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Which Insurance Should You Consider?
Consider professional errors and omissions (E&O), cyber liability, crime, directors and officers, and employment practices liability. Start with the coverages tied to your day-to-day operations, then use the situations and buying questions below to compare your options.
Professional errors and omissions (E&O)
You advise clients, manage portfolios, value assets, or administer funds.
Professional-liability wording may define financial services and exclusions specifically; describe the work you actually perform.[6][7]
Ask Before Buying
Does the selected part list these services, and how would it treat an investment-loss, valuation, or regulatory inquiry, including defense costs and exclusions?
Cyber liability
You store investor or portfolio data or depend on outside administrators, custodians, or cloud services.
NAIC says cyber policies are highly customized; identify your own systems and vendors for the quote.[4]
Ask Before Buying
How does the proposal treat a breach or outage at those providers, response costs, and any sublimits or waiting periods?
Crime
Staff can instruct transfers, change payment details, approve withdrawals, or access assets.
Ask the broker whether the proposed form addresses employee actions involving client assets or transfer instructions.[5]
Ask Before Buying
Which people, assets, instructions, and direct-loss conditions are included in the proposed wording?
Directors and officers
A fund, manager, director, or officer could face a governance claim.
Private-company and private-fund parts may address different entities and people.[6][7]
Ask Before Buying
Who is insured under each selected part, and what limits, retentions, defense costs, and exclusions apply?
Employment practices liability
You hire staff or change compensation across funds, entities, or states.
Employment-practices coverage concerns employment allegations; identify the employing entities and worker groups.[3]
Ask Before Buying
Which employment claims, workers, defense costs, and exclusions does the proposed form address?
Map Roles and Quote Scenarios
Describe who advises, makes investment decisions, controls transfers, and serves each fund or client. For Advisers Act registrants and those required to register, the custody rule defines custody to include holding client assets or authority to obtain possession, subject to conditions and exceptions.[1]
Separate examples of advice or valuation claims, data incidents, asset transfers, and governance demands. These activities may be addressed by different policy parts.[6][7]
Compare Selected Parts and Terms
Chubb’s U.S. Asset Management Protector Premier guidebook lists a combined private-company D&O/professional-liability part including Investment Adviser Liability, plus separate private-fund clauses for fund/insured-person liability and fund-manager professional liability. Only clauses selected in declarations apply; the sample is claims-made, with defense costs reducing limits and applying against retention. Availability varies by state. Compare selected parts, entity/person schedules, limits, retentions, defense costs, and issued terms.[6][7]
Update the Quote as the Fund Changes
Providers to Compare by Coverage
Professional errors and omissions (E&O)
Alliance Risk
Spot Score
Review Score
Not enough ratings
Amelia Risk
Spot Score
Review Score
2.0/ 10
Cyber liability
Alliance Risk
Spot Score
Review Score
Not enough ratings
Amelia Risk
Spot Score
Review Score
2.0/ 10Crime
Alliance Risk
Spot Score
Review Score
Not enough ratings
Amelia Risk
Spot Score
Review Score
2.0/ 10
Directors and officers
Alliance Risk
Spot Score
Review Score
Not enough ratings
Amelia Risk
Spot Score
Review Score
2.0/ 10Employment practices liability
Alliance Risk
Spot Score
Review Score
Not enough ratings
Amelia Risk
Spot Score
Review Score
2.0/ 10Common Questions
What documents help an insurer review asset access and transfers?
Gather the fund and custody agreements, authority records, and transfer or withdrawal procedures that show who can access or move assets.[1]
Read the Full AnswerDoes Form ADV tell investors what the adviser’s E&O policy covers?
Form ADV describes an adviser’s services and conflicts; it does not show what an E&O policy covers.[2]
Read the Full AnswerSources and Further Reading
- 17 CFR § 275.206(4)-2 — Custody of funds or securities of clients by investment advisers — Electronic Code of Federal Regulations; Securities and Exchange Commission rule. Paragraphs (a)–(d) and (g); authoritative but unofficial eCFR display, current through 2026-09-24; accessed 2026-09-28.
Current custody-rule text and its defined adviser scope; eCFR identifies itself as authoritative but unofficial.
- 17 CFR § 275.204-3 — Delivery of brochures and brochure supplements — Electronic Code of Federal Regulations; Securities and Exchange Commission rule. Paragraphs (a)–(c) and (e); authoritative but unofficial eCFR display, current through 2026-09-24; accessed 2026-09-28.
Current adviser brochure-delivery rule and stated exceptions; not evidence of coverage.
- Small Business Insurance — National Association of Insurance Commissioners. General liability, what it does not cover, and other business insurance types; accessed 2026-09-28.
General distinctions among E&O, crime, cyber, and employment-practices lines; not financial-services wording.
- Insurance Topics | Cybersecurity — National Association of Insurance Commissioners. Cyber risks and cyber insurance; page background last updated May 9, 2024; accessed 2026-09-28.
General cyber customization context; not an asset-manager claim interpretation.
- Commercial Insurance Guide — California Department of Insurance. Form 700, revised June 14, 2024; commercial property and covered causes, crime, commercial general liability, time element, workers compensation, and rating sections; accessed 2026-09-28.
California commercial examples for crime, CGL, property, and quote review; not a national custody or bond rule.
- Asset Management Protector — Chubb. Asset Management Protector Premier overview; state availability varies and the issued policy controls; accessed 2026-09-28.
Named U.S. asset-management offering; check state availability and actual issued terms.
- Chubb Asset Management Protector Premier Policy Guidebook — Chubb. Private-company D&O and professional-liability part, including Investment Adviser Liability; private-fund clauses for fund/insured-person liability and fund-manager professional liability; declarations; claims-made sample; defense-cost and retention terms; accessed 2026-09-28.
Sample private-company and private-fund clauses, declarations, claims-made terms, defense costs, and retention; only selected clauses apply.
- FTC Safeguards Rule: What Your Business Needs to Know
Limited FTC-jurisdiction examples for some advisers; does not apply to every adviser.
This guide is general insurance buying education, not legal advice, an investment-adviser coverage opinion, or a determination of custody. Have qualified counsel review regulatory scope and ask the insurer about actual forms.
Updated 2026-09-28. Editorial Policy
Get Help With Insurance Buying and Renewals.
Get help buying coverage and managing renewals, with less paperwork for your team. Start with a free consultation.