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Financial Institutions Professional Liability

Our Financial Institutions Professional Liability insurance protects your institution, its directors and its employees against alleged wrongful acts in the performance of, or failure to perform, professional services to your customers around the world.

Your benefits

We will support you with:

  • enhanced risk coverage
  • simplified and clearer globally consistent policy language adapted to reflect local single law requirements and legal exposures
  • improved contract certainty and coverage applicability
  • dedicated professional teams in underwriting, claims handling, captive and capital optimization, risk management and compliance
  • a global network that provides specific global services and solutions for financial institutions.

We constantly review our products to address liability coverage in light of developing regulation, litigation and emerging risks.

We offer cover for of banks and lending institutions, asset managers, investment advisers, investment managers, fund managers, mutual, hedge, real estate and private equity funds, venture capital firms, building societies, insurance and re-insurance companies, investment management companies, corporate financial services providers and other types of financial services provider.

  • Protection in a challenging environment

    Our Financial Institutions Professional Liability insurance can protect you against the unprecedented liability risks you face in an ever-evolving and regulatory environment. Here are some of the challenges and trends that are increasing your potential liabilities.

    • There are an increasing number of investigations by supervisory, regulatory and enforcement authorities into possible regulatory violations.
    • There is growing scrutiny on financial institutions' activities and business practices, leading to a significant increase in regulator fines and penalties, litigation and requested damages.
    • There has been an unprecedented increase in the litigation trends and demands for damages from institutional and private investors and customers.
    • We have seen a rising number of suits filed against companies globally, mainly alleging the breach of fiduciary duties, improper disclosures of risks related to investment products and misleading statements.
    • Upcoming regulations and reform are affecting the financial sectors with the aim to impose stronger controls, transparency and disclosures, enhanced governance and compliance standards.
    • Increasing disclosures are required in relation to business practices, products and services provided.
    • There are ever-increasing legal and regulatory requirements that numerous global financial institutions need to face while navigating the challenges posed by operating in divergent business cultures and managing complex IT systems.
    • We are seeing broadening vicarious liability and custodian liability imposed on financial institutions.
  • What we cover

    Our insurance protects the parent company and all its subsidiaries and investment entities or funds, including those created or acquired during the policy period, as well as third parties involved in providing the insured financial services for which the institution is vicariously liable.

    Civil liability coverage extends in varying degrees to:

    • agreed out-of-court settlements
    • defense costs
    • professional investigations and representation costs
    • mitigation and correction costs defamation
    • additional protection for individuals and for their estates, heirs and legal representatives.

    Our Civil Professional Liability insurance is tailored to suit different financial institutions’ profiles and is often combined and blended in a single insurance product with other financial lines covers like Directors and Officers Liability, Employment Practices Liability, Pension Trust or Fiduciary Liability, Internal and External Crime insurance.

Contact us


The product descriptions are never part of individual insurance offers or contracts but are general descriptions of insurance services and do not form part of any customers individual insurance cover.

Products and services vary by country
Because the needs of our customers are different, our products and services also vary around the world. Insurance and financial products and services are provided by licensed members of the Zurich Insurance Group (Zurich). Not all products or services listed are available in all jurisdictions or to all customers. Please contact your local Zurich office for details about the relevant products and services in your country. No warranties or guarantees are being made by Zurich based on statements on this website.

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