Securities Broker/Dealer and Registered Representative Professional Liability
Our team of experienced underwriters has extensive knowledge in risk assessment and prides itself on delivering customized and innovative insurance solutions.
This product is an errors and omissions policy that responds to claims against a broker/dealer and/or registered representatives for acts or omissions in rendering or failing to render professional services. Common claims allege negligence, misrepresentation and failure to supervise.
Product Highlights
- Duty to defend civil proceedings and arbitrations; non-litigated claims may be resolved informally without resorting to legal intervention.
- Pre-litigation assistance up to $10,000 annually for legal counsel to address disciplinary proceedings and responses to subpoenas.
- Professional services defined to include conduct as a registered investment adviser.
- Supervisory coverage for the broker/dealer extends to current, former, retired and disabled registered representatives.
- Wrongful acts include libel, slander, defamation, disparagement, or violation of a right to privacy.
- Automatic one year discovery period following termination of a registered representative’s contract with the broker/dealer during the policy period for any reason other than cause.
Underwriting Considerations
- Acceptable risks include firms with 100 or more registered representatives.
- For those firms with less than 100 registered representatives,
Catlin offers a program product
through the Program Division of Brown & Brown of California.
Limits
- Up to $3,000,000 per claim/ $10,000,000 aggregate.
Program Parameters
- Primary and excess coverage available.
- Product offerings are underwritten through the following companies: Catlin Specialty Insurance Company, Catlin Insurance Company, Catlin UK, Catlin Bermuda, and the Catlin Syndicate. All companies have been assigned a Best rating of “A” (Excellent) XIII.
Contact
Catherine Cossu | 212-801-3412 |
catherine.cossu@catlin.com
Lilian Morvay | 212-801-3421 |
lilian.morvay@catlin.com
Cynthia Yousef | 212-801-3426 |
cynthia.yousef@catlin.com