Insurance transcends all business activities in commerce and industry. It is quite obvious therefore, that from time to time special situations could arise that call for unusual types of cover.

The insurance industry has already developed special schemes catering for a particular segment of the business community, such as:

• Errors and Omissions Insurance for the professionals i.e.
  • This type of coverage safeguards against a Customer’s claiming that your company did something incorrectly on their behalf which lead to a financial loss or harm in some manner. This type of insurance is necessary for anyone who gives advice, makes recommendation or design solutions for a client. Professionals who usually purchase E & O are Architects, Surveyors, Consulting Engineers, Lawyers, Doctors, Web/Program Designers, consultants, Ad Copywriters , Telecommunication Carriers, etc
• Directors & Officers
  • The duties of a Director are wide ranging and sometimes complex. This policy provides financial protection to directors and officer if they are sued or held liable in conjunction with the performance of their duties as they relate to the company.
    • Why D&O? First, you need Directors & Officers Insurance because claims from stockholders, employees, and clients will be made against the company, AND against the directors of the company . Secondly Investors and members of your board of directors will not be willing to risk their personal assets to serve as a corporate director or officer, if not protected.

• Bankers Blanket Bond and Electronic and Computer Crime insurance
  • These are products specifically designed to protect the insured from any acts of fraud or criminal action which would cause a direct financial loss and mitigate the damage for some of the activities may have on the asset base of these institutions. If not securely protected institutions could suffer loss of reputation, cash flow problems, regulation intervention and loss of market share.
• Crop Insurance
• Professional Indemnity

This type of liability is also known as professional Indemnity , Errors and Omissions or malpractice insurance and issued to wide rage of professionals.

All people are human, and the main purpose of this policy is to protect a professional man against his legal liability towards third parties for injury, loss . or damage, arising from his own professional negligence or that of his employees

• Computer Crime

  • For Financial Institutions protecting data is a high priority. But as PC, LAN (local Area networks) and wireless internet became more popular the task of protecting this information became increasingly more difficult. The ever-changing technology community has forced business to look for other ways of protecting there investment.

    One secure way is through a Computer Crime policy. These policies provides coverage for losses resulting directly from a fraudulent entry or change of electronic data or computer program within your institution's systems.

• Contract Bonds - i.e. Performance Bonds, Construction Bond, Bid Bonds, etc.
• Financial Guarantees
  • Covers losses from specific financial transactions and guarantees that investors in debt instruments, such as municipal bonds, receive timely payment of principal and interest if there is a default. Raises the credit rating of debt to which the guarantee is attached. Investment bankers who sell asset-backed securities, securities backed by loan portfolios, use this insurance to enhance marketability
• Fidelity Guarantee Insurance
  • Most business have a checks and balance and supervision Fidelity guarantee allows the insured protection of financial loss through embezzlement from its employees. This could come in the form of money or stock. FFK offers Fidelity Solutions to enable the insured to close the gap and have a sense of financial security
• Expropriation or Political Risks
  • As the local becomes the global, many business are expanding their boundaries to become more profitable. Going into another territory can be tricky but being covered properly for any misfortune the company can operate with piece of mind and focus on its real goals
    • Political Risk insurance can be obtained any business of any size having operations in any countries which there is a risk of any of the following:
      • Political violence, such as revolution, insurrection, civil unrest, terrorism or war;
      • Governmental expropriation or confiscation of assets;
      • Governmental frustration or repudiation of contracts;
      • Wrongful calling of letters of credit or similar on-demand guarantees; and
      • Inconvertibility of foreign currency or the inability to repatriate funds.

All of which are available through FFK. In view of the constant changes taking place, it is the responsibility of the broker to be alert to his client’s needs in this regard.

FFK on occasion has designed special covers to suit a particular situation falling outside the scope of those available.