Insurance for Banker’s Errors & Omissions. Also known as Banker’s Professional Liability (BPL)
Banker’s professional liability insurance is a type of errors and omissions insurance to protect those in the banking industry from professional liability claims. It can be stand-alone or it can share limits with another coverage, such as Directors and Officers. Lender’s liability may be found within the BPL part of the policy or it may have its own separate limits.
Banker’s professional liability can be either “all risk” or “specified perils” coverage. Each policy needs to be evaluated for coverages as well as coverage gaps. Does your BPL policy cover fraud, dishonesty, and conflict of interest?
We have reviewed hundreds of banking policies and we can your review your policy as well.