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bankers professional liability insurance (BPL), (BPLI)

Bankers professional liability (BPL) Insurance (BPLI) is a type of errors and omissions (E&O) coverage written for banks and financial institutions.

Additional Information


The policies cover economic losses resulting from mistakes committed in providing financial services that include but are not limited to acting as a wire transfer or escrow agent; consumer financial, tax, or estate planner; or trustee under a bond indenture and providing electronic data processing services. Although the term "bankers professional liability insurance" (BPLI) is often used interchangeably with "trust department E&O liability insurance," the latter is actually a subset of BPLI. This is because coverage for liability arising from a bank's trust department is only one of the many kinds of insurance provided under BPLI forms.