A Business Owner’s Policy (BOP) combines common business coverages (General Liability and Property Insurance) into one convenient policy. It’s a great fit for many financial service providers and provides the flexibility to add additional coverages based on your business’s needs.
Financial Service providers work in a challenging landscape – client expectations are high, hours are long and the ever changing nature of laws and regulations create delicate landscape to operate in. On top of all this you are responsible for handling and safeguarding sensitive client information. It is important for your firm to adopt a risk management strategy that both reduces the likelihood of a loss while protecting you and your business in the event one does occur. We offer financial services insurance solutions to fit many professions, such as:
- Accountants & CPAs
- Financial Planners & Advisors
- Tax Preparers
- Money Managers
Key Coverages for Financial Service Professionals
Professional Liability (Errors & Omissions)
Often referred to as Errors and Omissions (E&O) Insurance, professional liability helps cover you and your business if you make a mistake in the services provided to a customer. Even if you did not make a mistake but your customer believes you did and sues you, this coverage will help pay for your defense.
Technology brings incredible capabilities to our fingertips. Unfortunately, it also brings additional risk. Financial environments handle sensitive client data every day and are subject to regulation on how that data is handled, stored and communicated. Even a simple oversight can result in costly mitigation requirements. Cyber coverage has become increasingly popular to mitigate the impact of data breaches, downed computers and networks and the losses that result.
Also referred to as commercial auto, business auto can be very straightforward (insuring vehicles your company owns) but also confusing (i.e. using personal vehicles for business). While many of the coverages are similar to that on a personal auto policy, the limits and conditions can be very different and may vary based on the use of the vehicle.