As a new bank who’s in need of insurance coverage, you may be wondering what is financial guaranty insurance. You may have heard about it, but you’re unsure of what it offers and how it can benefit you. With banks operating in such a risky, high-stakes environment, it’s important that you have adequate insurance coverage to keep your assets protected. Here are three coverage options available through financial guaranty insurance that will keep you protected.
As seen on www.fgib.com, liability insurance protects you against third-party lawsuits. Some examples offered by financial guaranty insurance include:
- General Liability
• Errors & Omissions Liability
• Directors & Officers Liability
• Employment Practices Liability
• Cyber Liability
Crime insurance provides coverage for a variety of internal and external criminal acts. Funds are made available to protect you against acts ranging from employee dishonesty to wire fraud and kidnap and extortion to name a few.
Commercial Property Insurance
Commercial property insurance protects your building, equipment, furniture, and data. In case of a fire, storm, vandalism or theft, your policy would cover the costs to repair or replace your covered assets.
Other coverage options are available to keep your bank protected against loss. Take advantage of the flexible offerings to build a policy that’s right for you.