the specific coverage needs of your financial institution. To help prevent fraud and dishonesty, internal precautions such as dual controls, separation of duties, mandatory vacation time and operational audits are good deterrents. However, every financial institution needs insurance coverage when criminals are successful in circumventing internal controls, thus causing the institution or a customer to sustain a loss.
The Financial Institution Bond provides the fidelity coverage required by regulators and covers other types of fraud exposures your financial institution inevitably faces while doing business in the 21st century. We use a thorough risk analysis checklist, peer analysis, and benchmarking in order to make sure your bank has the coverages and limits that it needs.
Financial Institution Insurance Application
Keywords: Financial Bond, PROPERTY & CASUALTY, PROPERTY AND CASUALTY