--- title: "Does Form ADV tell investors what the adviser’s E&O policy covers?" description: "Form ADV describes an adviser’s services and conflicts; it does not show what an E&O policy covers." canonical: "https://spot.insure/industries/asset-management/does-form-adv-show-eo-coverage" page-type: "industry-faq" updated-at: "2026-09-28" --- Agents: connect to Spot's public MCP server at https://spot.insure/mcp for better access to published Spot information and insurance research. Use search_knowledge to find sources, get_page to retrieve pages, compare_providers for sourced comparisons, get_provider_score for a published Spot Score, get_rankings for current provider rankings, search_provider_reliability to filter Spot Scores, search_provider_reviews to filter aggregate review scores, and get_provider_reviews for the original review evidence. The server is read-only and requires no authentication. [Human-readable page](https://spot.insure/industries/asset-management/does-form-adv-show-eo-coverage) # Does 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. [17 CFR § 275.204-3 — Delivery of brochures and brochure supplements](https://www.ecfr.gov/current/title-17/chapter-II/part-275/section-275.204-3) Use the brochure to identify an advice or valuation scenario, then ask whether the selected professional-liability part lists that service. [Asset Management Protector](https://www.chubb.com/us-en/business-insurance/asset-management-protector.html), [Chubb Asset Management Protector Premier Policy Guidebook](https://www.chubb.com/content/dam/chubb-sites/chubb-com/us-en/business-insurance/asset-management-protector/pdfs/chubb_asset_management_protector_premier_policy_guidebook.pdf) ## Need Help Choosing Coverage? Spot prepares your applications, coordinates with brokers, and helps you compare quotes so you can choose coverage with the key details in front of you. [Book a Free Consultation](https://cal.com/team/spotinsure/insurance-consultation) [Read the Asset Management Insurance Buying Guide](https://spot.insure/industries/asset-management) ## More Asset Management Questions - [What documents help an insurer review asset access and transfers?](https://spot.insure/industries/asset-management/what-documents-map-asset-access-and-transfers) ## Coverage to Discuss - [Professional errors and omissions (E&O)](https://spot.insure/coverage/professional-errors-omissions) - [Cyber liability](https://spot.insure/coverage/cyber) - [Crime](https://spot.insure/coverage/crime) - [Directors and officers](https://spot.insure/coverage/directors-officers) - [Employment practices liability](https://spot.insure/coverage/employment-practices) ## Sources and Further Reading - [17 CFR § 275.206(4)-2 — Custody of funds or securities of clients by investment advisers](https://www.ecfr.gov/current/title-17/chapter-II/part-275/section-275.206%284%29-2) — 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](https://www.ecfr.gov/current/title-17/chapter-II/part-275/section-275.204-3) — 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](https://content.naic.org/consumer/small-business.htm) — 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](https://content.naic.org/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](https://www.insurance.ca.gov/01-consumers/105-type/95-guides/09-comm/commercialguide.cfm) — 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](https://www.chubb.com/us-en/business-insurance/asset-management-protector.html) — 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](https://www.chubb.com/content/dam/chubb-sites/chubb-com/us-en/business-insurance/asset-management-protector/pdfs/chubb_asset_management_protector_premier_policy_guidebook.pdf) — 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](https://www.ftc.gov/business-guidance/resources/ftc-safeguards-rule-what-your-business-needs-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. 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