Bankers Blanket Bond (BBB) or Blanket Fidelity Bond is an insurance policy that insures financial institutions against risks related to fraud and dishonesty.  DIOT-SIACI Middle East’s expert panel of financial risk managers provide you with a consultative approach based on risk management, benchmarking data on claims and coverage trends enabling you to make an informed decision.

 

Bankers Blanket Bond can be customized to suit the needs & exposures of each client and provides protection against various exposures highlighted below.

The policy covers cheque fraud, employee dishonesty, bank robbery, hold up, commercial crime etc. Various Sections under BBB include:

 

1. Employee Fraud or Dishonesty

Financial loss arising from dishonest acts of your company’s employees

 

2. Cyber and Computer Crime

Covers fraud from dishonest acts carried out using computers by employees, outsiders, or both in collusion.

 

3. Hold-ups and Robbery

Covers bank robbery, including robbery by employees and other third parties

 

4. Premises cover

Loss of property or funds resulting from theft, unexplained disappearance, damage, destruction, or misplacement.

 

5. Damages to offices and content

Damage to furniture, fittings and equipment during a burglary, theft, hold-up etc.

 

6. Transit cover

Transit coverage for loss or damage to property, including transits by employees, courier services and registered post.

 

7. Forged Cheques

Covers losses from forgery or fraudulent alteration of cheques, bills of exchange, drafts, acceptances, withdrawal orders, certificates of deposit, letters of credit and money orders etc.

 

8. Forged securities

Any securities not covered above – and not insured under other policies – can be covered under BBB.

 

9. Counterfeit currency

Financial losses resulting from forged notes or coins accepted in good faith.

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