Financial Services is another exciting class that Stuckey & Company can write under the Miscellaneous Professional Liability program.
There are many laws that govern various financial realms, representing unique coverage needs for professionals in the financial services sector. Loss exposures are high here, and proper coverage is essential.
- Size of Market: 740,017
- Average Premium: $1,250
- Minimum Premium: $500
How to Quote:
- Billing Service Professional
- Bookkeepers Professional
- Claims Adjusters Professional
- Payroll Processors Professional
- Tax Preparers Professional
Exposure Concerns for Miscellaneous Professional Liability Insurance:
A few of the underwriting concerns for services that fall into this category are, misuse of personal and confidential information, negligent calculations, commingling of funds, fraud, misinterpretation of tax code, along with many others.
Prohibited Services Include:
- Actuary Services
- Collection Agencies
- Financial Institutions
- Credit Risk Analysis
- What type and size client base does the applicant have?
- Does the applicant use a written contract with every client?
- Does the applicant carry a fidelity bond?
- Does the applicant provide any type of tax consulting services?
- Does the applicant provide any services related to tax shelters?
- Revenues from $1k to $10M
- Limits up to $5M
- Deductible options ranging from $1k to $5M
- Workers Comp
- Commercial Auto