bankers professional liability insurance (BPL), (BPLI)

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.