insurance for banks

Banks are some of the important institutions of today’s society. The lives and assets of millions of people around the country lie securely within a bank’s vaults. Unfortunately, these qualities also make them a big target for a large amount of possibly devastating incidents. Why not prepare for the worst with a package that includes insurance for banks? These policies can make sure your bank and your clients’ investments are protected.

Crime Protection

Crime insurance is must for every business, especially banks. Many agencies can set you up with different crime policies that cover different incidents including:

Wire Fraud
Employee Dishonesty
Ransom and Extortion
Counterfeiting
Damage Due to Robbery

Cyber

Many criminals don’t barge into a bank completely armed. Instead, they hide in front of the safety of their computers. That is why cyber liability insurance is a must. Depending on your contract, an agency can help with the fallout of information breaches, cyber-attacks, ransom payments, defense costs, and indemnities. 

Professional

It is also wise to protect your own with professional insurance. Some policies that are recommended for banks are errors and omissions, directors and officers, bankers professional liability and employment practices liability.

Insurance for banks can seem like a complicated venture. Thankfully with the right agent or broker, you can set your bank on the path to preparedness!

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