The main purpose of the BBB policy is to provide blanket protection to a financial institution against losses resulting from its employees’ dishonest or fraudulent acts (performed individually or in collusion with other persons) and from third parties’ acts committed with the intent to obtain a financial gain or cause damage.
The object of insurance are property interests that do not contravene the laws of Kyrgyz Republic and are exposed to risks involving loss of profit (incidental expenses), which a financial institution may encounter due to dishonesty of its employees, forgery and other fraudulent alterations in documents further used in unlawful actions, or may be exposed to the risk of loss or damage of/to the property of the institution or third parties during their banking operations.
Insurance coverage insurance banking activities rather wide, so there is no way to calculate the insurance premium without complete information about the risk. At this point we can provide preliminary pricing, based on our experience, which shows that prices for this type of insurance vary substantially from 2% to 4% of the sum insured selected by the Insured, but with a minimum premium of 25 000 US dollars.
For more detailed information you can contact the specialists of Jubilee Kyrgyzstan +996 (312) 66 00 44.