Markel offers errors and omissions insurance for registered investment advisors, investment advisory representatives, financial planners, divorce financial consultants, and investment management consultants. We have insured this niche since 1989 and have a strong reputation in the investment advisor community, as a result of our industry expertise, stable premiums, and excellent claims management services. Experienced staff specializes in policy customization, risk management, and mitigation strategies.
In addition to management liability and tax preparation coverage options, the program now offers cyber liability and data breach coverage as an optional endorsement to its E&O policies.
Target clients are both small and large investment advisor practices with assets under management up to $5 billion, and have conservative investment philosophies. Insureds typically have very low exposure to alternative investments such as unregistered securities, private REITs, ETNs, structured notes, private funds, and other illiquid investments.
Policy premiums can vary greatly from as low as $1,000 or as high as $100,000, with limits generally falling between $1M and $5M per claim. Coverage is offered in all 50 states. Markel can write coverage for any broker that has a surplus lines license.
Markel Specialty, one of Markel Corporation’s four insurance divisions, underwrites innovative property and casualty solutions for both standard and hard-to-place risks. Success in specialty insurance is about knowing your markets. With 70+ years of experience in our niche markets, our product focus is on commercial programs and personal lines offering admitted and excess and surplus lines solutions. Distribution channels include retail agents, agents specializing in particular product lines, program administrators/MGAs/MGUs, and direct to consumer.
At Markel Specialty, it is our people that make the difference. We are dedicated to delivering customer service in extraordinary and memorable ways that sets Markel apart from our competitors. Our existing products are constantly reviewed and refined to make certain they are meeting the distinct needs of the marketplace. Other competitive advantages are the risk management expertise we share with agents and policyholders in the industry niches in which we compete as well as our financial strength. Independent rating agencies provide detailed reviews of operating results, capital and risk ratios, reserves and other financial results for Markel. Click here for details.