Zurich Australia has launched two financial insurance products amid an increased focus on managing risk in the banking, credit union and building society sectors.

As flagged by General Insurance GM Shane Doyle in an interview with insuranceNEWS.com.au recently, Zurich has added bulk to its product capacity with two new insurance lines for investment managers and financial institutions.

The new structured insurance solutions package is tailored for investment managers, including professional liability cover for managed funds under mandate, marketing of investment structures and portfolio management.

The fraud and professional liability insurance includes cover for fraud and civil liability mitigation costs, identity theft cover and international program capabilities.

Global Corporate Business head Kai Dwyer says Australian companies have previously been unable to access fraud and professional liability cover from local underwriters.

“Financial institutions have some of the most complex operation structures of any sector in Australia,” Mr Dwyer says.