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Tag: Bankers Liability Policy

The Benefits of BPL Insurance

The Benefits of BPL Insurance

As insurance goes, errors and omissions coverage for financial institutions are fairly modern. Most people are familiar with malpractice insurance for doctors and lawyers. This concept of professional liability insurance has spread to include other professionals like financial institution workers and the institutions themselves. A bankers liability policy protects your financial institution in the event that a customer or patron holds you responsible for not delivering the expected or promised results. They are suing you for the services you provided…

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Banks Have Wide Range of Liability Issues to Address

Banks Have Wide Range of Liability Issues to Address

Banks purchase liability insurance to cover escrow agents, tax planners, financial planners, estate planners and more. A Bankers Liability Policy can cover directors, officers, as well as full-time, part-time and seasonal workers in these lending institutions.   Because a bank could be sued for a breach of duty, misleading statement, incorrect statement or other mistake related to its deposit, brokerage, insurance, real estate, credit card or other services it needs to be fully protected.   If, for example, a customer decides to sue a…

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