Insuring a large financial institution it is necessary to balance policy parameters such as the sum insured and deductibles, which should be understood as the level of damage which a Client retains at their own risk. Correct setting of these two elements of a contract translates into lowering the cost of insurance coverage, while maintaining a high level of protection. A company’s management, financial situation, existing control systems, and a loss ratio of the industry are also important when negotiating premiums.
In addition to protecting interests of a financial institution, it is important to adequately protect managers against consequences of an actual or alleged misconduct or omission. EIB provides management staff with special solutions in this field which also take into account tax considerations.