FINANCIAL SERVICES CAPABILITIES
FIDUCIARY ERRORS & OMISSIONS
Fiduciary liability insurance protects ERISA fiduciaries against loss that may arise from their own employee benefit and pension plans.
Firms that sponsor a 401(k) or other retirement plan, or provide health insurance or other benefits should purchase fiduciary liability insurance to protect themselves from being sued under ERISA
OMISSIONS AND CARELESS ACTS
This type of insurance protects you from careless acts or oversights committed while serving your clients. It is critical coverage that can make big difference when legal situations arise. We offer Errors & Omissions for Security Brokers/Dealers, Registered Investment advisors, Financial Planners, Life Insurance Agents and other financial professionals from a foremost team of experts in this field. Regulatory Bodies, Such as The Financial Industry Regulatory Authority (FINRA), or Company Investors often require E&O Insurance.
Master Policies are possible for aggregators or affiliated professionals.
Directors and Officers can be held personally liable by stockholders, regulatory agencies and others for their actions. This type of coverage has become critically important in managing a company’s broad business risks and in attracting and retaining qualified directors and officers.
EMPLOYEE FRAUDULENCE / BONDS
A Fidelity Bond will protect you clients caused by theft or other dishonest acts committed by your employees, independent contractors or others you are legally responsible for. Broker/ Dealers and Investment Advisers managing ERISA accounts are required to purchase fidelity bonds. Losses can be devastating financially depleting, if uninsured. SMP can help.
FINANCIAL OBLIGATIONS REQUIRED BY LAW
Federal, state and local governments often require surety bonds to guarantee that business owners and individuals will comply with various laws protecting the public. In certain states, these bonds are mandatory for investment advisers and professionals in similar fields.