Specialty Lines REINSURANCE SERVICE

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.

Credit & Bonds : Credit Insurance is a type of insurance policy that is used to pay off existing debts in cases such as death, disability and in some cases, unemployment. Credit insurance protects the policyholder from the lender from the borrower’s inability to repay the loan or debt due to various reasons. The insurance policy will pay the lender on behalf of the policyholder.
Bond insurance is a type of insurance policy that a bond issuer purchases that guarantees the repayment of the principal and all associated interest payments to the bondholders in the event of default. Bond issuers will buy this type of insurance to enhance their credit rating in order to reduce the amount of interest that it needs to pay and make the bonds more attractive to potential investors.

Banker’s Blanket Bonds : Bankers Blanket Bond Insurance protects banks and other financial institutions against the risks of Fraud, Forgery, Counterfeit, ATM, Bank Robbery, Loss of Cash in Safe, Counter or Transit and many other perils.

Directors & Officers Liability : Being a director or an officer of a company is a high risk profession. If held personally liable for their own and fellow Directors’ decisions, one could face serious financial loss through litigation from shareholders, creditors, competitors, suppliers, regulatory bodies, etc. Directors and Officers Liability Insurance (often called D&O) Provides Cover For The Personal Liability Of Directors And Officers Arising Due To Wrongful Acts In Their Managerial Capacity. Defence Costs Are Also Covered And Are Payable In Advance Of Final Judgment. This Policy Provides Protection For Claims Brought Against Directors, Officers And Employees For Actual Or Alleged Breach Of Duty, Neglect, Misstatements Or Errors In Their Managerial Capacity.

Professional Liability : Professional Liability Insurance (PLI), is also known as Professional Indemnity Insurance (PII) or as Errors & Omissions (E&O). This is a liability insurance cover that protects individuals from professional risks and related legal expenses. It provides indemnity in case a third-party sustains injury, harm, death or damage to property due to the professional service or advice provided by the insured. Most common cases where professionals have been sued in court are for negligence or malpractice.