Insurance advice for financial institutions

Financial institutions

Insurance advice
for financial institutions

Financial institutions, including banks, insurers, lenders, and investment companies, are exposed to a wide range of financial risks. Threats such as internal and external fraud, cyberattacks, directors’ liability, and ransom demands present significant challenges. Adding to these risks are new regulations like the Digital Operational Resilience Act (DORA) and the Corporate Sustainability Reporting Directive (CSRD), which require constant vigilance. Even minor missteps can lead to substantial claims.

Traditional insurance policies for financial institutions often fall short in addressing the complexities of modern risks. For example, cyber incidents involving external service providers or new liabilities stemming from sustainability reporting may fall outside the scope of standard coverage. Without a proactive approach, financial institutions risk unexpected financial losses and reputational damage.

Cyber risks, in particular, are frequently underestimated. For instance, if an external IT service provider acts unlawfully, the financial consequences can be severe without the right coverage. AlliA provides tailored insurance solutions for financial institutions, offering a clear understanding of potential risks and protecting both your company and you as a director against unforeseen financial setbacks.

Our Specific solutions
for the Financial institutions sector

At AlliA, you can count on a complete insurance portfolio tailored to the needs of your financial institution, including directors’ liability (Directors & Officers Liability), professional liability (Errors & Omissions Liability), cyber insurance and fraud insurance. From protecting your private assets to hedging your business risks, our solutions are a perfect fit for your challenges.

We perform comprehensive audits of your policies and proactively address emerging risks, including cyber threats and external liabilities. This approach ensures your coverage remains up to date and prepared to meet future challenges.

Professional liability insurance (E&L)

Safeguards your business against financial losses caused by errors or negligence in providing professional services.

Directors and Auditors Insurance (D&O)

Protects the personal liability of directors and auditors against claims arising from errors in decision-making or allegations of mismanagement.

Employment Liability Insurance (EPL)

Covers risks related to employment-related claims, including discrimination, wrongful dismissal, or workplace harassment.

Mergers and Acquisitions Insurance

Provides protection against risks associated with acquiring or merging companies, including legal costs and potential liabilities.

Specific Insurance for Independent Directors

Offers tailored coverage for independent directors, addressing risks that may not be adequately covered by standard D&O policies.

Liability

Liability insurances protect your business and employees against the financial consequences of third-party claims.

Cyber & Fraud

Cyber and fraud insurances protect your business against financial losses from cyberattacks or fraud.