Osiguranje finansijskih ustanova

Financial institutions insurance

Financial institution insurance is a complex area of insurance solutions necessary for successful business and performance of activities. Perhaps now more than ever, we are witnessing the complexity of financial institutions and the risks such institutions are exposed to. Whether it’s a bank, insurance company, brokerage company, stock exchange, risk, private or venture capital fund, there are many common specific risks, such as:

Lawsuits against directors and executives
Dishonesty or personal benefit of employees
Third-party fraud or cybercrime
Credit card abuse
Customer dissatisfaction
Employee lawsuits
Problems with debt collection

and other risks.

Financial institutions insurance covers a wide range of market participants and protects them in relations with clients, regulators and investors. In terms of fundamental operations and processes, insurance against risks connected to financial transactions and customer data is particularly important in the banking sector. One of the reasons for this is the tightening of regulations on personal data. More significantly, with the development of IT solutions and digitalisation in banking, the domain of personal data carries severe risks for the security of transactions and clients.

For bank employees, at different levels of work and management, professional liability insurance is essential because they are exposed to possible errors in the provision of financial services, the consequences of which can be severe in terms of reputation and finances.

For management in the banking sector, directors and officers liability insurance (D&O insurance) is also important to protect against potential claims for damages from clients, owners or regulatory bodies.

For bank clients, insurance against embezzlement and theft, as well as insurance against cyber-attacks that could compromise client data or finances, are necessary to protect banks from financial losses and preserve their reputation.

When it comes to leasing companies, the risks are similar to banks, but there is also a need for insurance against risks related to the loss of property value and non-payment of clients. 

In the area of capital funds, insurance against risks associated with the management of investment portfolios and market fluctuations is of crucial importance. Professional liability insurance is significant for employees and management because they make decisions about investments that can affect the return of investors and damage their financial position, and there are risks of potential lawsuits from investors and regulatory bodies. On the other hand, insurance against loss of investment is important for investors, as well as insurance against financial losses due to market changes.

In all these sectors, insurance plays a key role in protecting against financial risks and supporting employees, management and companies. In addition to financial protection, insurance also contributes to preserving the reputation and trust of clients and investors. Besides the above, the specific aspects of insurance may vary according to the specific characteristics and challenges of each sector.

Such a complex conjuncture of possible risks means there is no single product or even a group of products that would be a general solution for financial institutions insurance. This is precisely the situation where the methodology of EuroSolutions, which involves a detailed analysis and creation of solutions based on the client’s needs, comes into play. The optimal way to respond to the identified risks faced by financial institutions is to combine several types of insurance and policies, such as

Need advice or a proposal for financial institutions insurance?

We are here to familiarise you in detail with the differences in the programs of insurance companies that offer products necessary for financial institutions and clarify the elements of coverage of each policy we can use as part of the comprehensive solution. No matter whether you are a bank, fund, leasing company or other form of financial institution, we will analyse all needs and elements of coverage for your institution and employees and create a unique solution that provides optimal protection against the risks you are exposed to.