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Errors and Omissions Insurance covers certain legal fees, judgments and settlements that you may face as a result of claims and litigation brought against you based on the advice or services you have provided.

Unfortunately, today’s society is very litigious. Despite your relationships with clientele or how careful you are in your role, you simply never know and it pays to be covered.

Our E&O policy contains a broad definition of Professional Services, including services and advice as a Financial Advisor, Financial Planner, Registered Investment Advisor, Registered Representative and Life Insurance Agent. Coverage is provided for services rendered for advice given to a client or customer by you for a fee, remuneration, or other consideration as it relates to a written agreement between you and your client. The policy extends coverage to services performed in the capacity of a fiduciary as it is defined by ERISA.

The policy excludes certain activities, including but not limited to: insider trading, foreign securities, performance guarantees, and alternative investments such as non-publicly traded REITS, uncovered options, private placements, derivatives, limited partnerships, and hedge funds not part of a mutual fund traded on a national exchange.

Contact us at [email protected] or (844) 406-5958 and we will be happy to assist you.

An individual policy limit means you do not share your policy or its limits. You will always have access to your full policy limits.


Cyber liability insurance covers hackers or viruses, loss or theft of devices that contain records or passwords and all paper files that might be stolen, mishandled or disposed of improperly. Cyber Liability insurance provides coverage against high costs that can accrue as a result of any theft or breach of client/customer data.

If you keep personally identifiable information (PII) about your clients, such as credit card information, full names, addresses and more, you could be at risk for the costs associated with breach of your business records.

Our policy provides broad coverage for both first party breach response services and third party privacy liability and information security liability exposures as well as associated costs arising from security and privacy breaches when handling sensitive and personally identifiable information of others in your business.

The policy excludes certain activities, including but not limited to: loss under a merchant services agreement for acceptance of credit card payments; loss arising from unprotected portable computers or electronic devices; unlawful collection of personal information or failure to provide method to withhold consent from the collection; or intentional breaches or violations of privacy law.

A single call or email to BBR Services, notifying the team of a suspected data breach will begin activation of the following services:

  • Computer Forensic Investigators
  • Specialist Legal Services
  • Notification services
  • Credit Monitoring
  • Call Center Support
  • Public Relation Consultants

The policy includes complimentary loss control and risk management information.

All relevant personnel within your organization will have access to, a risk management portal that provides educational and loss control information relating to compliance with applicable laws, safeguarding information, preparing to respond to breach incidents and best practices.


It is effective at 12 a.m. (local time) the day following purchase.

Yes, the policy includes affirmative ERISA Fiduciary coverage, including services as an ERISA 3(21) and 3(38) advisor.

Claim reporting information will be provided to you when you get your policy. As always, we are here to assist you if you have questions.

Yes, you can receive coverage for your prior acts matching your current coverage, if your current coverage has been maintained without interruption. However, if you are insured solely through your Broker Dealer, your prior acts coverage could be limited. If you are aware of circumstances that could result in a claim, these should be reported to your current insurer prior to binding coverage.

Coverage extends to anyone providing covered Professional Services on behalf of your business. This includes your clerical staff and other employees, independent contractors working for you when the policy starts, and your Chief Compliance Officer.

Yes, defense expenses are included within the policy limit. The policy offers pre-claim assistance to cover expenses associated with the investigation and mitigation of a potential claim, up to $5,000. If a claim against you is pursued, you will be involved in selecting the counsel for your defense. Additional benefits include payment up to $50,000 in addition to your liability limit for attorney and related fees in response to a subpoena. And, you can expect reimbursement of legal fees and expenses resulting from a disciplinary proceeding, up to $50,000.

Your insurance policy is underwritten by an insurance carrier with an “A” rating from A.M. Best. Lockton Affinity stands behind you to ensure you are getting the best policy for your needs.

(Coverage is provided by Certain Underwriters at Lloyd’s.)

If your question is not answered above, give us a call at (844) 406-5958.

Contact Us

If you have any questions about Lockton Affinity’s 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).