Banking

Deposit insurance

Typically returns depositors’ money, up to a limit, if a bank fails, through government schemes and designated bodies.

Can include deposits within the limit, bank failures or insolvencies and other financial crises

Banker’s blanket bond

Often reimburses a bank for losses from employee theft, forgery, fraud, counterfeit currency and computer-related crime.

Can include dishonest employees, forged or altered documents, securities and counterfeit currency

Crime

Generally reimburses losses from theft, forgery, computer fraud and extortion, whether staff or outsiders commit them.

Can include dishonest employees, forged or altered documents, burglary and robbery and computer fraud

Cash in transit

May repay losses of cash, checks and valuables taken in armed robbery, snatch-and-grab theft or break-ins during transit.

Can include theft or robbery, destruction or damage, dishonest employees and delays in transit

Fidelity bond

Can compensate for losses from an employee’s theft, embezzlement, forgery or fraud, including altered checks and fraudulent electronic transfers.

Can include dishonest employees, computer fraud, forged or altered documents and stolen client property

Directors and officers (D&O) liability

Can protect bank directors and officers against claims alleging mismanagement, negligence or regulatory breaches in their decisions.

Can include individual liability (Side A), company reimbursement (Side B) and entity coverage (Side C)

Cyber

Typically pays for breach response, system restoration and liability for compromised data after a cyber attack.

Can include breach response, business interruption and security failure liability

These guides describe types of insurance in general. The right coverage depends on your operations and the terms of the policy issued. Pasaca’s featured lines are cyber insurance, directors and officers (D&O) liability insurance, product liability insurance and aviation insurance.