Financial Institutions

Why financial institutions need specialist cover

The regulatory environment for financial services firms has intensified significantly in recent years. Increased ASIC enforcement activity, evolving best interest duty requirements and mandatory breach reporting obligations mean that financial institutions face liability exposures that extend well beyond traditional professional indemnity.

What we cover

Professional indemnity — covering advice failures, misrepresentation, breach of fiduciary duty, regulatory investigations and defence costs. We ensure your policy responds to the specific AFSL conditions and regulatory obligations applicable to your business.

Management liability — D&O cover structured for the personal liability exposures of financial services directors, including ASIC investigations, disqualification proceedings and banning orders.

Cyber liability — covering client data breaches, funds transfer fraud, social engineering losses and regulatory notification costs. Financial institutions are prime targets for cyber attacks.

Crime and fidelity — covering employee dishonesty, fraudulent transactions and third-party crime targeting your operations.

Financial lines — including bankers blanket bond, investment managers insurance and fund liability cover, structured for the specific products and services your firm provides.

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