Errors & Omissions Insurance (Professional Liability)
Investment Advisors & Consultants Professional Liability Insurance
Investment Advisors and Consultant’s Professional Liability (or Errors & Omissions) policy protects advisors and consultants against losses due to any actual or alleged negligent act, error or omission committed in the scope of their duties as investment counselors/advisors.
Increased Scrutiny & Why "having insurance doesn't mean you are covered"
ERISA attorneys who assist plan sponsors with their RFP's and compliance reviews are becoming a driving force behind Investment Advisors seeking clarity on their insurance coverage. Proof of insurance coverage may no longer be satisfied by a Certificate of Insurance (COI). Having affirmative fiduciary coverage should be used as a marketing tool.1
NAPLIA understands the Financial Industry and we are at the forefront of the constantly changing professional liability market that serves them. NAPLIA is recognized by the leading financial associations, including fi360 and CFDD, as the leading expert in Investment Adviser Errors & Omissions. And, as an independent agency we serve only the best interests of our clients. Why would you trust your practice to anyone else?
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The Adequacy of Coverage and Exclusions
The only way to determine if your Errors & Omissions policy provides coverage for the advisor - and the entity - is to have a "legitimate expert" read the policy, including all endorsements, and compare the coverage to the services offered. Errors & Omissions policies vary widely and they can contain coverage restrictions and contradictory clauses on policy coverage intent. Contact NAPLIA today to evaluate your coverage.
NAPLIA provides Professional liability insurance or errors and omission insurance for all types of investment advisors and consultants:
- Investment Advisors
- Investment Consultants
- Trustees
- Broker/Dealers
- Pension Consultants
- Litigation Consultants
- Actuaries
1 Many Investment Advisors believe they have the appropriate Professional Liability Coverage for the services they provide when in fact they don't. As a result, expert retirement plan advisors are raising the bar on their competitors by proactively reviewing their policies and presenting a COI with proof of affirmative insurance coverage upfront.
