Financial Insurance for Advisories, Wealth Management & Banking

“Financial services” is a broad term that encompasses many hardworking businesses. Due to the nature of financial service businesses, which work inherently with sensitive client information and offer valuable advice daily, financial services need insurance to protect them from potential liability exposures. The industry scope encompasses banking, wealth management, financial advisors, insurance companies, mutual funds, CPA firms, and more. LMBF is proud to offer financial services insurance to help firms find the coverage they require.

Financial Services Insurance - What it Covers



Your finance firm may operate out of a physical location. Would you still be able to do what you did every day and generate revenue if something unexpected happened to that location, such as an instance of theft or vandalism? Your financial services insurance package should include commercial property, which protects your property against common perils.



Firms that offer accounting or financial advisory services may be required to carry professional liability insurance, and may not be allowed to work without showing proof of coverage beforehand. If you do your practice well, the risk of a lawsuit is low - but it could happen. Lawsuits can range into the thousands or even millions of dollars.



Business interruption insurance for accounting and financial services can cover the insured organization in the event that they encounter an insurable loss which forces them to close their doors temporarily. This includes coverage for loss of revenue, covers employee wages, ongoing bills, and rent during this period.

  What financial service insurance covers
  • Commercial property
  • Professional liability
  • Negligence and misinformation
  • Interruption
  What financial service insurance excludes
  • Criminal activities
  • Intentional injury
  • Wear-and-tear
  • Earth movements and flooding

How do you get financial services insurance?

Getting financial services insurance is easier than ever with the aid of LMBF. Take the time to answer a few questions about what you do and fill in our quoting form, choose your ideal coverage options, and view your quote options. Once you have selected a policy you like, you can begin on coverage as soon as you need it. Financial services insurance is crucial, if not mandatory, for many enterprises that deal with finances, advice, and wealth management.

Coverage Options for Financial Services Insurance

Insurance companies, CPA Firms, commercial banks, planning firms, advisory companies, and more all fall under the label of financial services. These essential businesses offer a service that many of us cannot go without. While we do hope that your financial service enterprise never has to make a claim, we may have to face that reality sometime or another. In the event you do submit a claim, it’s always handy to know what you are covered for. See below for some options of what your financial service insurance package may include, and what may be available as an option for your purchasing.
Property Insurance

Commercial property

  • Physical property
  • Stored belongings
  • Contents
More info
Professional Liability Insurance

Professional liability

  • Negligence
  • Misinformation
  • Omissions
More info
Commercial Auto Insurance

Commercial auto insurance

  • Collision
  • Comprehensive
  • Liability
More info
Business Interruption Insurance

Business interruption

  • Ongoing wages
  • Employee payroll
  • Bills
  • Rent
More info
Commercial General Liability Insurance

Commercial general liability

  • Bodily injury
  • Advertising injury
  • Property damage
More info
Cyber Insurance

Cyber liability

  • Data breach
  • Restoration costs
  • Liability
More info
Umbrella Insurance

Umbrella insurance

  • Extended liability
  • Advertising injury
  • Bodily injury
  • Property damage
More info
Equipment Breakdown Coverage

Equipment breakdown

  • Unexpected breakdown
  • Machinery
  • Boilers
More info
Directors and Officers Liability Insurance

Directors’ and officers’ insurance

  • Lawsuit expenses
  • Legal costs
More info
Crime Insurance

Crime insurance

  • Fraud
  • Dishonest actions
More info
Risk Management

Risk management

  • Strategies
  • Risk reduction
  • Mitigation
More info

Our Financial Services Insurance partners

You have worked hard to get where you are at. Individuals who operate in the financial sector are talented individuals who do it all - from advice to management and everything in-between. LMBF partners with some of the top insurance companies around to help you find the best financial insurance options. You’d never settle for “just good enough” - so neither do we. See how we can help you better today and get started on a financial insurance quote with LMBF.

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Want to Get Started on Your Financial Insurance? Start with a Financial Services Insurance Quote.

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Financial Insurance for Accountants, Wealth Management & Banks: Frequently Asked Questions

A: There is no one true answer to this question, as many businesses operate differently and too many variables impact your costs. These variables include the number of clients you have, your physical property, your projected revenue per year, the size of your business and its employees, and more. That being said, financial service insurance is only a slight expense next to the costs it could take you to recover from a lawsuit.

A: Again, there is no average answer to this question. Additional coverage options may increase your costs, but they will also increase your protection. If you are concerned about the overall cost of your financial service insurance, discuss with an LMBF broker for ways to save.

A: For many financial services businesses, it is mandatory to carry professional liability insurance. Even if it is not a legal requirement where you live, it is highly recommended. Professional liability insurance not only protects you in the event that a hugely expensive lawsuit does occur, but it can also help you to maintain a bond of trust between you and your clients. Some clients may refuse to work with you without adequate proof of insurance.

A: The financial sector encompasses a large number of professional enterprises, including banks, CPA firms, wealth management companies, consultants, banks, insurance companies, brokerages, and more. Due to the fact that all these companies deal with sensitive financial data to some degree, the risk of a lawsuit is never zero - hence the necessity for sufficient financial insurance.

A: Your financial service enterprise operates differently than any other company, meaning your financial services insurance package may look very unique. “Financial services insurance” can mean any number of coverage combinations and limits, solely depending on how you operate, your average revenue, and the risks that are specific to your business.

A: Business interruption is a vital coverage option for any business, no matter what sector it is in or what it does. In the event you should experience an insurable loss, business interruption insurance steps in to cover any ongoing expenses during the period where your business requires repairs or restoration to get back on its feet. Business interruption, for any organization, can ensure a smooth and steady transition back to “business as usual.”