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So far Lockton Affinity, LLC has created 45 blog entries.

All About Social Engineering in Cyber Crime

All About Social Engineering in Cyber Crime Whenever the topic of cyber crime comes up, leaders at organizations everywhere often have one question: How do fraudsters and hackers convince so many people to hand over their passwords? The simple answer is social engineering. People are social by nature, with a decision-making process that’s highly responsive [...]

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By | January 24th, 2024|Cyber Liability Insurance, Cyber security, RIA|0 Comments

The Risks of Internal Theft vs External Theft for Financial Professionals

The Risks of Internal Theft vs External Theft for Financial Professionals The topic of external theft is familiar for many advisors. Assets you oversee are attractive to criminals and so is the personally identifiable information of your clients, investors and plan participants. Stories abound of fraudsters and internet hackers stealing funds from financial firms and [...]

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By | December 28th, 2023|RIA, Risk Management|0 Comments

Why Cyber Claims Cost So Much

Why Cyber Claims Cost So Much Ask anyone who’s been hacked and they’ll tell you: Cyber claims are expensive. In the advisory space, overall costs regularly exceed $250 per exposed record. With the volume of records involved, these costs quickly add up. Many claims cost over $1 million today. But many professionals still wonder where [...]

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By | November 27th, 2023|Cyber security, Industry Information, RIA|0 Comments

What’s the Difference Between E&O, Fidelity Bonds and Cyber Liability?

What’s the Difference Between E&O, Fidelity Bonds and Cyber Liability? When you face a complaint involving your advisory business, insurance can help you achieve a better outcome. But risks come in all shapes and sizes — and so do the policies that protect against them. A competent broker will usually recommend E&O, Fidelity Bonds and [...]

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By | October 31st, 2023|Insurance Information, RIA|0 Comments

6 Steps You Have to Take to Protect Your Plan

6 Steps You Have to Take to Protect Your Plan Since the days of the Pony Express, financial services businesses have faced elevated risk. The only difference today? The train robbers have been replaced by cyber criminals. In this new Wild West of digital finance, it’s important for plan fiduciaries to be ready. With October [...]

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By | October 16th, 2023|Cyber security, RIA|0 Comments

How to Minimize Your Liability for New SECURE 2.0 Investors and Sponsors

How to Minimize Your Liability for New SECURE 2.0 Investors and Sponsors As many retirement plan advisors know, the retirement landscape is changing. Recent Setting Every Community Up for Retirement Enhancement Act revisions (SECURE 2.0) are designed to spur more employers to create plans and more workers to participate in them. The likely result over [...]

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By | September 13th, 2023|Industry Information, RIA|0 Comments

How Advisors Meet Their Custodian Requirements With Lockton Affinity Advisor

How Advisors Meet Their Custodian Requirements With Lockton Affinity Advisor Sometime in the last year or so, you probably received notice that your custodian was instituting new insurance requirements. Today, more and more financial professionals are meeting their custodian requirements with coverage from Lockton Affinity Advisor. Here’s the story of how one advisor went from [...]

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By | August 14th, 2023|Cyber Liability Insurance, RIA|0 Comments

How Economic Downturns Can Lead to More Claims

How Economic Downturns Can Lead to More Claims While experts continue to debate whether the economy has officially entered a recession, signs point to increasing financial uncertainty for many. Inflation is up, layoffs are mounting and markets are volatile. In short, it’s a recipe for claims. Official recession or not, economic downturns of any sort [...]

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By | July 18th, 2023|Industry Information, RIA|0 Comments

Cybercrime Terminology to Know

Cybercrime Terminology to Know As an advisor, not knowing or understanding the cybercrime risks your business faces puts you at a disadvantage against cyber criminals who know exactly what they're doing. But wrapping your head around the lingo used to talk about the topic can be tricky. Cybercrime terminology is complex and it's constantly changing [...]

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4 Ways to Minimize the Risk of SECURE 2.0 Changes

4 Ways to Minimize the Risk of SECURE 2.0 Changes After a long and windy road, the SECURE 2.0 Act has become law. The new legislation, which updates the original Setting Every Community Up for Retirement Enhancement Act of 2019, contains a number of changes impacting recordkeepers. SECURE 2.0 changes represent an opportunity for your [...]

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