Speciality Solutions for Bank Protection
Banker’s blanket bond insurance is the global standard solution for the banking industry for protection against the risks and liabilities of operating a financial institution. The BBB policy will allow you to compensate for losses, including from the loss of values at the cash desks and vaults of banks, as well as during their transportation. A financial institution is faced with such risks in its operations on a daily basis and requires a suitable risk management policy.
Product Description:
Bankers blanket bond (BBB), also known as a blanket fidelity bond, is an insurance policy that covers a bank for risks related to fraud and dishonesty. Howden's financial risk consultants provide risk management support based on claims trends and insights, helping you stay one step ahead of financial crime.
Bankers blanket bond is a highly tailorable risk management solution, intended to protect against clearly defined definitions of financial loss.
It’s useful in scenarios where a criminal element is working against the interests of the bank. For example, check fraud or bank robbery. Employee dishonesty that works in the bank’s favour, e.g. to make an institution look more profitable, is one example of fraud that wouldn’t be covered
Risks Covered:
Infidelity of Employees
On Premise Coverage
In Transit Coverage
Hold-ups and robbery
Forgery and Alteration
Securities
Counterfeit Currency
Cyber and computer crime
Damages to Offices and its Content