Bankers’ Blanket Bond

What is Bankers’ Blanket Bond Insurance?

Every financial institution is exposed to the risk of criminal activity, both from within its own organization and from outside. Losses can have a devastating impact on a financial institution’s balance sheet.

At Goldstar Insurance Company we specialize in offering financial institutions high levels of insurance protection against the effects of potentially catastrophic criminal loss; specifically for the risks of Employee Dishonesty, Forgery, Cyber Liability and Computer Crime.

What’s covered

The Bankers Blanket Bond product consists of a number of sections known as Insuring Clauses. Each clause offers protection to a financial institution against a clearly defined risk of financial loss.

A financial institution may have a Bond in which all Insuring Clauses are included or may select only those that are relevant to its business.

Goldstar Insurance Company has extensive experience in tailoring such coverage to meet the exact needs of clients.

Insuring clauses are as follows:

  • Dishonesty of employees– financial loss due to dishonest or fraudulent acts of employees.
  • Counterfeit currency– losses sustained from the acceptance in good faith of counterfeit notes or coins at the Insured’s premises.
  • Premises risk– loss of property resulting from theft, unexplained disappearance, damage, destruction or misplacement.
  • Transit – loss or damage to property whilst in transit anywhere in the world in the custody of employees and including transits carried out by courier service or by registered post.
  • Forged cheques– loss sustained due to the forgery or fraudulent alteration of cheques, bills of exchange, drafts, acceptances, withdrawal orders, certificates of deposit, letters of credit and money order
  • Forged securities– loss sustained by an organisation due to its having acted upon other types of securities or documents, which are not otherwise insured, under the forged cheques section.
  • Damage to offices and content– loss or damage to furniture, fittings and equipment arising from burglary, theft, hold-up and other criminal acts.

What’s not covered

  • Money Laundering Exclusion
  • War & Terrorism Exclusion
  • Commissions & Bribes Exclusion
  • Fines & Penalties Exclusion
  • Pending & Prior Litigation is Excluded

What’s optional

  • Political Violence and Terrorism: Cover against political violence and terrorism

Goldstar claim process

No matter what your worry is, we’re here to help
explain the process, assess your claim fairly
and minimize the disruption to you with a transparent claims process.
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How to make a claim

We have a number of options to help you make a 
claim quickly and effectively. Contact our dedicated claims team for advice on
an incident/claim.
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Why choose us ?

Goldstar Insurance was IFM’s Best Insurance
Company in Uganda (2015) and has over
 the years consistently maintained a Global A+ Credit Rating
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2016 Global Business Outlook Award

Best insurance company in Uganda

2015 International Finance Magazine Award

Best insurance company in Uganda

A+ Global Credit Rating Co

Your expert local insurance partner

Easy Claim

Easy claim procedures with no hassle

Save Your Money

Host of discounts – No claim bonus, Discount for Automobile

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FAQ's

How do I cover items that I take away from the home?
What is accidental damage cover?
Are items in my garage or shed covered?
I live in rental accommodation. Do I still need insurance?
What is an excess?

Tips

  • Ensure you declare a list of items to be insured under contents insurance including serial numbers, model, make and have the correct sum insured
  • Always keep valuables safely and locked out of site to protect against the risk of theft
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