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CREDS 3A.4 Insurance against fraud or other dishonesty


1A credit union must at all times maintain in force a policy of insurance that complies with the requirements in part 2.10 of the Credit Unions Rulebook Part of the PRA Rulebook.


The policy of insurance required by CREDS 3A.4.1R is intended to protect the credit union from loss suffered or liability incurred by reason of the fraud or other dishonesty of any of its officers or employees.


A credit union must ensure that the governing body reports to the members at the annual general meeting of the credit union on whether the credit union has maintained at all times the policy of insurance required by CREDS 3A.4.1R.