When it comes to handling large sums of money, financial institutions are considered one of the safest means for businesses and individuals when it comes to entrusting these funds. Whether you are saving for retirement or considering opening a franchise, you turn to community banks, savings and loan companies, credit unions, and other financial institutions to help you realize your dreams. They are considered as the best safe keepers for their individual, governmental, and corporate customers’ assets.
Employees and owners are subject to a variety of professional liability risks. There are all types of concerns that can crop up with an arrangement of this nature, from allegations of wrongful acts related to a bank’s administration of a trust to claims involving the selling of financial products under false pretenses.
Claims by an investor that an adviser recommended unsuitable investments or failed to disclose risks concerning such investments can have dire consequences as well. Financial Guaranty Insurance Brokers (FGIB) wants to help you to sort through the complexity of choices with an aim at recognizing exactly the right fit for your organization.
Why Financial Guaranty is the right choice
By partnering with FGIB for your insurance solutions, you’ll receive personalized, prompt and responsive service by an experienced staff that has a thorough understanding of the business that you’re in and in specific products designed for the type of clients that they serve. They not only look at the various exposures you may be facing in today’s complex world but also at emerging trends and newer vulnerabilities that exist, such as phishing schemes, wire fraud and the theft of money through extortion.
These are the type of exposures that affect all banks along with many other types of businesses. This enables the organization to design an insurance program that will provide long-term protection to you, the client.
They fully realize that to properly protect against these risks, a Bankers Professional Liability (BPL) policy is required. A BPL policy offers banks, their executives and employees coverage for any claims of alleged errors or omissions in professional services rendered to customers. FGIB can provide you with this policy and customize the coverages you require to address your operations and the services you offer.