Business Insurance for Actuarial Services

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Actuarial Services
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Why do actuaries need insurance?

Whether working independently or as part of a firm, actuaries need business insurance to defend against potential lawsuits. In addition to common risks that every business faces, actuaries could also be held liable for errors that cause their clients to lose money, making business insurance vital.

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Get same-day insurance

With Insureon, actuaries can get insurance coverage the same day they apply for quotes.

Fill out our easy online application to compare quotes from top-rated providers.

What types of business insurance do actuaries need?

These insurance policies cover the most common risks of actuarial work.

General liability insurance icon

General liability insurance

This policy covers basic risks, such as customer injuries and other accidents at your actuarial business. Bundle with property insurance for savings in a business owner’s policy.

  • Slip-and-fall accidents
  • Damaged customer property
  • Libel and slander lawsuits
Professional liability insurance icon

Professional liability insurance

This policy, also called errors and omissions insurance or E&O, can help cover legal expenses when an actuary is sued for late, inaccurate, or unsatisfactory work.

  • Risk calculation errors
  • Professional negligence lawsuits
  • Project scope disputes
Business owner’s policy icon

Business owner’s policy

A business owner’s policy bundles commercial property insurance and general liability coverage. A BOP is one of the most cost-effective insurance policies for actuarial consultants.

  • Customer injuries
  • Damaged business property
  • Business interruption incidents
Workers’ compensation insurance icon

Workers’ compensation insurance

Most states require workers' comp for actuary businesses that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.

  • Employee medical expenses
  • Disability benefits
  • Legal costs
Commercial auto insurance icon

Commercial auto insurance

Commercial auto insurance helps pay for expenses after an actuary's vehicle is involved in an accident. Each state has its own requirements for auto liability insurance.

  • Property damage caused by your vehicle
  • Auto accident medical costs
  • Vehicle theft and vandalism
Cyber insurance icon

Cyber insurance

This policy helps actuaries recover financially from data breaches and cyberattacks. It's strongly recommended for any small business that handles sensitive information.

  • Customer notification costs
  • Fraud monitoring services
  • Regulatory fines
Looking for different coverage? See more policies.

How much does business insurance cost for insurance professionals?

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A small business with a few actuaries will pay less for insurance than a larger company.

Factors that affect premiums include:

  • Insurance products or services offered
  • Business property and equipment
  • Business income
  • Types of insurance purchased
  • Policy limits and deductibles
View Costs

How do I get actuary business insurance?

It's easy to get actuary business insurance if you have your company information on hand. Our application will ask for basic facts about your business, such as revenue and number of employees. You can buy a policy online and get a certificate of insurance with Insureon in three easy steps:

  1. Complete a free online application
  2. Compare insurance quotes and choose policies
  3. Pay for your policy and download a certificate

Insureon's licensed agents work with top-rated U.S. providers to find the right coverage for insurance actuaries, whether you work independently or hire employees.

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