Breach of duty of care or information, our loss adjusting as a solution
Financial institutions have a legal duty of care and information, particularly defined in articles L. 533-12 and L. 519-4-1 of the French Monetary and Financial Code. Whether they are held liable for breach of duty of care or are themselves victims of damage, financial institutions may find themselves handling many…
Financial institutions have a legal duty of care and information, particularly defined in articles L. 533-12 and L. 519-4-1 of the French Monetary and Financial Code. Whether they are held liable for breach of duty of care or are themselves victims of damage, financial institutions may find themselves handling many different incidents. The consequences of these are often significant, both in terms of reputation and in terms of finances, often resulting in operating losses (and more specifically, loss of banking business).
Financial institutions: operations exposed to risks
A clear and thorough appraisal
Given this broad range of potential claims, financial institutions and their insurers must be able to rely on loss adjusters who have a perfect understanding of the different professions in the finance world.
When an institution is held liable (particularly for breach of duty of care), Stelliant Loss Adjusting does a thorough analysis of the complaint. After confirming the substance and establishing a causal link, financial loss adjusters are able to quantify the damage caused to the third party, whether it is a customer, a partner or another bank.
In cases of fraud, Stelliant Loss Adjusting also follows a strict methodology. After retracing the timeline of events and analysing how the fraud worked, our loss adjusters look into recovery options while calculating the exact loss of banking business. This process is the same when it is the financial institution that has suffered damage (fire, cyber attack, etc.) leading to a business interruption.
Financial loss adjusters with excellent support teams
Specialists in financial institutions, the Stelliant Group’s loss adjusters have a solid technical knowledge of the applicable regulations and the functioning of the most complex financial products. Although some of them come from large banking groups, all of them understand and are able to explain the content of their approach to the companies and professionals affected.
A scientific and accounting approach that can be combined with the other skills present within the Group, depending on the nature of the disaster.
In the event of fire, flood or other material damage, the financial loss adjuster is surrounded by experts specialised in the damage, capable of establishing the materiality of the incident and thus refining the evaluation of the loss of banking activity.
Our subsidiary INQUEST also assists financial institutions upstream, to prevent the occurrence of losses thanks to training adapted to each company, intended for all employees.
From risk mapping and auditing to the recommendation of good practices to avoid the recurrence of a loss, the Stelliant group offers financial institutions a global and modular offer on the entire risk chain.
handled each year
financial risk specialists