loading...
Language

Financial Lines Reinsurance

Strategic Security for Financial Success

Mekong Re provides a range of financial lines coverage to professional service providers that protects them against their potential operational risks. Our underwriters are experts in these products and have experience catering to both large global corporations and SMEs alike. As your long-term partner, we’ll safeguard your assets, properties, businesses and people, so you’re free to focus on what you do best.

Broadly, we offer four categories of financial lines insurance, but as ever, we can create a policy that is entirely bespoke to you.

Bankers Blanket Bond

What It Is

If you need to protect your financial institution from fraud, forgery, counterfeiting, robbery, loss of cash (either from a safe or in transit) as well as many other similar risks, you need bankers blanket bond insurance. We can tailor any policy to fit the precise needs of your bank. This placement works well in conjunction with cyber insurance.

Coverage

Financial Institution Directors & Officers

As business regulations tighten, the scope for suing individual directors and officers increases — often leading to heavy fines and imprisonment. Financial institution directors & officers insurance protects against such losses.

Financial Institution Professional Indemnity

This protects businesses and professionals from the financial consequences of their legal liabilities to third parties arising from breach of their professional duties. Certain professional bodies require their members to buy this type of protection. Additionally, financial institutions often purchase this type of cover to protect themselves from associated litigation.

Investment Management Insurance (IMI)

This is a comprehensive package policy designed specifically for funds and asset managers. It helps to cover key exposures including professional liabilities.

Bankers Blanket Bonds

Protects financial institutions against loss of assets (including cash, bullion, and securities documents) from either employee fraud or losses caused by third parties, e.g. through robbery, forgery, counterfeiting, transfer fraud or computer fraud.

Electronic and Computer Crime Insurance

Financial institution electronic and computer crime policies protect against the criminal application of a variety of computer systems, programs, electronic data and media, computer viruses, electronic communications, transmissions, electronic securities and voice initiated instructions.

Commercial Crime / Fidelity

Commercial crime and fidelity insurance safeguards non-financial institutions from losses associated with employee fraud (including cash, bullion, securities documents or similar valuable assets), losses caused by third parties through the loss of money, securities, etc., or from risks such as theft, embezzlement, forgery, robbery, counterfeit currency, employee dishonesty, safe burglary, computer fraud, and wire transfer.

Focus Areas
  • Banks
  • Money exchanges
  • Investment managers
  • Stockbrokers

Directors & Officers Liability

What It Is

Today, company directors and officers are under increased pressure to carry out their duties and obligations meticulously. Failure to do so may lead to personal liability for the individual director or for the entire board of directors. Directors & officers liability insurance (D&O) is liability insurance payable to the directors and officers of a company, or to the organisation(s) itself. If some kind of professional breach is flagged, and liability is placed with an insured director or officer, D&O protects the assets of company directors and other individuals of a corporation against such claims.

Key Exposures
  • Employees — actions alleging discrimination, harassment, breach of employment contract, defamation, misleading misrepresentation, wrongful discipline, etc.
  • Creditors — alleging that the director allowed the company to trade whilst knowing it could not pay its debt
  • Government agencies — directors and officers may be personally liable for breaches of hundreds of statutes
  • Competitors — Trade Practices Act claims brought against the directors for misleading and deceptive type conduct
  • Shareholders — alleging that the directors mismanaged the operations of the company and its funds
Key Features
  • Underwritten on a claims-made aggregated limit on a costs inclusive basis
  • Full policy limit available for breach of occupational health and safety laws
  • Advancement of defence costs
  • Cover for joint ventures and new subsidiaries
  • Continuous cover
  • Worldwide claim cover
  • Optional reinstatement of policy limit
Focus Areas
  • Prospectus liability coverage
  • Pension fund trustees liability
  • Employment Practices Liability
  • Runoff cover for up to 6 years (or as statutorily required)

Commercial Crime Insurance

What It Is

Our commercial crime policy protects companies against money, stock, goods, securities, property or funds being stolen by employees or third parties. It also protects against the theft of clients’ money or property for which you are responsible.

Coverage
  • Forgery and counterfeiting
  • Fund transfer fraud
  • Physical loss of, or damage to, property
  • Extortion
  • Computer malware
  • Corporate identity fraud
  • Contractual penalties

Plastic Card Fraud Insurance

What It Is

Plastic card insurance provides coverage for counterfeit plastic cards, lost or stolen credit / debit cards, employee dishonesty, merchant fraud and associated legal expenses. Typically, the coverage provided under the plastic card fraud is excluded under other financial lines coverage — so it’s extremely important to consider this cover.

Focus Areas
  • Banks
  • Non-banking financial institutions
  • Court costs and legal expenses coverage
Coverage
  • Counterfeit plastic card
  • Lost or stolen plastic card
  • Employee dishonesty coverage
  • Merchant fraud coverage
  • Court costs and legal expenses coverage

News & Insights

Discover bleeding edge market analysis, trends, insights and more on our News Feed.

Talk to Us About Your Financial Lines Coverage

To speak to a specialist about reinsuring any aspect of your financial institution, visit our contact page.

Careers

Working at Mekong Re is fast and dynamic. It’s diverse and inclusive, and provides a world of possibility for advancement and innovation — all while helping people to look after the things they care about the most.