An accounting error, data breach, or office injury could devastate a small finance business. Business insurance helps accountants and other finance professionals recover quickly from lawsuits and other unexpected costs.
This policy covers legal defense costs if a business is sued over an error that caused a client to lose money. It's sometimes referred to as errors and omissions insurance (E&O).
This policy covers basic accounting risks, such as customer injuries and property damage. Bundle it with property insurance for savings in a business owner’s policy.
A business owner's policy, or BOP, is a cost-effective way for financial professionals to purchase general liability coverage and commercial property insurance together.
Most states require workers' comp for businesses that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.
This policy helps accountants, bookkeepers, and other financial experts survive data breaches and cyberattacks by helping to pay for recovery expenses and associated costs.
Commercial auto insurance covers costs if a financial business's vehicle is involved in an accident. Most states require this coverage for vehicles owned by a business.
It’s easy to find insurance for finance and accounting businesses. Whether you’re a stockbroker, financial advisor, or hedge fund asset manager, you’ll need to have some basic information about your business available.
Our application will ask you for your annual revenue and payroll, among other details. You can buy a policy online and get a certificate of insurance with Insureon in three easy steps:
Insureon's dedicated team of licensed insurance agents works with top-rated U.S. providers to find the right insurance solution for your specific needs, whether you’re an independent mutual funds manager or operate a private equity firm with several employees.
Professional indemnity insurance is a type of insurance coverage that protects professional services businesses, such as an accounting firm, from claims of:
This policy is often called different names depending on the industry, for example, errors and omissions (E&O) in real estate, professional liability in construction, and malpractice in the legal and medical fields.
While this policy is not always mandated by state law, it can be required by clients or local jurisdictions. Professional indemnity is one of the most important policies a finance professional should have for risk management.
Allegations of professional errors, negligence, and inaccurate advice, even frivolous ones, can result in hefty expenses on your business. Professional indemnity coverage can protect you from the financial burden of a lawsuit.
Businesses in the financial industry often work with and store personally identifiable information (PII) about their clients.
This type of data is extremely tempting to cyber criminals, making your small business a likely target for cyber risks, such as a data breach.
Cyber insurance, also called cyber liability or cybersecurity insurance, protects small businesses from the high costs associated with a data breach or malicious software attack.
This policy covers expenses such as:
What's more, you can often easily add this coverage to your general liability policy during the underwriting process.
To fully protect your financial or accounting business from complex risks and exposures, you may need additional types of insurance, including:
Fidelity bonds provide reimbursement if one of your employees commits fraud, theft, or forgery against a client or your business. Unlike insurance, the policyholder must pay back the bond amount to the insurer or lender.
Employment practices liability insurance (EPLI), sometimes called EPL insurance, protects your small business if an employee sues over wrongful termination, sexual harassment, or another violation of employee rights.
Whether you’re running a business from home or telecommuting, working from home has risks that might not be covered by your homeowner’s or renter’s insurance. There are several policy options to...