ACE elite Financial Institutions Professional Indemnity Insurance
ACE’s elite Financial Institutions Civil Liability Insurance policy has been created to provide protection to all types of financial institutions with respect to the professional services that are offered to clients or customers around the world. The policy can be tailor-made to suit the needs of individual financial institutions in an increasingly volatile and hostile environment.
- Legal Representation Expenses for attendance at investigations, including regulatory investigations up to the full limit of the policy.
- Mitigation Costs sub-limit of US$50,000.
- Full continuity while the Insured has maintained a professional indemnity policy without interruption from ACE, with no fraudulent non-disclosure or fraudulent misrepresentation.
- Loss of documents, defamation and breach of privacy cover to the full limit of the policy.
- Loan administration expenses resulting from a claim are covered
- Extradition Bail Bond Costs sub-limit of 10% of the Limit of Liability. Extradition Crisis Costs sub-limit of US$25,000.
- Public Relations Expenses to hire a public relations firm, crisis management firm or law firm, to prevent or limit negative publicity arising from a claim.Sub-limit of US$100,000.
ACE will pay to or on behalf of the Insured all civil liability losses arising from acts, errors, omissions, breaches of duty, breaches of trust, breaches of fiduciary duties or breaches of any applicable regulations, while performing or failing to perform professional services. The cover includes the conduct of any other person for which the Insured is legally responsible.