Financial advisors are working harder than ever to help protect and grow their clients’ investments. In the current economic climate, expectations are high and there are a many law firms that specialize in actions against financial institutions and advisors. As a result, “Errors and Omissions Insurance” is more important than ever. Also known as “Financial Advisors Professional Liability,” this type of insurance protects financial advisors and consultants against lawsuits arising from any actual or alleged negligent act, error or omission. Legal defense costs are included even if the allegations are baseless.
At Berkely Brokerage Corp., we work with many New York and Long Island investment firms and professionals who have decided that E&O coverage is essential. Without this insurance, your house and other personal possessions could be at risk if a loss occurs. We recommend that you purchase as much insurance as you can afford to avoid losing everything you have worked so hard to attain should you be sued by a client. We will discuss your business and your goals with you so that we can recommend the proper policy to suit your needs.
As a full-service New York insurance agency we can also provide you with the following insurance coverages that you may need for your business:
- ERISA bonds
- Computers and Media
- Identity Recovery Coverage
- Building & Business Personal Property
- Business Income
- Business Liability
- Commercial Auto
- Workers Compensation
- Life & Health