COMPREHENSIVE INSURANCE FOR FINANCIAL INSTITUTIONS (BBB)
In 2006, INGO ARMENIA launched a relatively new program for the Armenian insurance market: Comprehensive Insurance of Financial Institutions, called Bankers Blanket Bond – (BBB).
During the insurance program development, the specialists of the company tended to maximally adapt it for the national market and the current legislation of the Republic of Armenia.
“BBB” program is designed for the following financial institutions:
- non-bank credit organizations,
- professional participants of the equity market
WHAT CAN BE INSURED?
Insured’s property interests related to the use, management, operation of the property specified in the insurance contract, as well as unforeseen losses (expenses) incurred during the insured’s banking or other financial activities specified in the insurance contract.
WHAT RISKS CAN BE INSURED?
Insurance coverage includes the following risks:
- damage of premises and/or loss or damage of property belonging to the Insured inside such premises;
- faking (forgery) of documents;
- operations with fake, lost and stolen securities;
- operations with fake banknotes (coins);
- disloyalty of the employees;
- destruction (loss) or damage to valuable property of the Insured during transportation;
- destruction (loss) and damage of financial documents during their transportation by a courier (collector) company;
- destruction, damage or theft (through burglary or robbery) of valuable property that belongs to the Insured and which is kept in special designed premises of the Insured;
- theft (through robbery or burglary) of valuable property which belongs to the clients of the Insured and which is kept in a especially designed premise of the Insured (which is protected from unauthorized access).
HOW MUCH DOES THE INSURANCE POLICY COST?
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