Broker Dealer E&O/Indemnification
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Tip: If you are posting a market request, include the state abbreviation in your post title to get better responses.
Tip: If you are posting a market request, include the state abbreviation in your post title to get better responses.
Broker Dealer E&O/Indemnification
We're looking to place Broker Default Indemnification Insurance. This product used to be offered by AIG Financial Products. In short, the broker dealer lends the securities of a third party to various counterparties (i.e. Goldman, Deutsche Bank). The counterparties would post over 100% collateral which would be trued up each day based on the closing price of the equity from the prior day. We would be looking for something along the lines of a $20MM limit policy that would protect the company that lends the securities to the broker dealer. Does anyone have any ideas who can write this? Thanks.