Bankers Blanket Bond
No two financial organisations are the same, so we believe there is no standard Banker's Blanket Bond policy. It’s our mission to create a unique policy that is relevant to your organisation.
A Bankers Blanket Bond is a “Wrap-Around” type of cover designed to protect any Financial Institution (bank, microfinance institution, leasing company etc.) against financial loss caused by their own employees or by Third Party theft such as robbery or holdup. Most policies also have a cybercrime section, in view of the growth of this kind of risk.
The Banker's Blanket Bond consists of sections known as Insuring Clauses. Each clause offers protection to a financial institution against a clearly defined risk of financial loss. A financial institution may have a Bond in which all Insuring Clauses are included, or the client may select only those that are relevant to the business.
People & Partners Insurance has extensive experience in tailoring such coverage to meet the exact needs of clients. Our friendly professionals will listen to your requirements and use their knowledge of policies, laws and the latest developments in the industry to provide important options. We feel it’s our responsibility to minimise as much risk as possible, but it is entirely the right of each client to choose exactly what clauses they believe should be included.
Scope of cover
This is very wide and designed specifically for Financial Institutions.
- Dishonest or fraudulent acts by employees
- Loss resulting from theft, larceny, false pretenses, burglary, bobbery or hold-up
- Property in safe deposits/vaults
- Property/money in transit
- Forgery or alteration of cheques, bills, certificates, letters of credit etc.
- Loss of securities, share certificates, bonds, debentures etc.
- Counterfeit currency
- Offices and contents (except loss by fire, which can be covered separately with a Fire Insurance Policy)
- Legal fees incurred in defense or prosecution in court
Possible extensions of cover
- ATM Machines wherever located
- Normal self-Insured deductibles under the policy schedule
Why should you choose People and Partners Insurance PLC?
We have assisted many financial institutions on this class of very specialized cover. We can advise you on the best cover, tailor made to fit your own particular loan offerings and branch structure.
We will assist you to complete the extensive proposal form involved and guide you on cover limits, deductibles etc., to get the most competitive terms.
We place all our reinsurance into “A” rated International Reinsurance Markets in Asia and Europe.
We Settle claims quickly. For this complex class of business, and to assist our clients in the claims process, we normally would appoint a loss adjuster to help investigate and itemize the claim. PPI would pay these fees for this expert service as part of the claim.
Getting the right cover is easy
Our expert staff will assist you to provide all the details needed to get the fullest protection at the most competitive premium cost.
Our team is ready to create a Bankers Blanket Bond that perfectly meets the requirements of your organisation. Contact us by phone, message us on Facebook or use the form below.
- Entire Dedicated Division
- Comprehensive Risk Packages
- Reinsured Outside Cambodia
- Call toll free 1800 219 878