Management Liability for Financial Institutions

Securities Broker-Dealer Professional Liability Policy

Broker-dealers and their registered representatives can often find themselves facing claims of negligence, misrepresentation, unsuitability, or failure to supervise. This policy offers protection for claims alleging errors or omissions in rendering or failing to render professional services to your customers.

Coverage Highlights

Benefits

  • Designed specifically to offer protection to broker-dealers and their registered representatives
  • Broad, easy to use form
  • No audit provision for representatives added during the policy period
  • Cost of corrections provision built into the form
  • Supervisory coverage extended for acts of past representatives
  • Coverage for the sale of certain alternative products
  • Industry leading claims handling

Limits

  • Policy is structured with a per claim limit and a policy aggregate limit
  • Limits vary by risk but the typical policy aggregate cap is $10 million

Target Clients

  • FINRA registered broker-dealers and their registered representatives

Forms