Financial Institutions

Management liability solutions for core financial sector activities

Overview

A sector with unique challenges

In a difficult economic environment, businesses in all sectors face challenges. Many financial institutions face additional pressures generated by increased regulation, robust capital and lending criteria, and a global drive to improve disclosure, increased transparency and enhance shareholder protection.

AIG takes a specialist approach

This is why the specialist liability needs of financial institutions and financial service providers are addressed by a dedicated team. Their focus is to stay abreast or ahead of developing regulation reforms so that our products can be constantly updated to provide appropriate insurance cover for emerging areas of risk.

Who is it for?

All financial institutions, including banks, hedge funds, venture capital firms, fund managers, insurance and investment management companies.

What is covered?

Civil Liability

Professional Indemnity Insurance on a Civil Liability basis.

Banker's Blanket Bond

Protection against losses resulting from its employees' dishonest or fraudulent acts (performed individually or in collusion with other persons) and from third parties' acts committed with the intent to obtain financial gain.

Directors and Officers Liability

Protection for claims brought against directors, officers and senior employees for actual or alleged breach of duty, neglect, misstatements, errors or omissions. Entity cover for securities claims and employment practice liability are also available.

Employment Practice Liability Insurance

Protection for employees and the company from the financial consequences of employment practice violations covering damages/awards and legal costs of official investigation.

Trustee Liability

Protection for the trustees, the employees and the Trust itself against claims brought against them for actual or alleged wrongful acts committed in their capacity as a Trustee.

Investment Management Insurance

Financial protection for Investment Management Companies, Investment Funds and Investment Trusts against civil liability, directors and officers liability claims and fraud.

Public Offering of Securities Insurance

Single purchase liability product protecting the company and its directors, officers and employees against securities claims brought in connection with an offering.

Venture Capital

Financial protection for Private Equity Managers, Venture Capital Managers, and related investment funds and partnerships against professional service claims, directors and officers liability claims, employment practices liability claims and outside directorship liability claims.