The Secret Behind Financial Bond Insurance and How It Can Protect You

Protecting your assets is a hard lesson many Americans learned during the last financial crises. As times get tough once again, many financial institutions are getting pressure from clients as they acknowledge they are constantly being bombarded by a wide range of potentially damaging exposures. Banks, credit unions, internet and investment banks, brokerage firms, and savings and loan associations all look to financial institution bond coverage for protection. Here are some ways that financial bonds can provide coverage.

The Bankers Blanket Bonds

Once known as the banker’s blanket bond, the financial bond is prepared by an insurer under which coverage can contain illegal employee acts including

Burglary
Forgery
Theft
Robbery
Intentional dishonesty

This business insurance protects you and your company from finance-related and on the job problems associated with your employees.

The Risks Have Expanded

While times have changed, the threats and risks to financial institutions have also transformed. No longer is it a simple case of watching your employees to protect yourself. Financial institution bond coverage can now also cover

Kidnapping
Computer fraud
Extortion
Counterfeiting

Protect your balance sheet with a financial institution bond. No matter how large or small your business is, a financial bond can protect you from threats by employees from inside and outside your institution. Check with your insurance provider today to see what programs they can design for your business.