Corporate Kidnap, Ransom & Extortion
Don’t let the name fool you. While kidnapping and ransom have always been and continue to be vital threats to your bank and employees, these are no longer the main focus of this important addition to your professional liability program. The likelihood of an attack on your systems grows each day. Economic troubles, combined with the growing accessibility to computers and networks, make the Extortion portion of this program a “must”.
Picture a member of your organization receiving a call threatening to kill a family member unless a demand is met. Envision a call to the bank promising the release of private customer information unless there is compliance with a request. These are real dangers facing companies today and you should not be lulled into thinking this will not happen to your bank. In the event that something happens, wondering whether this will cause a significant loss to the bank’s financial health should not be the main concern!
Traditional policies will not necessarily cover losses related to Kidnap, Ransom and Extortion threats. FNBB Insurance Agency can ensure that your bank has a well-structured answer to these risks. We provide banks with Kidnap, Ransom and Extortion insurance to cover named employees for ransom payments, loss of bank income, and theft of data, to name a few.
Our policy includes: |
- Extortion
- Wrongful Detention
- Hijacking
- Ransom Monies
- In-Transit/Delivery
- Consulting Costs
- Judgments, Settlements, and Legal Costs
- Death and Dismemberment
- Salary Expenses
- Personal Financial Loss
- Medical Costs
- Rest and Rehabilitation
- Travel and Accommodations
- Loan Interest
- Interpreters
- Forensic Analysis
- Security
- Business Interruption
- Job Retraining
- Rewards
- Other Reasonable and Necessary Expenses
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Financial Institution Bond
Financial Bond coverage is the most important insurance policy you carry. In fact, this is the one policy regulators ask to see when they visit your bank. FNBB Insurance Agency, LLC can help you make sure you have the best program available.
We realize banks have many insurance policies they must carry and the associated expenses can sometimes lead to placing more significance on premium rather than coverage. Unfortunately, when this happens the majority of banks do not purchase the proper insurance protection, thus opening them up for higher probability of loss. Our agency will work with you to ensure that your policy has proper coverage, identifying gaps and exclusions that restrict your protection; all at a rate you can afford. Trust our experience to guide you through this extremely important part of your management program!
Criminal Liabilities covered include: |
- Employee Dishonesty
- Trading Loss
- Electronic Data Processing
- On Premises Exposures
- In Transit Exposures
- Forgery & Alteration/Counterfeit
- Securities
- Counterfeit Currency
- Combination Safe Deposit Liability
- Computer Systems Fraud
- Data Processing Service Operations
- Voice and Fax Initiated Fraud
- Hacker and Virus Data Destruction
- Telephone Toll Call Fraud
- Home Banking Exposures
- Unauthorized Signature
- Fraudulently Obtained Real Property Mortgages
- Transit Cash Letter Reconstruction
- Stop Payment Legal Liability
- Claims Expenses
- Check Kiting
- Mortgage Servicing
- Attended and Unattended ATMs
- Debit Card Coverages
- Limit and aggregate peer reviews
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Protect your greatest assets
Security risks should not be taken lightly. Each day, banks are exposed to the threat of attacks on their employees. In today’s global technology environment, banks also need to prepare for the possibility of attacks on their customer data systems.
At FNBB Insurance Agency, no coverage aspect is taken lightly. We will work with you to ensure the right coverage for your bank. |
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Fraud and Embezzlement are on the rise
Banks are vulnerable to robbery or theft from many different directions. Customer and employee fraud can go on for years before being detected and the impact can be enormous.
Combine this with the vast array of exposures that regularly arise (i.e. privacy, internet, remote capture), and it’s imperative that you lean on someone who has experience protecting you and your institution.
FNBB Insurance Agency provides an array of options necessary to give you complete coverage at a competitive rate. |
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| Insurance products are not insured by any Federal government agency. Not a deposit. Not FDIC insured and not guaranteed by this bank. |
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