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North American Professional Liability Insurance Agency, LLP (NAPLIA) is a national agency that specializes in procuring Professional Liability Insurance. On average, each of our executives and producers have over 15 years of experience in the professional liability industry.

Contact us and you will speak directly with someone who is experienced in professional liability and will work with you to obtain the best options for your business.

Investment Advisors Professional Liability Insurance Articles

Article Archive - Investment Advisors, Broker/Dealers, TPA, Financial Professionals

 

14 Critical Mistakes Advisors will Make
From ignoring social media to being unable to delegate, advisers who fall into these traps will fail to thrive.

High Profile Clients and their exposure to Accounting and Investment Professionals
High profile clients are generally an attractive market segment, but they also potentially cause higher exposures. If you have high profile clients, we recommend taking proactive risk management measures, and identifying these measures to your insurance carrier up front to mitigate underwriting concerns.

DOL Cracks down on Retirement Plan Advisors
Because of the increased number of DOL enforcement staff, "the chance that the DOL could audit your plan is increasing," the white paper warns. "There is every indication the DOL is escalating audits of small plans," 

Investment Adviser ERISA Bonds Overview
An overview to assist you with understanding ERISA Section 412 bonding requirements.

Inform your clients regarding Fiduciary Insurance
NAPLIA has developed a universal "Fiduciary Acknowledgement Form" to assist you in informing your clients about the benefits and value of Fiduciary Insurance. This is not only a benefit to your clients, but a practical Risk Management Practice for your firm.

Using your E&O insurance to market your firm
Gaining new clients, and maintaining your existing clients, is obviously a priority in growing your practice. Don't overlook the value of using your Insurance in your marketing efforts. Learn how and about NAPLIA's exclusive Confirmation of Insurance.

Steps Investment Professionals can take to avoid claims
Review and update investment plans strategies and risk tolerance guidelines with the client(s). Make sure to listen, document and communicate your efforts on their behalf.

Frequently Asked Questions
What is the best way to determine if my current policy provides adequate coverage? Do I need "Fiduciary Insurance"? How do I obtain an ERISA bond for one of my clients 401K plans?

 

White Papers

 

ERISA 3(16) Independent Fiduciary: Errors & Omissions Insurance and Bonding Essentials
The reporting and disclosure obligations of a 3(16) make for a unique fiduciary role under ERISA. Having proper insurance and bonding coverage is essential for the protection of the 3(16) as well as the plan sponsor. This White Paper outlines E&O and bonding essentials relevant to ERISA 3(16), along with three specific case studies.

The Investment Advisor's Guide to Errors & Omissions Insurance
An exclusive guide to the Errors & Omissions Insurance Application for Investment Advisors and Financial Professionals.  This White Paper adds clarity to the evaluation process, offers guidance, and where possible, a roadmap to improved outcomes.

The Rising Need for ERISA Fiduciary Liability Protection for TPAs and Administrative Service Providers to Retirement Plans
One of the major issues facing TPAs is their increasing fiduciary liability exposure. Recent court decisions have held TPAs responsible for serving in fiduciary roles, resulting in large penalties for exposures they and their insurance carriers failed to see coming. Even when your client contract contains clear language stating that you are acting in a non-fiduciary role, it's critical your policy provide proper coverage for these ERISA fiduciary claims. 

Using your E&O Insurance to market your firm
Gaining new clients, and maintaining your existing clients, is obviously a priority in growing your practice. Don't overlook the value of using your Insurance in your marketing efforts.

3(38) Fiduciary Status
Managing your Liability What you need to know regarding proper coverage for your services as an ERISA 3(38) Investment Manager.

Proper Insurance Coverage for Plan Sponsors 

State Security Breach Laws - Summary by State
At least 46 states have enacted data breach notification laws.  NAPLIA summarizes the essential information for each state including; definition of "personal information", notification requirements, penalties, and links to full statutes and laws.

 

Legal Opinions

 

Bonding Requirements Under ERISA Section 412
"Bonding is required where and advisor has the authority to direct the plan trustee to pay the advisors fee." - Marcia Wagner, ERISA Attorney

Advisors Ability to purchase Fiduciary Insurance on behalf of Plan Sponsor