Banks Insurance

Committed to delivering outstanding insurance for Banks

Banks are the lifeblood
of the economy

Providing critical infrastructure and the liquidity of the financial markets,
Banks don’t just represent economies but they represent the driving force
to societies drive and delivery.

Central Banks

Development banks

Commercial Banks

Islamic Banks

Cooperative Banks

Challenger Banks

Private Banks

Merchant banks

Investment Banks

Partner with Insurers

Elmore Credit Insurance

Credit (or non-payment) insurance covers the inability of the borrower, for whatever reason, to repay monies due under a lending agreement. Credit Insurance allows a Bank to:

  • Offer customers larger facilities
  • Avoid syndication
  • capital relief
LEARN MORE ABOUT CREDIT INSURANCE

Elmore Bankers Insurance

Reliance on networks, systems, data, cloud technology, and outsourced service providers exposes a Bank to an array of risks. Changes to regulation, perception to corporate responsibility and increased media attention towards Bankers have focused the importance of effective operational, financial and technology risk management.

The Elmore Bankers insurance solution:

Identification of risk
Support in mitigating risk
Arranging risk transfer with Bankers Insurance
Claims Support and Response

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Banks Insurance Explained

With Technology being the differentiating factor for Banks, and regulation the opportunity to deliver innovative products and services to its customers, the backing of experienced Insurers behind a Bank it can trade knowing their balance sheet has critical support should an operational or credit loss event occur.

Banks are continuing to pioneer new ways in which services can be delivered. The engagement of its customers, the reputation it maintains and grows and the risks of operating a bank in todays fast paced environment means at even the most benign times, challenges can post them-selves unexpectantly.

Managing operational and credit risk exposures is one part of an effective risk management programme, Banks partnership with (re)insurers can provide catastrophe balance sheet protection.

READ BANKERS RISKS AND INSURANCE E-GUIDE

Elmore Bankers Insurance –
Policy Coverage

The following cover can be combined in one policy or offered in separate policies:

Directors & Officers
Liability

  • Claims by regulators
  • Claims by shareholders
  • Claims by employees
  • Claims by other stakeholders

Professional Indemnity
Insurance (PII)

  • Claims by customers
  • Claims for failure of service
  • Claims for failure of technology
  • Mitigation costs to put right

Cyber & Crime
Insurance

  • Event management
  • Reputation management
  • Financial loss incl. fines
  • Cyber liability

Office & Employee
Insurance

  • Property and equipment
  • Employers liability
  • Public liability
  • Travel insurance

ALSO SEE CREDIT INSURANCE

Multi-National Bankers Programme Management

In the scale up of a FinTech, rapid global expansion requires a coordinated approach to Insurance acquisition. Elmore’s network of established insurance partners around the world allows for a Global Insurance Programme. With the requirement to have local policies while being coordinated by one centralised function it can allow better compliance and visibility into the global requirements.

 

MULTI-NATIONAL INSURANCE PROGRAMMES

Partner With
Insurers

With a captive audience and engaged users why not consider cross selling insurance solutions along side the Bankers offering adding value to customers, differentiating your offering and brining a new income stream for the business.

  • Add value
  • Differentiate offering
  • Additional revenue source

Elmore delivers bespoke and innovative programmes for both consumer and business users, get in touch to learn more.

 

PARTNER WITH INSURERS

Bankers Operational
Risk Management

For Banks to partner successfully with it’s key stakeholders, it must appreciate the breadth and depth of financial and technology risk management. In particular, the Bank must understand the operational risk considerations that a stakeholder will need to consider before engaging them.

By following best practice controls and processes required to onboard insurance it can improves the overall governance and acceptance of a Bank. The diagram represents the benefits of mitigating and reducing risk to optimise risk transfer through insurance: