Financial Institution Bonds

Chubb’s Asset Manager Bond can cover a wide range of perils caused by both employees and third parties, and provides a unique, cost-effective insurance solution to give asset managers peace of mind. The bond addresses risk such as theft of customers’ capital by dishonest employees, and loss caused by dishonest partners and outside private fund administrators.

Target Classes:

• Registered Investment Advisers, including:
  • Dual-Registered Advisers
  • Advisers to Mutual Funds
• Private Equity Firms
• Venture Capital Firms
• Hedge Funds
• Real Estate Funds
• Family Offices

Chubb’s Broker-Dealer Bond provides fidelity bond coverage to entities registered as broker-dealers in accordance with the fidelity bonding requirements set forth under FINRA Rule 4360 of the Financial Industry Regulatory Authority.

Highlights:

• No aggregate limit of liability applicable to mandated coverage
• Ability to include optional coverages for a complete risk management program, including:
  • Computer System Fraud
  • Fraudulent Funds Transfer
  • Social Engineering Fraud

Chubb’s Bank Bond provides an updated and modernized banker’s blanket bond that keeps the 21st century financial fidelity risk concerns of banks and non-depository financial institutions at its forefront.

Target Classes:

• Commercial Banks
• Trust Companies
• Finance Companies

Chubb’s Insurance Company Bond provides insurance companies with a straightforward financial fidelity insurance solution for their complex financial and regulatory risks.

Target Classes:

• Property & Casualty insurers
• Life, Health, and Annuities insurers
• Reinsurers of all types

Chubb’s ICAP Bond serves registered investment companies by providing coverage for loss resulting from larceny or embezzlement by employees as required by the Rules and Regulations of the Investment Company Act of 1940 (Rule 17g-1).

Highlights:

Coverage limits increased to the minimum required pursuant to Rule 17g-1, with no reporting requirement, due to the creation of a new investment company or an increase in the gross assets of the investment companies covered under the bond during the policy period

HTML conversion of the bond contract at no additional cost to facilitate electronic submission to the Securities Exchange Commission

Chubb’s ERISA Bond provides coverage to insured ERISA Plans for loss resulting from fraud or dishonesty committed by a covered employee of the fiduciary, as set forth in the bonding requirements of the Employee Retirement Income Security Act of 1974 (ERISA).

Highlights:

• Omnibus coverage for any pension or welfare plan sponsored by an employer that is subject to ERISA for which the policyholder acts as fiduciary
• Limits, as required by statute, are provided per plan, with additional coverage available for additional plans the fiduciary becomes responsible for during the bond period