To meet the specific needs of your financial services business, InsureWise provides comprehensive product offerings that your agent or broker can customize. You need to be protected with the unique risks you face in your financial service business. When you want to ensure you are properly covered, InsureWise can help tailor the right policy to meet your specific needs.
What Insurance is Needed in the Financial Service Industry?
In order to help protect against liability risks, you want to management and professional liability insurance to protect the financial services you provide. Below is the common insurance coverage that financial services have in their insurance policy.
– General Partners Liability
– Fiduciary Coverage
– Errors and Omissions, or known as Professional Liability
– Employment Practices Liability (EPL) Coverage
– Officers, Directors, and Entity Liability Coverage (D&O insurance)
– Crime coverage
Types of Business Insurance for Financial Services
General Liability Insurance: Protects your business from claims involving bodily injury and property damage.
Worker’s Compensation Insurance: Due to work-related injuries or illnesses, this helps your financial services employees recover.
Cyber Liability Insurance: To help your business prepare for, respond to and recover from a cyber-attack, this insurance is essential. You need this considering the sensitive, confidential and personally identifiable information your financial services business handles.
Commercial Property Insurance: Protects your company’s physical assets from fire, explosions, burst pipes, storms, theft and vandalism.
Commercial Vehicle Insurance: Generally, if a vehicle is used for purposes related to the operator’s occupation, profession, or business (other than commuting), a commercial policy is required.
Insurance for Financial Services
Additional insurance ideal for the policy regarding your financial service business may include umbrella and excess liability, commercial liability insurance, commercial auto insurance, and more. Call InsureWise today and we will help you navigate your way through the various coverages and tailor a policy that fits your budgets and protects you and your financial service business.