Risk Identification and Insurance for Banks and Financial Institutions – Alberta
Integrate risk management into your business strategy
Today’s banking rules and other regulatory changes have made your financial institution even more accountable to your clients and the authorities than ever before. Managing your business risk has become increasingly challenging. Whether you are at the head of a bank, trust company, a credit union, or another financial institution, arming yourself with a robust risk management plan and coverage solutions provides the solid protection you need to handle potential pitfalls.
Because unexpected hazards can thwart growth and success, it’s vital to pinpoint them at the outset of your risk management strategy. To avoid getting blindsided, BFL CANADA can help you detect them before they become an unresolvable issue that stands in your way.
See the blind sides of your risks from every angle
Let's build a custom insurance solution
Through multiple international partnerships and expertise, BFL CANADA can provide the up-to-date, country-by-country solutions and advice that enable your financial organization to thrive. Our custom coverage solutions are designed to help you navigate within different legal and regulatory environments, whether you are a stockbroker, mutual fund manager or handling private equity.
Protects against Employee Dishonesty (Crime) that continues to be a costly issue for most employers. Enterprising employees work to find a way around internal controls and are able to perpetrate a fraud, whether involving their employer’s money, or theft of client property. Having the right coverage to protect against these employees is paramount.
BFL CANADA works with insurers to provide not only our clients, but also their customers, with leading fidelity and crime insurance products.
Protects from advice or services provided to individuals, companies, or other third parties, including advice to investment funds.
The unique nature of financial institution operations requires broader coverage to address these operations, including common errors that lead to Cost of Corrections or Directors and Officers claims. BFL CANADA works with insurers to develop and provide market-leading insurance coverage.
Provides coverage for the lender’s interest in mortgaged property in the event of uninsured or underinsured damage to the property. Mortgage impairment insurance is a specialty property insurance provided for mortgage lenders.
At BFL CANADA, we ensure that the coverage is broadened beyond the industry standard to include such coverages as Earthquake and Flood, in addition to Mortgageholder’s Errors and Omission.
Often provides coverage against business interruption. When a loss of, damage to, or corruption of your electronic data impacts your ability to carry on business, cyber policies not only address the loss caused by the hacker or other root cause, but also cover income losses and extra expenses that result from an interruption of your computer system by a covered event.
BFL CANADA ensures that you have the appropriate coverage and explains how cyber business interruption and property business interruption differ.
Takes two key forms: against political violence — the risk that revolution or other political conditions result in a loss; and political credit risk — a form of protection which provides additional cash flow stability and mitigates adverse governmental actions that would impair financing transactions and/or payment terms.
BFL CANADA works with leading insurers with a global presence, and a strong appetite and significant capacity for these solutions.
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The BFL CANADA advantage
BFL CANADA has achieved extraordinary growth because of our consistent ability to perform and deliver due to our expertise, professionalism and dedication, as well as our entrepreneurial culture. This culture and work ethic have driven our growth and attracted organizations with which we have established meaningful and mutually beneficial partnerships.