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  • 17 December 2015

    Financial Institutions Risk Bulletin - December 2015

    Welcome to the final instalment of the Arthur J. Gallagher Financial Institutions Risk Bulletin for 2015.

    As preparations for the new year are under way for most businesses, here we have reviewed the need for coverage against internal investigations following increasing levels of regulator involvement, and our predictions for more advanced D&O policies in 2016.

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    Financial Institutions December Risk Bulletin
  • 12 October 2015

    Financial Institutions Risk Bulletin - October 2015

    Welcome to the October 2015 edition of the Arthur J. Gallagher Financial Institutions Risk Bulletin.

    In this edition we discuss aggregation provisions in insurance policies following a recent High Court decision as well as new products on the horizon from Arthur J. Gallagher.

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    Financial Institutions Risk Bulletin
  • 9 September 2015

    Financial Institutions Risk Bulletin - September 2015

    Welcome to the September 2015 edition of the Arthur J. Gallagher Financial Institutions Risk Bulletin.

    Hackers at the gate: protection against computer crime

    The risk to financial institutions posed by computer crime has increased exponentially in the last decade and there have been numerous instances of high value computer crimes of staggering ingenuity and scale. 

    In this edition we discuss cyber fraud and the implications to computer crime insurance coverage. 

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    Cyber fraud skull image
  • 2 September 2015

    Bank of New York Mellon computer glitch – cyber or professional indemnity insurance?

    A recent article in the Financial Times (26th August - Funds scramble to assess computer glitch) has documented the problems experienced by one of the largest custodian banks as the result of a computer glitch. 

    In short, it appears that the computer systems used by the bank to calculate the Net Asset Values (NAVs) of its fund clients has suffered problems following a failed software upgrade by one of its suppliers. This may have led to investors buying or selling funds at inaccurate prices and the funds in question being unable to disseminate accurate price information.

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    cyber insurance
  • 29 July 2015

    Financial Institutions Risk Bulletin - July 2015

    In the July edition of our Arthur J. Gallagher Financial Institutions Risk Bulletin we update you on the implications of insurance market consolidation, include an important note on the changes to UK Insurance Premium Tax, highlight a recent decision by the UK Supreme Court regarding contractual interpretation, and examine proposed legislation to address the UK gender pay gap. Finally we introduce another member of our team, Piers Stannus.

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