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Financial institutions are exposed to diverse, ever-changing risk. Apart from those inherent in managing other people’s money, statutory compliance and disclosure are areas where financiers, stockbrokers and bankers must tread with great care. Increased regulation, robust capital and lending criteria, and a global drive to improve disclosure, transparency and enhance shareholder protection come with their challenges.
More than ever before, expert insurance has become of critical importance for financial institutions.
Our brokers provide specialist expertise and customised covers for:
Crombie Lockwood has a dedicated broking team to look after financial institution insurance, people with years of experience who constantly monitor the regulatory and legislative changes that impact upon the finance sector. We work closely with industry and regulatory bodies to ensure understanding and compliance.
Insurance from Crombie Lockwood means:
Given that the risks are so big and the market so small, the insurance market for financial institutions in New Zealand is limited. At Crombie Lockwood we use our relationships with international underwriters to secure insurance for financial institutions in New Zealand as well as overseas.
Professional indemnity insurance is designed for professionals who provide advice or a service to their clients.
Directors and officers insurance protects your executives and board from personal financial risk.
Statutory liability insurance can protect business's against certain unintentional breaches of New Zealand law.
Public liability insurance minimises the potentially huge financial impact on a business should the unexpected happen.
Crime and fidelity insurance covers claims for loss to the business from fraudulent or dishonest act or acts committed by employees & third parties
Cyber insurance helps business recover from a data breach or cyber attacks from ransomware, malware or a virus.