An Increasingly Regulated and Litigious Environment
Financial institutions operate in an increasingly regulated and litigious environment. As technology advances, the breadth of services offered expands as institutions compete to stay ahead. These changes expose institutions to new and complex risks.
Partnering with a Specialist Broker is critical to securing the best terms and advice
Choosing a Specialist Insurance Broker with experience and expertise in the financial institutions sector is critical to securing the best possible terms and advice. The QPI team consists of risk management, legal, and insurance experts, with each advisor boasting over 20 years of industry experience.
We see ourselves as an extension of our clients’ businesses, taking the time to thoroughly understand what you do and identifying any potential risk gaps. We collaborate with leading insurers to provide robust, seamless insurance solutions tailored to:
- Investment Managers
- Private Equity Firms
- Venture Capital Firms
- Banks and Building Societies
- Fund Managers
- Corporate Finance/M&A Specialists
- Wealth Managers
- Hedge Funds
- Stockbrokers
Essential Insurance Cover for Financial Institutions:
Professional Indemnity (PI)
This covers compensation claims and legal costs that may arise from negligent acts, errors, or omissions during the provision of services and advice to clients or third parties.
Directors’ and Officers’ (D&O
Directors’ and Senior Executives in the UK are subject to legislation, such The Companies Act 2006 which contains more than 200 offences. Your personal assets and that of your spouse can be at risk should a claim be brought for alleged wrongful actions and decisions taken while running the business.
Examples could be regulatory investigations, corporate insolvency, breach or mismanagement of data, corporate manslaughter and employment related issues, such as harassment or discrimination.
Directors’ and Officers’ (D&O) Insurance reimburses directors’ and senior managers for legal defence costs, compensation payments and investigation costs and can also reimburse the entity should they pay a claim on behalf of the individual.
Crime
Crime Insurance provides cover for employee fraud, theft of property or money at your premises, computer funds fraud, counterfeiting and criminal actions by employees or third parties.
Cyber Liability
Financial Institutions are one of the most targeted sectors for Cyber Criminals and therefore robust Cyber Liability insurance cover is essential. A cyber insurance policy can provide broad first party and third-party cover in the event of a breach of data or cyber-attack.
The most common type of cyber-attack is Ransomware, this is a type of malicious software which encrypts an organisation’s electronic files, data and applications, preventing you from being able to access until a ransom is paid.
The malware is usually distributed through phishing emails or by visiting an infected website.
Quality, Professionalism and Integrity
We place great importance on delivering an insurance program based on our core values: quality, professionalism, and integrity. We believe that our clients’ needs should come first and not that of the insurer.
Ready to experience a new level of service and expertise?
Contact Hayley Dawson today for a no obligation chat at hayley.dawson@qualitypi.co.uk, or call me on 07955 270487.