Stock Broker Indemnity
Stock brokers face various losses associated with legal liabilities arising from transactions entered into pursuant to the rules of the NSE and BSE in which they are trading. Moreover, chances of a loss increases as the number of sub brokers, intermediaries and number of terminals operational increase. Thus, a professional indemnity cover is required to protect stock brokers against the losses specific to the stock broking industry. A standard Stockbrokers Indemnity policy is designed to cover stockbrokers against losses incurred in their ordinary business activities.
We provide solutions which covers
Claims arising out of:
- Infidelity of employees (dishonest/fraudulent act).
- Loss Of securities / cash / property.
- Incomplete transactions.
- Forgery.
- Computer crime indemnity computer systems, electronic computer instructions, electronic data and media communications, insured service bureau operations transmissions and e securities, computer virus, verification reconstruction expenses.
- Legal fees/ cost of defense.
- Errors and Omissions (third party/clients) with excess.
- Proprietary trades (covering E and O for rate only) with excess and limits.
- Demat Securities trading and settlement etc