E&O Insurance for Financial Advisors
Your Financial Advisor business is especially prone to a lawsuit and exposure by the nature of your business. Therefore, it is imperative that you protect it with an E&O Insurance Policy for Financial Advisors. While not required by law, it is recommended that any professional business carries an E&O insurance policy. Also known as Professional Liability, this insurance coverage can protect your business from negligence, malpractice or misrepresentation claims.
Financial advisors that need E&O insurance include:
- Registered Investment Advisors
- Independent Investment Advisory representatives
- Financial Planners
- Asset Managers
- Divorce Planners
- Financial Advisors
Financial Advisors run a sensitive business of managing money for others. If you make a mistake and lose your client money through your fault, you may become liable for the financial loss. Mistakes happen in every professional business and whether your fault or not, you may find yourself in a lawsuit. This is where E&O or Professional Liability Insurance for Financial Advisors comes into play. E&O will help cover your defense as well as any judgment against your financial planning business. Instead of hoping something never happens, prepare your business for the unexpected – all successful businesses should prepare this way.
When choosing a plan, it is imperative that you understand what coverages you have, what is available and what risks are not covered. This is why talking to a licensed agent at Hirsch Insurance Brokerage in Houston, TX is important. Not only do we specialize in Professional Liability Insurance, but we can help you find gaps in your insurance coverage for other things like General Liability, Commercial Auto and more.