As a result of Basel II, IFRS, Solvency II, MiFID, WFT and Corporate Governance, risk management has become indispensible in the management of financial institutions. Tightening of the legislation and the oversight on management has forced organizations to become aware of the risks.
The experts of Financial Institutions Benelux will map the risks of your financial institution with you and will then look for the correct solutions. We offer customized risk management and financing solutions in independent and creative ways. Aon keeps the risks manageable, so you can focus on managing your company.
Financial Institutions Benelux is the first contact point for banks, insurers, trust offices, asset managers, (industry branches of) pension funds, private equity companies, financial stock markets and investment institutions.
The operational risks of banks are large. During day-to-day activities something can go wrong on different levels, because of a bad faith customer, an employee committing fraud, employees being negligent or inadvertently giving wrong advice. The Banking Insurance covers you against these risks.
As a financial institution you can be held liable if customers incur damages as a result of your advice with respect to a financial product, miscalculations, but also if the company has been negligent. The Professional Liability Insurance offers you financial security to guarantee the continuity of your enterprise.
As a manager of a financial institution you are exposed to considerable risks. This exposure does not only extend to the company’s capital, but also to your personal assets. You can be held personally liable for improper management, even if mistakes were not made by you personally, but by your co-managers. The D&O Insurance will assist you if this were to happen.
Employee claims based on sexual harassment, age discrimination or the termination of an employment contract are on the rise. The damage amounts can be so high that they may jeopardize the continuity of your organization. The Employment Practices Liability Insurance covers the claims as well as the defense costs in these delicate issues.
The financial world revolves around trust. This trust can be betrayed by dishonest employees or customers. Irrespective if they are managers, accountants or advisors, all are capable of committing fraud. Fraud not only damages the trust relationship, in the worst case, it jeopardizes the continuation of your enterprise. Fraud Insurance covers the financial damages resulting from fraud committed by employees or third parties to ensure the continuity of your enterprise.
A number of liability risks arise with the IPO of a financial institution, a part of a financial institution, but also with the additional issuance of shares or the public offering of a fund. There can be a mistake in the prospectus, you may give a warranty you are required to honor, or there has been mismanagement. In the worst case, the resulting claims can jeopardize the continuation of your enterprise. You can insure yourself against these risks with the Initial Public Offering (IPO) Insurance.