FGIB:Securing Comprehensive Bankers Professional Liability Insurance
Community banks, savings and loan companies, credit unions, and other financial institutions are considered as safe keepers for their individual, governmental, and corporate customers’ assets. In the course of handling large sums of money, financial institutions and their employees and owners are subject to a variety of professional liability risks. These risks, for example, may include allegations of wrongful acts related to a bank’s administration of a trust, claims involving the mis-selling of financial products, claims by an investor that an adviser recommended unsuitable investments and/or failed to disclose risks concerning such investments, and so on.
To properly protect against these and other risks, a Bankers Professional Liability (BPL) policy is required. A BPL policy offers banks, their executives and employees coverage for alleged errors or omissions in professional services rendered to customers. Financial Guaranty Insurance Brokers (FGIB) can provide you with this policy and customize the coverages you require to address your operations and the services you offer.