In the past few years, the financial services industry has been experiencing “bumps” and making headlines with events such as bankruptcies, frauds and shareholders’ lawsuits, to name just a few.
Some of these new rules make you even more accountable to your clients and authorities, and therefore, managing your business risk has become increasingly challenging. And as a consequence of the crisis, your corporate leaders are focusing additional attention on risk management; it has now become an integral element of developing and executing business strategies.
BFL understands that beyond the regular business insurance of property, general liability and directors’ and officers’ liability, you manage very specific risks such as:
- Employee dishonesty, forgeries or alterations, robberies, burglaries and even disappearance of property on your premises protected by financial institution bonds
- Errors and omissions, misstatements, breach of trust or breach of duty whilst performing or failing to perform professional services for clients covered by investment managers’ E&O
- Mortgage portfolio risk protected by mortgage impairment insurance
- Interruption of business services that occur due to hacker attacks, malfunctioning software or hardware, viruses, and other forms of malicious and inadvertent online attacks protected by cyber risk insurance
Financial institutions' risks are complex, and few insurers and brokers are experts in this field. You can rely on BFL CANADA and our extended international team to provide up-to-date, country-by-country context and advice as your operations expand, or change as your organization ventures into different legal/regulatory environments.