Insurance Products:
The array of available insurance products for Investment Advisors and Plan Consultants can be confusing. We believe in a no-pressure process of providing you the necessary information and education to help you make informed decisions on your insurance needs.
Professional Liability: Provides coverage for negligent acts, errors or omissions of an Investment Advisor, Registered Rep, Plan Consultant, or other Financial Professional. (third party coverage)
IA ERISA Bond: Required by ERISA if an Investment Advisor has discretionary authority of client funds (third party coverage). Can be written on an individual plan or blanket basis. These bond the IA for fraud and theft of client plan funds.
ERISA Bond: Required, by ERISA, to be held by the plan holder (1st party coverage). Must be equal to 10% of the plans assets up to $500,000.
Employee Dishonesty: Provides coverage for theft or misappropriation of your funds by your employees (1st party coverage). Can be endorsed to include third party coverage (theft of client funds), and crime (theft of your funds by non-employee). May also provide automatic ERISA bond coverage.
