Although you may not realize it, financial institutions, like many businesses, require errors and omissions insurance coverage, and AXIS can help. Speaking to an agent can help you determine how much and what kind of coverage your financial institution may need, based on your specific exposures.
AXIS offers errors and omissions policies that cover exposures resulting from the following:
- Alleged or perceived underperformance.
- An alleged breach of contract or of agreed investment parameters.
- Lack of due diligence prior to making investments.
- Alleged bad faith.
- Alleged failure of internal risk control.
- Concerns regarding the suitability of particular investments.
- Incorrectly executed trades.
- Alleged dishonest acts.
- Alleged mismanagement.
While many insurance companies offer coverage against these exposures, AIS is unique in offering customized policies to individuals financial institutions, based on their unique situations and exposures. For example, individualized policies can be constructed to include:
- Customized policy and aggregate limits.
- Coverage for fines and penalties.
- Regulatory investigations.
- Cyber breach liability.
- Coverage for both the institution and its employees and agents.
In addition to traditional financial institutions, AXIS offers coverage for other similar institutions, such as:
- Hedge funds.
- Insurance companies.
- Investment advisors.
- Activist funds.
- Private equity funds.
- Real estate syndicates.
- Real estate trusts.
Don’t leave yourself or your company exposed to possible litigation, fines, and other costs. Instead, seek appropriate errors and omissions coverage.