Liftman Insurance

Liftman is uniquely qualified to help investment advisors overcome the many difficult and one-of-a-kind insurance situations they often face.
We represent the most complete range of financial insurance products and have worked with most of the leading carriers for decades.
We are therefore well positioned when it comes to crafting special policy language, negotiating special rates, and advocating special coverage on behalf of clients.
We also have special insight into carriers' underwriting process.

Errors & Omissions Insurance (also known as E&O or Professional Liability Insurance) protects the investment advisory firm and employees if they are sued by clients for any actual or alleged negligent act, error or omission, or breach of fiduciary duty committed in the scope of performing or the failure to perform their professional services.
Coverage includes legal defense costs even where allegations are baseless.
Directors & Officers Liability Insurance (also known as D&O Insurance) provides coverage for directors and officers of an investment advisory firm for allegations brought by stakeholders for errors in judgment, breaches of duty, and wrongful acts related to the firm's activities.

ERISA Bond ApplicationEvery fiduciary responsible for managing a client's pension, profit sharing or thrift plan and every individual or entity that handles the assets of such plans is required to obtain ERISA bonds under section 412(a) of the federal Employee Retirement Income Security Act of 1974 (ERISA).
This bond protects the assets of a client's employee benefit plan from fraudulent losses by a fiduciary.
It is a fidelity bond that satisfies ERISA requirements.
ERISA bonds pay clients whose assets the fiduciary manages.

This is a bond that the law requires certain investment professionals to post with some states.
It is a contract whereby an insurance carrier (the surety) agrees to have secondary responsibility to the state (the obligee) for any default or debt of the investment advisor (the principal).
It generally permits the state and residents of the state to sue under the bond for damages incurred as a result of the principal's violation of the provisions of the bond and/or the state's securities laws.
The bond indemnifies the obligee for losses sustained as a result of such default, up to the amount of the bond.

When a client gives personal financial information to a business, such as a credit card number, social security number, bank account number, or information on their health, finances or a legal matter, they trust that this information will be protected.
Most states have enacted legislation that requires a business to promptly take action when it becomes aware that private information has been stolen, lost, or subject to unauthorized access.
Taking action is costly and, depending on the number of individuals impacted, can result in thousands of dollars in notification and credit monitoring expenses.