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Financial Services Insurance

What is Financial Services Insurance?

Financial services insurance provides specialized coverage designed to protect businesses in the financial sector—such as banks, investment firms, accounting firms, insurance agencies, and financial advisors—from risks related to errors, omissions, fraud, cyber threats, and other liabilities unique to their industry.

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Why Do Businesses Need Financial Services Insurance?

  • Protect Against Professional Liability: Covers claims arising from errors, negligence, or mistakes in financial advice or services.

  • Mitigate Cyber Risks: Safeguards against data breaches, cyberattacks, and loss of sensitive client information.

  • Comply with Regulations: Many financial businesses are required to carry certain insurance policies to meet industry regulations.

  • Preserve Reputation and Financial Stability: Helps cover legal defense costs and damages, protecting the company’s reputation and financial health.

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Who Needs Financial Services Insurance?

  • Financial Advisors and Planners

  • Accountants and Auditors

  • Insurance Brokers and Agencies

  • Investment Firms and Brokers

  • Mortgage Brokers and Lenders

  • Banks and Credit Unions

  • FinTech Companies and Payment Processors

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