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Chartis expands passport service platform

Chartis, a property-casualty and general insurance firm, has expanded its passport service platform to include three additional products from its Executive Liability Division that are specifically designed for financial institutions: investment management insurance, private equity professional edge and bankers professional liability insurance.

Passport allows multinational companies to address international exposures through the issuance of locally-compliant policies in foreign jurisdictions through Chartis insurers’ offices globally.

Chartis said that these additional products enhance the existing Passport service available for financial institutions seeking local policies for their foreign directors and officers, employment, fiduciary and fidelity exposures around the globe.

Policies are issued in the foreign jurisdictions where the insured operates through Chartis’ extensive global network.

Along with indigenous coverage, policyholders will be provided with secure access to Chartis’ locally based claims and litigation management resources around the world.

Chartis Executive Liability Financial Institutions Division president Brian Benjamin said that by offering locally-admitted management and professional liability policies, the Chartis insurers are providing a simplified way for financial industry professionals to secure high quality coverage to address global risks.