INSURANCE FOR RIAS
The difference of working with RIA specialists
At Lockton Affinity Advisor, we’re not only experts in FI insurance, we’re RIA specialists. In fact, many of our brokers were financial advisors at one point in their careers before switching to insurance — it’s first-hand experience that informs everything we do.
EXPERTISE FOR YOU
The best of both worlds
Our experience led us to our own individual approach, where we customize insurance solutions for every client. With us, you can get the best of both worlds. While we have developed our own exclusive insurance solutions for registered investment advisors, we complement these options with access to a wide variety of available carriers and markets.
The flexibility to adapt
We also understand that change is happening across the industry. We are knowledgeable about recent custodian requirements and have tailored solutions to help address social engineering and electronic crime risks. We also have solutions capable of addressing retroactive exposures.
Curious what our coverage will look like for you?
Want to know more about our approach to RIA insurance coverage?
OUR OFFERINGS
The key coverages advisors need
As an advisor, we know you face many challenges as you work to obtain necessary coverages, understand your options, meet compliance requirements, protect your business and control your risks.
At Lockton Affinity Advisor, we work to properly coordinate coverages for your key exposures. Options include both our own proprietary coverages, plus broad access to all the top carriers to help you find your best solution. A conversation with our insurance experts starts by looking at how you are protected against these key risks.
RIA Errors
and Omissions
Errors and omissions exposures are some of the primary exposures you face as an advisor. Errors & Omissions Liability Insurance with fiduciary coverage can provide critical protection for you and your career. RIA E&O coverage is designed to cover certain legal fees, judgments or settlements resulting from claims and litigation brought against you for the services you provide.
Our fiduciary coverage meets ERISA standards and ensures any fiduciary duties you perform are also covered.
Cyber Liability
for RIAs
Advisors face a growing threat from cyber-related exposures, including breaches, malware, electronic crime and social engineering. Cyber Liability Insurance can protect you against these and other top cyber risks.
At Lockton Affinity Advisor, we make it easy to add Cyber Liability to your E&O coverage. We offer solutions that address many of the deficiencies found within today’s marketplace, where sparse coverage, hidden fees and no available cyber coverage are common.
Financial exposures from a cyber incident can exceed $250 per record. With Lockton Affinity Advisor’s Cyber Liability Insurance for RIAs, you can protect against the risk of these costs. Adding our Cyber Liability to your E&O policy is quick and easy. It takes just 3 minutes to apply and get tailored coverage to meet your needs.
Crime / Fidelity
Bonds
Advisors also face exposure from fraudulent or dishonest acts by employees and other third parties. RIA Crime / Fidelity Bond coverage is designed to protect advisors against certain theft risks not covered by their E&O or Cyber coverages, such as losses caused by theft, fraud and electronic crime.
With expanding risks from fraudulent funds transfer requests and wire change instructions, the proper Crime / Fidelity Bond coverage is a must. Lockton Affinity Advisor’s RIA insurance experts can help coordinate your coverages to protect against these risks.
ADDITIONAL COVERAGES
Meeting your unique needs
Our RIA insurance specialists understand that every advisor’s business is different and that you can face a wide variety of risks. Our program offers solutions to meet these additional coverage needs, including:
ERISA Bonds Insurance
Financial Institution Bonds
BOP with General Liability
Directors & Officers
Workers’ Compensation
BOP with General Liability
Contact us
If you have any questions about the Lockton Affinity Advisor Insurance Program, please call one of our knowledgeable Associates today or fill out our contact form.
(844) 406-5958
Phones are answered Monday through Friday, 7 AM to 5:30 PM (CST).
