Module 14: Financial Institution Bonds (CE-Eligible)

This module is eligible for CE credit for those who have insurance licenses. If you don’t have a license or don’t need CE credit, please purchase the non-CE eligible module instead. Both CE- and non-CE eligible modules count equally towards PLUS designations and/or certificate programs.

If you select this CE-eligible module, you’ll be required to do all of the following to receive credit:

• Purchase both the CE-eligible module ($325) and the separate CE-eligible exam registration ($75)
• Complete the CE-eligible module online in our LMS
• Complete the cumulative CE-eligible exam in a proctored setting with Prometric within 365 days of purchase

Submit your CE Request Form within 5 days of completing the CE-eligible exam

Module 14: Financial Institution Bonds
This module gives learners a better understanding of Financial Institution (FI) Bonds, how they differ from PLI, and why they are so important to Financial Institutions. It identifies the historical development of FI Bonds, types of exposures Financial Institutions face today, and kinds of losses they experience. There is a discussion of insuring agreements, standard forms, conditions and limits, differences between Standard Form 24 and other standard forms and forms used to insure credit union risks. It explains various additional/optional coverages that may be purchased. The importance of the information found in the application and other supplemental information in analyzing exposures are identified, as are key factors used in determining premium. The module discusses risk management techniques, including components for physical and data security. It also addresses how underwriters should assess control systems and risk management. After reviewing the unique aspects of the FI Bonds claims management process and defense considerations, the module wraps up with a brief discussion of this product’s current issues and trends.

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