Financial institutions insurance
With D&O, PI and Crime Insurance designed specifically for financial institutions, our industry specialists have you sorted.
We insure the world’s innovators
David and Hugo were an immense help in securing our business needs and turning around our requests allowing no change to our business momentum. Superscript have been amazing to work with, they understand both a start-up's needs for pace, but also the FinTech industry. There was no need for further explanation, they just knew what we needed.
Frederika Johnstone, Chief of Staff, Banked
Financial institutions insurance FAQs
Yes, we understand that running an innovative business means clients will require a policy that is flexible enough to meet the evolving risks your business faces as you grow. As such, your policy can be adjusted where necessary during its lifetime.
Following a review by the regulators of insurance companies, insurers are no longer permitted to offer ‘silent’ Cyber coverage. This is where Cyber cover is included only by virtue of not being excluded. We will work with you to review your crime policy in conjunction with your cyber requirements to ensure that your needs are met conclusively by both policies.
Yes, if certain conditions are met. Your Superscript policy will make very clear what your requirements are in respect of verifying payments. If you have adhered to those standards and still suffered a loss then your crime insurance can cover your losses.
Superscript will work with you to develop broad definitions of ‘wrongful acts’ and ‘professional services’ to ensure that all of your activities are captured, including ancillary and back-office functions.
Furthermore, unambiguous mitigation coverage will allow you to correct a mistake without having to invite your customer to make a claim. This protects your reputation along with your balance sheet.
We can ensure that the definition of an ‘insured person’ extends to all individuals who are accountable under the Senior Managers Certification Regime (SMCR). This ensures that any senior managers who may face investigations where they are personally accountable are protected by the policy.
ESG risks for directors are becoming more prominent. In order to protect your executives, Superscript adopts a broad definition of a ‘wrongful act’, which includes actual or alleged acts relating to social or environmental responsibility, bullying, harassment or discrimination.