financial institutions News

Ironshore’s Pembroke Agency Expands UK Financial Institutions’ D&O Cover

Ironshore’s Pembroke Managing Agency Ltd. has enhanced its directors & officers liability product for financial institutions to reflect U.K. regulation. The new regulation, known as the “Senior Managers Regime,” places greater personal accountability on senior managers of U.K. financial institutions, …

Markel International Launches Fintech Business Protection Cover

Markel International, the London-based specialist insurance subsidiary of Markel Corp., has launched a policy offering comprehensive protection for businesses in the financial technology (fintech) sector, which includes trading platforms, forex platforms and peer-to-peer crowdfunding sites. In financial services businesses, where …

Willis Towers Watson Appoints Financial Institutions Leader for CEEMEA

Willis Towers Watson has appointed Alexander van Kuffeler as regional leader of Financial Institutions in Central & Eastern Europe, Middle East and Africa (CEEMEA). Based in London, van Kuffeler takes up the role with immediate effect. He will focus on …

BHSI Launches Bankers Professional Liability Insurance Program

Berkshire Hathaway Specialty Insurance (BHSI) today launched Professional First Bankers Professional Liability Insurance in the U.S., adding to its executive and professional liability products for financial institutions. Professional First Bankers Professional Liability Insurance offers banks, their executives and employees, coverage …

ACE Group Warns UK SMEs About Higher Fraud Risk in 1st Quarter

Fraud cases are on the rise and the profile of fraudsters is changing to include more young individuals seeking to fund extravagant lifestyles, according to ACE Group. As pressure on bank balances grows after the traditional Christmas excesses, ACE warns …

Aon Report Identifies Key Risks for Financial Institutions in EMEA

Understanding and managing risk is increasingly a critical success factor for financial institutions, according to a report on financial institutions issued by Aon Risk Solutions, the risk management business of Aon plc. Entitled “2014 EMEA Financial Institutions Industry Report,” the …

QBE North America Launches Management Liability & Professional Lines Coverages

QBE North America’s continues its expansion into the management liability & professional lines arena with the launch of three new products for public and private commercial companies and financial institutions and non-profit businesses. The three products currently available in the new suite …

Zurich Launches Risk Management Tool for Financial Institutions

Zurich has launched a new Enterprise Risk Management (ERM) healthcheck assessment tool for financial institutions.  The tool was created to assist financial institutions in response to recent regulations making them more accountable for risk management. “The ERM Healthcheck helps financial …

Ironshore Adds Financial Institutions Practice

Ironshore Inc. has added a new global practice focused on financial institutions and expanded its industry leadership structure to address the select, industry-specific insurance market risk. Christopher Brown of Ironshore’s Pembroke Managing Agency, based in London, has been named practice leader …

D&O Lawsuits by FDIC on Record-Setting Pace: Cornerstone Research

This year’s Federal Deposit Insurance Corp. (FDIC) litigation over failed financial institutions is already exceeding that of the previous three years. According to a new report by Cornerstone Research — Characteristics of FDIC Lawsuits against Directors and Officers of Failed …