Insurance Developed for Plan Advisors

 

 

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Lockton Affinity Advisor provides insurance solutions to meet the unique professional needs of American Retirement Association members, from cost of correction to a breach of fiduciary duty claim.

Errors and Omissions and Cyber Liability

As a plan advisor, you face a multitude of risks, and ERISA law opens you up to a host of additional exposures and requirements. Unfortunately, countless E&O products on the market do not address these exposures.

The Lockton Affinity Plan Advisors Insurance Program does.

Our E&O policy covers certain legal fees, judgments or settlements resulting from claims and litigation brought against you for the services you provided. It includes fiduciary coverage to meet ERISA standards and ensure any fiduciary duties you perform are also covered.

With this policy, you receive:

  • ERISA claims counsel
  • Investigation expenses, including investigations by the Department of Labor, SEC and IRS
  • Coverage for IRS Section 4975 fines
  • No exclusions for alternative investments
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Cyber Liability Insurance

Through the Lockton Affinity Plan Advisor Insurance Program, you can add cyber liability to your E&O policy. Together, these policies address many of the deficiencies found in the market. Currently, many providers offer insurance with a low price point. Unfortunately, this often means poor coverage, hidden fees and no available cyber coverage.

In the event of a cyber incident, financial exposures can exceed $250 per record. With Lockton Affinity Advisor’s Cyber Liability Insurance, you no longer carry the risk of these costs.

With this policy, you receive:
• Fraudulent impersonation coverage with no sublimit
• First and third party coverage
• Cyber extortion and ransomware coverage
• Notification services
• Multiple limit and deductible options

 

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Key Components of E&O Insurance for Plan Advisors

Our E&O with Cyber Liability Insurance offers:

EXTENSIVE COVERAGE

Lockton Affinity provides insurance solutions to meet your unique needs, from cost of correction to a breach of fiduciary duty claim.

INDIVIDUAL POLICY LIMITS

Lockton Affinity Advisor’s E&O policy has individual limits, rather than a master policy with shared aggregate limits. There is no sharing of the policy, so you will always have access to your full policy limits.

SPEED AND EASE

Through Lockton Affinity Advisor, we provide a no obligation policy review. When you are ready to buy, you can get a quote and purchase E&O and Cyber Liability Insurance in less than 10 minutes.

EXPERTISE

Our representatives are knowledgeable about insurance and the needs of financial professionals. In fact, we have been providing insurance solutions for professionals like you for more than 20 years.

ABOUT LOCKTON AFFINITY

Lockton Affinity is part of Lockton Companies, the world’s largest privately-held independent insurance broker, and our reputation in the industry is unparalleled.

When you partner with us, you can be assured you will receive:

We shop around for the right insurance carrier for our programs, ensuring you receive the right coverage.

We will get you covered quickly and easily, so you can get back to your work. We handle claims efficiently, too.

We have a knowledgeable service team committed to making the insurance process easier for you. Whether you have a complex claim or a simple question, a real person will answer when you call.

Just like how you work hard for your clients, Lockton Affinity will work hard for you.

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) 868-7142
Phones are answered Monday through Friday, 7 AM to 5:30 PM (CST).