Cost effective, Tailored, Consistent, High Quality Protection for Comprehensive Crime, Professional Liability, and Directors and Officers Liability

The attached document provides an analysis and evaluation of the proposed Comprehensive Crime and Liability collective insurance policy for members of the Caribbean Association of Banks.

Your Association’s interest in making available to its members a special insurance scheme offering high quality insurance protection at much reduced cost is a most significant and important development. We had to be cautious as to how far to press the point from the platform at the Conference but it would be true to say that the scope of protection hitherto provided to banks in the Caribbean region has failed utterly to keep pace with the many changes and improvements offered to other banks elsewhere in the world by the Financial Institutions insurance market over the last 25 years. This failure extends both to the limited, old fashioned, out of date policies which have been offered as well as to the very high levels of premium being charged for these manifestly substandard insurance products…

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