Bankers Blanket Bonds - All Risks Excess
Specialty
XL Catlin 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)

This general product description is informational only. It is neither an offer to sell nor a solicitation to purchase any particular insurance product. Products are subject to legal and underwriting requirements. Coverages may not be available in all jurisdictions, including without limitation any jurisdiction within the United States, and may be available only through appropriately licensed producers. In addition, GAPS’s provision of publications or services is not an indication of the existence or availability under any policy of coverage for any particular property or type of loss or damage. Policies underwritten from Bermuda, Brazil, Canada, China, Mexico, Switzerland, or written by XL Insurance Company SE are only available through non US-based brokers. The Insurance companies of XL Group Ltd are: Catlin Insurance Company, Inc., Catlin Indemnity Company, Catlin Specialty Insurance Company, Greenwich Insurance Company, Indian Harbor Insurance Company, XL Insurance America, Inc., XL Specialty Insurance Company, XL Bermuda Ltd, XL Insurance Company SE, XL Insurance Switzerland Ltd, XL Insurance (China) Company Limited, XL Seguros Brasil S.A. and XL Insurance Mexico SA de CV. Coverages placed with Lloyd’s Syndicate #2003 are managed by Catlin Underwriting Agencies Limited and supported by XL Catlin corporate capital. Additional important information regarding our business is provided on our Legal Notices page.

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