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  • Chartis Cyprus Limited
    Head Office
    26, Esperidon Street, 2001 Strovolos, Cyprus
    P.O.Box 21745, CY-1512 Nicosia.
  • Tel: +357 22 699 999
  • Fax: +357 22 699 700
  • Email: ask.chartis@chartisinsurance.com

Financial Institutions Professional Indemnity and Bankers Professional Liability Insurance (BPL)

Description

Commercial banks, insurance companies and other financial institutions collectively offer a broad range of services to corporations and individuals, including trust management, real estate management and brokerage, securities brokerage, electronic data processing, loan origination, tax planning and wire transfer services. Increasingly, bankers and their institutions are vulnerable to lawsuits alleging failure to render professional services and commitment of errors and omissions in the execution of professional services. BPL insures bankers and banking institutions against claims of actual or alleged wrongful acts, errors, omissions and failure to render such professional services.
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Commercial banks, savings banks, and savings and loan institutions that offer professional services to third parties for compensation, as well as their directors, officers, partners and employees.

For firms based outside of the USA and Canada, coverage may be written on a worldwide basis, including the jurisdictions of the USA and Canada. For USA and Canadian companies, coverage plans are offered for foreign operational exposures and for liabilities arising from products exported from the home country.

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While coverage may be obtained through foreign markets, our experience has found it to be more costly and less responsive to both brokers' and insureds' needs.
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Provides payment for defense costs, settlements, judgements and other legal expenses.

  • Covers claims brought against the insured anywhere in the world.

  • Offers Employed Lawyers Professional Liability coverage as an option.

BPL can be customized in almost any way to serve a financial institution's insurance needs (subject to policy limitations). BPL offers one of the most economical ways to secure a comprehensive professional indemnity program.