A business owners policy is a simplified multiline policy that includes both property and general liability as well as business interruption protection.

Errors and Omissions Insurance, also known as professional liability, protects you as the advisor against the full costs of a claim made by a client for negligent acts or errors made by you or your employees. Coverage is included for mutual funds, publicly traded stocks, bonds, and REITS, covered calls, protective puts, and regular ETFs and ETNs. This insurance covers your professional liability in the event of financial advice that creates a loss, accusations of negligence, or errors in calculations

Cyber Liability Insurance is crucial for investment advisors who handle sensitive financial information. This coverage protects against all types of cyber-attacks. Cyber attacks and data breaches are a growing threat to our economy, and the proliferation of AI is exacerbating these risks at a rapid rate. Protection against these threats is crucial for investment advisors who handle sensitive financial information. This insurance will augment and support your business in the recovery after an attack. It will provide access to expert resources and financial support through investigation, notification, recovery, and post-recovery activities. These types of cyber-attacks make your business vulnerable:

• Ransomware
• DDos attack
• Phishing
• Unauthorised access
• Malware and viruses
• Data breaches
• Impersonation

Property Insurance protects the investment you’ve made in your business property including office space, furniture, computers, equipment, and artwork.

General Liability covers basic risks faced by financial professionals, including client injuries on your property.

• Property Damage: You visit a high net-worth client at his home for a scheduled meeting. As you wait in his foyer, you accidentally knock over and damage an expensive antique vase. Your CGL policy would cover the damages.
• Bodily Injury: A vendor is delivering lunch to your office. While dropping the food off in your office kitchen, the delivery person trips on an extension cord that was left on the floor. He injures his hip and sues your firm for medical damages.
• Personal and Advertising Injury: Your company is rebranding and developing a new logo featuring an image of a bald eagle and a stock market chart. It turns out this logo is incredibly similar to another investment advisory firm in your area, and they sue you for copyright infringement.

The number of lawsuits filed by employees against their employers has been rising. While most suits are filed against large corporations, no company is immune to such lawsuits from disgruntled employees. EPLI provides protection against many kinds of employee lawsuits, including claims of:

• Sexual harassment
• Discrimination
• Wrongful termination
• Breach of employment contract
• Negligent evaluation
• Failure to employ or promote
• Wrongful discipline
• Deprivation of career opportunity
• Wrongful infliction of emotional distress
• Mismanagement of employee benefit plans

All financial services firms employing four or more people are required to have workers’ compensation insurance.