This coverage is to insure banks and other financial institutions against employee dishonesty, burglary, robbery, fraud and other crime exposures.
This coverage is to insure the fiduciary responsibility to the bank’s customers, shareholders, and the general public. This coverage protects the personal assets of the directors, officers, and the employees of the bank from losses arising from wrongful acts.
These coverages protect the bank’s assets from physical loss due to fire, windstorm, lightning, vandalism, damage from vehicles, and a host of other physical exposures. Additionally, a portion of this coverage provide premises liability for injuries sustained by people while they are on the bank’s property. Other coverages that are normally considered part of the package policy are Worker’s Compensation, Commercial Umbrella, and Commercial Auto.
This coverage protects the bank and its customers against fraudulent access to accounts via electronic means. This coverage also protects against damages incurred by customers in the event they acquire a computer virus through using the bank’s website.
This policy protects the bank against loss arising from the fraudulent use of a bank card at an electronic terminal or for fraudulent use of a card where property or services are sold and delivered by a merchant to an individual purporting to be the cardholder.
Mortgage Impairment protects your bank’s mortgage interest when you are unaware of a lapse of insurance coverage and a loss occurs to the mortgaged property.