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Professional Liability coverage to protect banking and non-bank lending institutions against claims of actual or alleged negligent acts, errors or omissions in the rendering of or failure to render professional services to third parties.

Features & Benefits

  • Flexibility – Can purchase coverage for a wide array of professional services, including but not limited to loan servicing, trust department administration, investment advisory services and the administration and sale of credit cards
  • Foreign Jurisdictions - Ensures that the most favourable terms and conditions from local AIG policies are applied to claims in foreign jurisdictions
  • Specialized Claims Support – Dedicated in-house claims unit

Coverage

  • Professional Services Covered
    • Offered on scheduled or broad form basis
    • With or without a fee
  • Defence Costs - Payment of defence costs, settlements and judgments
  • Punitive Damages - Covered