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Bankers Blanket Bond Insurance - All Risks Excess

Specialty
AXA XL Insurance offers insurance tailored specifically to clients with special coverage needs for securities and other valuables.

Product details

Capacity

We offer large capacity as a sole insurer, leading insurer or coinsurance partner.

Coverage

  • All risks excess of bankers blanket bonds with LIB: covers physical loss or damage to money, securities, precious metals or other property. For loss of securities, the policy contains a lost instrument bond (LIB) issuance feature stating that we can issue the necessary LIBs for losses within our limit of liability. The policy also contains an LIB Premium feature which provides an additional limit of liability which the insured can use to purchase LIBs for losses that exceed our limit of liability.
  • Blanket lost official check: offered to banks for their clients who have lost cashier’s checks, official bank checks or money orders. Automatic coverage for checks in an amount up to the automatic assumption limit for any one item.
  • Blanket lost securities: provides replacement coverage for lost, stolen, destroyed or misplaced securities.

Client Profiles

Banks and financial institutions

Typical Information Required

  • Completed application
  • Loss history
  • Values exposed
  • Annual CPA audits (ERISA and SIPC)

The information contained herein is intended for informational purposes only. It’s is neither an offer to sell nor a solicitation to purchase any particular insurance product. Insurance coverage in any particular case will depend upon the type of policy in effect, the terms, conditions and exclusions in any such policy, and the facts of each unique situation. No representation is made that any specific insurance coverage would apply in the circumstances outlined herein. Please refer to the individual policy forms for specific coverage details. AXA XL is a division of AXA Group providing products and services through four business groups: AXA XL Insurance, AXA XL Reinsurance, AXA XL Art & Lifestyle and AXA XL Risk Consulting. In the US, the AXA XL insurance companies are: AXA Insurance Company, Catlin Insurance Company, Inc., Greenwich Insurance Company, Indian Harbor Insurance Company, XL Insurance America, Inc., XL Specialty Insurance Company and T.H.E. Insurance Company. In Canada, coverages are underwritten by XL Specialty Insurance Company - Canadian Branch and AXA Insurance Company - Canadian branch. Coverages may also be underwritten by Lloyd’s Syndicate #2003. Coverages underwritten by Lloyd’s Syndicate #2003 are placed on behalf of the member of Syndicate #2003 by Catlin Canada Inc. Lloyd’s ratings are independent of AXA Group. Not all of the insurers do business in all jurisdictions nor is coverage available in all jurisdictions.

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