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Frustrated with Liability Insurance

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Aug 9, 2008 12:37 am

bullfighter

Joined: 2005-09-14Offline

Just curious to know how many RIAs are operating without professional liability insurance?



I have spent close to a month trying to get a couple of quotes, for comparison purposes, and I am getting frustrated. They seem to nitpick everything on the Form ADV. No performance fee billing, no CMOs, no ETNs, no junk bonds, etc., etc., etc.



The only quote I have is from Chubb, $6,000/year with a $15,000 deductible. Comments?

Aug 13, 2008 5:59 pm

bullfighter

Joined: 2005-09-14Offline

FYI: Got a new quote from Lloyd’s of London. $3600/year with a $5,000 deductible. Sounds pretty good. 

Aug 13, 2008 6:24 pm

anonymous

Joined: 2005-09-29Offline

Sounds like being a fiduciary is very expensive. 

Aug 22, 2008 2:38 am

MinimumVariance

Joined: Offline

try CalInsurance – U have 2 B a licnesed insurance agent tho and be appointed by Legacy