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Financial Institutions Professional Liability

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What is Financial Institutions Professional Liability Insurance?
Financials Institutions such as Banks, Lending Institutions, Investment Advisors and Broker Dealers offer their clients complex financial services and are facing more regulation than ever before. As they diversify and expand services to remain competitive, each advancement poses new and potentially significant risks to the firm. Financial Institutions face an array of potential professional and management liability exposures from governmental agencies, customers, creditors, vendors and competitors, any of which can result in a devastating lawsuit or regulatory proceeding.

Let CMI secure the following multi-faceted protection needed by your financial institution:

  • Professional Liability

  • Directors & Officers Liability

  • Employment Practices Liability

  • Fidelity Bond

  • Fiduciary

  • Cyber

  • Kidnap & Ransom

Claim Example

Why it’s smart to have Financial Institutions Professional Liability Insurance
One of your clients requests to liquidate his account effective immediately. One week later the client calls to check on the status of the liquidation and the client representative finds no record of the request. During that week the market value of the account dropped by 20%. The client sues, alleging the company was negligent and, as a result, the client was unable to close on a real estate property due to insufficient funds.