Whether you're a neo bank or a global financial institution, banking is the backbone of the economy. Your crucial role in finance exposes you to a growing spectrum of risks. From credit and liquidity risks to market volatility, operational challenges, compliance issues, fraud, and cyber threats, the risks are vast. Without the right partner to deliver the necessary risk solutions, your ability to improve resilience, maintain customer trust, and seize opportunities with confidence could all be hindered. That’s where Lockton comes in.
Improve your resilience and maintain your customer trust
Whether you're a neo bank or a global financial institution, banking is the backbone of the economy. Your crucial role in finance exposes you to a growing spectrum of risks. From credit and liquidity risks to market volatility, operational challenges, compliance issues, fraud, and cyber threats, the risks are vast. Without the right partner to deliver the necessary risk solutions, your ability to improve resilience, maintain customer trust, and seize opportunities with confidence could all be hindered. That’s where Lockton comes in.
Your dedicated banking risk partner
With Lockton as your trusted adviser, no risk is too small or large. Our dedicated team has a proven track record in helping banks like yours remain resilient to local and global risks. We have deep expertise across the banking ecosystem, including:
Commercial and Retail
Building Societies
Mortgage brokers/bankers
Credit card issuers
Nonbank lenders
Investment banks
Neobanks
Merchant banks
Development banks
Mortgage/loan services
How we protect your bank
Learn how we help protect banks like yours through risk solutions like Directors & Officers Liability, Crime, and Cyber Insurance.
Download our flyerInsurance for banks – FAQs
Do I need specialised insurance products as a bank?
Specialised insurance for banks is key due to the unique and complex risk banking landscape. Whether you are a retail bank, community bank, investment bank or a global institution – you need tailored and specialised risk and insurance solutions. The need for specialised insurance may also be dependent on specific regulation, your customers, and/or your board members. Insurance programmes for banks will often combine several lines of coverage.
What are the key risks facing banks?
Although the likelihood and impact of individual risks can vary from bank to bank, there are significant risk categories that broadly apply to most banks:
Cybersecurity threats
Regulatory compliance
IT/Technology transformation including AI
Data privacy and protection
Economic volatility/ financial resiliency
Operational Risk
Geopolitical risks
Business interruption
Human capital
Vendor Management
Why is Directors’ and Officers’ Liability (D&O) Insurance important for banks?
D&O Insurance is designed to protect individuals from personal financial losses due to legal actions related to their roles as directors or officers, while also safeguarding the company's balance sheet. For banks, this type of policy can cover critical areas of concern for board members. In the financial sector, where fiduciary duties are paramount, executives might face lawsuits from shareholders, regulators, or other stakeholders. D&O Insurance helps attract and retain top talent by providing a layer of protection, encouraging qualified individuals to assume leadership positions without the fear of personal liability. Additionally, it supports the stability and continuity of banks by offering a financial safety net for key decision-makers.