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Report

Financial institutions insurance claims report: 2024 year in review

Read analysis of 2024’s policy-defined claims, investigations, and losses for Marsh’s financial institution clients who placed insurance in the UK.

In 2024, Marsh Specialty UK’s financial institutions (FI) claims team handled 567 claims notifications on behalf of their clients around the world. This represents a 7% decrease compared to 2023.

Our Financial institutions claims insight report 2024 details the notifications of policy-defined claims, investigations, losses, and circumstances, for Marsh’s FI clients who placed their programmes in the UK.

Download the report to discover the types of risks faced by financial institutions. Use the data and commentary to benchmark your organisation and build a risk management strategy.   

Read the report for:

  • Analysis of year-on-year claims trends for key insurance lines including errors and omissions (E&O), directors and officers (D&O), employment practices liability (EPL), crime, and pension trustee liability (PTL).  
  • Frequency of claims in the banking, diversified financials, and insurance sectors.
  • Causes of loss behind each type of claim.
  • Notification breakdown by region; UK, Europe, US and Canada, Middle East and Africa, and Latin America.  

The report also outlines five important factors that financial institutions need to be aware of and which are expected to shape the FI claims landscape in coming months, including the increasing use of generative AI, growing scrutiny on anti-money laundering controls, and the rollout of crypto asset regulation.