Banks, asset managers, insurers, and other regulated financial businesses carry a liability profile distinct enough that mainstream commercial policies aren't built to price it properly.
Financial Institutions (FI) insurance is a specialist product line combining several covers tailored to the regulatory and financial exposure unique to this sector, professional indemnity for financial advice, D&O for the leadership team, and crime cover for internal fraud or theft, often bundled into a single programme.
Why standard cover falls short: A financial institution's exposure isn't just "bad advice", it includes regulatory investigation by the FCA or PRA, market conduct allegations, and the sheer scale of potential claims given the size of assets typically under management. Standard commercial PI and D&O policies are rarely built with these specific exposures priced in.
Banks, building societies, asset and fund managers, insurers and reinsurers themselves, payment institutions, and increasingly fintech businesses once they're regulated. If your business is FCA or PRA authorised, mainstream commercial cover is unlikely to be sufficient on its own.
Free, no obligation. We connect you with specialist brokers and Lloyd's market access for this line of cover.
Speak to a Specialist →Financial Institutions cover is highly bespoke to regulatory status and business activity. Always confirm current requirements with a specialist broker.