Financial services

A schedule in this class that does not show one of these raises the finding "usually held in financial services, not on this schedule". Absence is a question, not a fault: the cover may sit inside another policy or have been declined on purpose.

• Professional indemnity
  Your legal liability for financial loss suffered by a client because of an error, omission or negligent act in the professional service or advice you provided.
• Directors and officers
  Defence costs and damages when directors, officers and (under management liability) the company itself are pursued for a wrongful act in managing the business: regulators, shareholders, creditors, employees.
• Crime and fidelity
  Direct financial loss from dishonesty by employees, and on the wider forms from third-party fraud: forged cheques, funds transfer fraud, computer fraud and social engineering.
• Cyber
  Your own costs after a security incident (forensics, notification, restoration, business interruption from a network outage, extortion) and your liability to others for the data and systems you failed to protect.
• Employment practices liability
  Defence costs and damages for claims by employees and applicants: unfair or wrongful dismissal, discrimination, harassment, bullying, breach of employment contract.
• Workers compensation (statutory)
  Medical costs, weekly payments and lump sums for employees injured at work or made ill by it, under the scheme of the state or country where they are employed.
• Property
  Physical loss of or damage to your buildings, plant, stock and contents from fire, storm, water, impact, theft and the other insured perils, up to the sum insured.

Raises the finding "often needed in financial services and often lacking, not on this schedule". Worth a written answer either way, so a retained exposure is a recorded decision.

• Fiduciary and trustee liability
  Liability of the people who administer an employee benefit, pension or superannuation plan for a breach of their duties to its members.
• Business interruption
  The gross profit or revenue you lose, and the extra cost of keeping the business going, while property damage stops or slows you, for the indemnity period the policy states.
• Statutory liability (fines and penalties)
  Defence costs and, where the law allows them to be insured, fines and penalties for unintentional breaches of statute: workplace safety, environmental, consumer and corporations law.
• Key person
  A lump sum to the business on the death or total disability of a named person whose loss would cut revenue or trigger debt covenants.
• Corporate travel
  Medical expenses, evacuation, cancellation, lost baggage and personal accident for staff travelling on business, and often for accompanying family and leisure travel.
• Prospectus and public offering liability
  Liability of the company, its directors and selling shareholders for the prospectus or offering document in a capital raising, ring-fenced from the D&O policy for the life of the claims period.

Yes. Businesses in this class usually hold cyber cover and their customers, regulators and lenders usually ask for the certificate, so the register raises a separate finding with the underwriting baseline behind it.

Check your schedule against this class

Paste the schedule with a first line industry: financial services, or pick the class from the list, and the register names the lines from these two tables that the schedule does not show, beside the arithmetic on every line it does. Six lines free, no account.