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Tag: Professional Liability Insurance for Bankers

Common Liabilities Faced by Lending Institutions

Common Liabilities Faced by Lending Institutions

When you handle the financial interests of businesses and individuals, you not only have to deal with hundreds of regulations but also the expectations of the client. While having professional liability for bankers can certainly mitigate the risks, it’s more important to be proactive in managing your liabilities. Know these common reasons clients sue to find ways to avoid opening your institution to risk: Acts of bad faith – the client accuses the lender of being unreasonable in a decision…

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Choosing the Right Coverage for Your Banks

Choosing the Right Coverage for Your Banks

The banking industry is very complex and filled with exposures that can easily result in a claim being made against any one of the dozens of employees and managers operating a particular institution. A bank could be sued for anything from a breach of duty, giving misleading statements, making an incorrect statement, or other mistakes related to its deposit, brokerage, insurance, real estate, credit card or a number of other services.   For example, a customer might sue a bank claiming…

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