Comprehensive Solutions

Claims that may trigger at the same time the D&O liability, professional indemnity and the fidelity (crime) insurance are not uncommon for financial institutions. From the perspective of claims handling, it should be preferable for the insured to have these risks insured with one and the same insurer.

Comprehensive solutions are available for a number of financial institutions and service providers like banks, fund managers or independent asset managers.

A standard product, - the name says it all - often does not match the client’s individual risk profile and maybe leaving the client unaware of critical gaps in coverage. Leading insurers often provide 'off-the-shelf' insurances with impressive features and attractive pricing. Such policies are sometimes very efficient to bind, no annoying questions asked.

However, most of the times these standard products contain unusual exclusions that limit coverage and/or the insured has to comply with specific contractual obligations as a condition precedent to an insurance claim made and successfully settled. We help our clients to eliminate such clauses from their policies.

For most companies, insurance represents one of their biggest investments and their largest source of contingent capital. The main purpose of insurance is to protect their balance sheet, and to reduce volatility in the profit and loss account following a large loss.

The challenge for insurance buyers is raising the awareness of the value of insurance beyond that of a commodity, and articulating how individual insurance covers can contribute to the financial strategy and financial modelling of the organisation.