Bankers PL

Offered by Chubb Group

Financial Institutions Bankers Securities Broker Banks Professional Liability


The Chubb Group of Insurance Companies has developed an E&O insurance policy for large financial institutions. BPL for Financial Institutions addresses traditional banking exposures, such as the taking of deposits and loan-making, but can also respond to emerging fee-for-service exposures. BPL for Financial Institutions provides customers with several options to address emerging fee-for-service operations.

Services and some of the corresponding exposures that may be addressed by Endorsement include:
- Securities broker dealer, which has exposure to allegations of misleading sales practices and documents, improper advice, "unsuitable" customer products, inadequate disclosure, failure to execute trades properly or conflicts of interest;
- Insurance agents or insurance brokerage which has exposure to allegations of conflicts of interest, misleading sales practices, improper coverage advice, errors in placing insurance coverages and in errors determining proper coverage or coverage limits, or failure to report all insureds to the carrier;
- Lending liability, where there is exposure is to breach of contract, violations of the Truth in Lending Act, failure to grant a loan after leading a customer to believe a loan would be granted, interference with a customer's business, or wrongful foreclosure on a loan or the repossession of collateral;
- Data processing services where there is exposure to errors in coding or in routing processed checks.

Primary aggregate limits reach $15 million. Excess limits of up to $10 million are available in layered programs of $100 million. Deductibles typically exceed $100,000.

Carrier Information




Rating A++

Rating By A.M. Best

Offered By

Chubb Group

4 listings in 50 states + DC

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Availability 44 states

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming


Not Covered

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