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One in 45 small business owners experience a claim
Based on Hiscox claim data from 1/1/2016-1/30/2019
Eligible Professions
- Accounting
- Actuarial services
- Bookkeeping
- Financial auditing or consulting
- Insurance agent services
- Investment advice
- Medical billing
- Mortgage brokering/banking
- Stock brokering
- Tax preparation
Common Risks for Financial Services
- Bodily injury
- Defamation, libel, slander
- Dissatisfied client
- Emotional distress
- Negligence
- Personal injury
- Third-party property damage
- And much more
The Curcuru Agency Bundle for Financial Services
PROFESSIONAL LIABILITY (PL)
Also known as errors and omissions, or E&O, coverage, this protects you from claims of negligence during the course of conducting business. You’re protected even if you haven’t made a mistake.
GENERAL LIABILITY (GL)
Protects your business from a third party’s claims of bodily injury, property damage, and personal injury like slander and libel.
Claim Scenarios for Financial Services
PL CLAIM EXAMPLE
Dissatisfied client:
As a bookkeeper, you are required to hand over your client’s records to their accountant at tax time. The accountant discovers that the client owes a large amount in taxes. The client alleges that your bookkeeping methods resulted in the large tax debt, and files a claim. Professional liability insurance protects against claims of negligence, and will appoint an attorney to defend you if needed, even if you haven’t made a mistake.
GL CLAIM EXAMPLE
Property damage:
You are an auditor working at a client site, using the client’s computer. You accidentally spill a can of soda on the client’s laptop computer, damaging it beyond repair. The client makes a claim for the cost to replace the computer. General liability insurance protects against third-party claims of property damage, bodily injury, and associated medical costs.