--- title: "Insurance Buying Guide for Asset Managers and Investment Advisers" description: "Match your advisory work, fund structure, asset controls, and vendors to insurance quote questions." canonical: "https://spot.insure/industries/asset-management" page-type: "industry-guide" 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) # Insurance Buying Guide for Asset Managers and Investment Advisers [Fintech](https://spot.insure/industries/fintech) Describe your advisory services, fund entities, asset controls, and key vendors. Ask which are named in the quoted coverage parts. [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) ## 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)](https://spot.insure/coverage/professional-errors-omissions) **When it matters:** You advise clients, manage portfolios, value assets, or administer funds. [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) **What to review:** Professional-liability wording may define financial services and exclusions specifically; describe the work you actually perform. [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) **Ask:** Does the selected part list these services, and how would it treat an investment-loss, valuation, or regulatory inquiry, including defense costs and exclusions? [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) ### [Cyber liability](https://spot.insure/coverage/cyber) **When it matters:** You store investor or portfolio data or depend on outside administrators, custodians, or cloud services. [Insurance Topics | Cybersecurity](https://content.naic.org/insurance-topics/cybersecurity) **What to review:** NAIC says cyber policies are highly customized; identify your own systems and vendors for the quote. [Insurance Topics | Cybersecurity](https://content.naic.org/insurance-topics/cybersecurity) **Ask:** How does the proposal treat a breach or outage at those providers, response costs, and any sublimits or waiting periods? [Insurance Topics | Cybersecurity](https://content.naic.org/insurance-topics/cybersecurity) ### [Crime](https://spot.insure/coverage/crime) **When it matters:** Staff can instruct transfers, change payment details, approve withdrawals, or access assets. [Commercial Insurance Guide](https://www.insurance.ca.gov/01-consumers/105-type/95-guides/09-comm/commercialguide.cfm) **What to review:** Ask the broker whether the proposed form addresses employee actions involving client assets or transfer instructions. [Commercial Insurance Guide](https://www.insurance.ca.gov/01-consumers/105-type/95-guides/09-comm/commercialguide.cfm) **Ask:** Which people, assets, instructions, and direct-loss conditions are included in the proposed wording? [Commercial Insurance Guide](https://www.insurance.ca.gov/01-consumers/105-type/95-guides/09-comm/commercialguide.cfm) ### [Directors and officers](https://spot.insure/coverage/directors-officers) **When it matters:** A fund, manager, director, or officer could face a governance claim. [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) **What to review:** Private-company and private-fund parts may address different entities and people. [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) **Ask:** Who is insured under each selected part, and what limits, retentions, defense costs, and exclusions apply? [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) ### [Employment practices liability](https://spot.insure/coverage/employment-practices) **When it matters:** You hire staff or change compensation across funds, entities, or states. [Small Business Insurance](https://content.naic.org/consumer/small-business.htm) **What to review:** Employment-practices coverage concerns employment allegations; identify the employing entities and worker groups. [Small Business Insurance](https://content.naic.org/consumer/small-business.htm) **Ask:** Which employment claims, workers, defense costs, and exclusions does the proposed form address? [Small Business Insurance](https://content.naic.org/consumer/small-business.htm) ## 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) ## 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. [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) Separate examples of advice or valuation claims, data incidents, asset transfers, and governance demands. These activities may be addressed by different policy parts. [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) ## 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. [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) ## Update the Quote as the Fund Changes A new fund, general partner, investment strategy, or administrator changes the risk picture. Send the change to the insurer and check that the issued declarations reflect it. [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) ## Providers to Compare by Coverage These providers document the coverage listed below. Examples are alphabetical, not a ranking or confirmation that your business qualifies. Scores describe the provider, not an individual policy. ### Professional errors and omissions (E&O) #### [Alliance Risk](https://spot.insure/insurance-providers/alliance-risk) **Spot Score** Broker Spot Score: 5.8 / 10 (75% of rubric assessed). Assessed 2026-09-22. [Assessment Scope](https://spot.insure/insurance-providers/alliance-risk/reliability) **Review Score** Not enough ratings. [Review Sources and Method](https://spot.insure/insurance-providers/alliance-risk/reviews) [Professional Liability Insurance](https://joinalliancerisk.com/professional-liability-business-insurance/) #### [Amelia Risk](https://spot.insure/insurance-providers/amelia-risk) **Spot Score** Broker Spot Score: 5.1 / 10 (15% of rubric assessed). Assessed 2026-09-22. [Assessment Scope](https://spot.insure/insurance-providers/amelia-risk/reliability) **Review Score** 2.0 / 10 (1 rated source). [Review Sources and Method](https://spot.insure/insurance-providers/amelia-risk/reviews) [Insurance For Startups](https://ameliarisk.com/specialties/startups/) · [Insurance Policies](https://ameliarisk.com/insurance-policies/) #### [At-Bay](https://spot.insure/insurance-providers/at-bay) **Spot Score** Broker Spot Score: 5.2 / 10 (15% of rubric assessed). Assessed 2026-09-23. [Assessment Scope](https://spot.insure/insurance-providers/at-bay/reliability) Carrier & MGA Spot Score: 7.1 / 10 (30% of rubric assessed). Assessed 2026-09-23. [Assessment Scope](https://spot.insure/insurance-providers/at-bay/reliability) **Review Score** 9.5 / 10 (2 rated sources). [Review Sources and Method](https://spot.insure/insurance-providers/at-bay/reviews) [MPL Insurance: Coverage Highlights & Appetite](https://www.at-bay.com/insurance/mpl/) · [Licenses](https://www.at-bay.com/licenses/) ### Cyber liability #### [Alliance Risk](https://spot.insure/insurance-providers/alliance-risk) **Spot Score** Broker Spot Score: 5.8 / 10 (75% of rubric assessed). Assessed 2026-09-22. [Assessment Scope](https://spot.insure/insurance-providers/alliance-risk/reliability) **Review Score** Not enough ratings. [Review Sources and Method](https://spot.insure/insurance-providers/alliance-risk/reviews) [Cyber Liability Insurance: Costs, Limits & What You'll Pay](https://joinalliancerisk.com/cyber-liability-insurance/) · [Alliance Products](https://joinalliancerisk.com/coverages/) #### [Amelia Risk](https://spot.insure/insurance-providers/amelia-risk) **Spot Score** Broker Spot Score: 5.1 / 10 (15% of rubric assessed). Assessed 2026-09-22. [Assessment Scope](https://spot.insure/insurance-providers/amelia-risk/reliability) **Review Score** 2.0 / 10 (1 rated source). [Review Sources and Method](https://spot.insure/insurance-providers/amelia-risk/reviews) [Cyber Liability](https://ameliarisk.com/insurance-policies/cyber-liability/) · [Insurance For Startups](https://ameliarisk.com/specialties/startups/) #### [At-Bay](https://spot.insure/insurance-providers/at-bay) **Spot Score** Broker Spot Score: 5.2 / 10 (15% of rubric assessed). Assessed 2026-09-23. [Assessment Scope](https://spot.insure/insurance-providers/at-bay/reliability) Carrier & MGA Spot Score: 7.1 / 10 (30% of rubric assessed). Assessed 2026-09-23. [Assessment Scope](https://spot.insure/insurance-providers/at-bay/reliability) **Review Score** 9.5 / 10 (2 rated sources). [Review Sources and Method](https://spot.insure/insurance-providers/at-bay/reviews) [Cyber Insurance Coverage & Policy Highlights](https://www.at-bay.com/insurance/cyber/) · [Licenses](https://www.at-bay.com/licenses/) ### Crime #### [Alliance Risk](https://spot.insure/insurance-providers/alliance-risk) **Spot Score** Broker Spot Score: 5.8 / 10 (75% of rubric assessed). Assessed 2026-09-22. [Assessment Scope](https://spot.insure/insurance-providers/alliance-risk/reliability) **Review Score** Not enough ratings. [Review Sources and Method](https://spot.insure/insurance-providers/alliance-risk/reviews) [Crime Insurance](https://joinalliancerisk.com/crime-insurance/) · [Alliance Products](https://joinalliancerisk.com/coverages/) #### [Amelia Risk](https://spot.insure/insurance-providers/amelia-risk) **Spot Score** Broker Spot Score: 5.1 / 10 (15% of rubric assessed). Assessed 2026-09-22. [Assessment Scope](https://spot.insure/insurance-providers/amelia-risk/reliability) **Review Score** 2.0 / 10 (1 rated source). [Review Sources and Method](https://spot.insure/insurance-providers/amelia-risk/reviews) [Insurance For Startups](https://ameliarisk.com/specialties/startups/) · [Insurance For Technology Companies](https://ameliarisk.com/specialties/technology/) #### [Beazley](https://spot.insure/insurance-providers/beazley) **Spot Score** Broker Spot Score: 6.9 / 10 (30% of rubric assessed). Assessed 2026-09-23. [Assessment Scope](https://spot.insure/insurance-providers/beazley/reliability) Carrier & MGA Spot Score: 5.5 / 10 (45% of rubric assessed). Assessed 2026-09-23. [Assessment Scope](https://spot.insure/insurance-providers/beazley/reliability) **Review Score** 5.6 / 10 (1 rated source). [Review Sources and Method](https://spot.insure/insurance-providers/beazley/reviews) [Crime and Fidelity](https://www.beazley.com/en-us/products/executive-risk-usa/fidelity-and-crime) ### Directors and officers #### [Alliance Risk](https://spot.insure/insurance-providers/alliance-risk) **Spot Score** Broker Spot Score: 5.8 / 10 (75% of rubric assessed). Assessed 2026-09-22. [Assessment Scope](https://spot.insure/insurance-providers/alliance-risk/reliability) **Review Score** Not enough ratings. [Review Sources and Method](https://spot.insure/insurance-providers/alliance-risk/reviews) [Directors & Officers Insurance (D&O)](https://joinalliancerisk.com/directors-officers-insurance-do/) · [Management Liability Insurance: How D&O, EPLI, and Fiduciary Fit Together](https://joinalliancerisk.com/management-liability-insurance/) #### [Amelia Risk](https://spot.insure/insurance-providers/amelia-risk) **Spot Score** Broker Spot Score: 5.1 / 10 (15% of rubric assessed). Assessed 2026-09-22. [Assessment Scope](https://spot.insure/insurance-providers/amelia-risk/reliability) **Review Score** 2.0 / 10 (1 rated source). [Review Sources and Method](https://spot.insure/insurance-providers/amelia-risk/reviews) [Directors and Officers Liability](https://ameliarisk.com/insurance-policies/directors-and-officers/) · [Podcast Episode – Beyond The Certificate With Startup CPG](https://ameliarisk.com/blog/beyond-the-certificate/) #### [Beazley](https://spot.insure/insurance-providers/beazley) **Spot Score** Broker Spot Score: 6.9 / 10 (30% of rubric assessed). Assessed 2026-09-23. [Assessment Scope](https://spot.insure/insurance-providers/beazley/reliability) Carrier & MGA Spot Score: 5.5 / 10 (45% of rubric assessed). Assessed 2026-09-23. [Assessment Scope](https://spot.insure/insurance-providers/beazley/reliability) **Review Score** 5.6 / 10 (1 rated source). [Review Sources and Method](https://spot.insure/insurance-providers/beazley/reviews) [D&O - Private Companies](https://www.beazley.com/en-US/products/executive-risk-usa/do-private-companies/) · [Execuguard (Combined EPL, D&O, and Fiduciary)](https://www.beazley.com/en-us/products/executive-risk-usa/execuguard-combined-epl-do-and-fiduciary) ### Employment practices liability #### [Alliance Risk](https://spot.insure/insurance-providers/alliance-risk) **Spot Score** Broker Spot Score: 5.8 / 10 (75% of rubric assessed). Assessed 2026-09-22. [Assessment Scope](https://spot.insure/insurance-providers/alliance-risk/reliability) **Review Score** Not enough ratings. [Review Sources and Method](https://spot.insure/insurance-providers/alliance-risk/reviews) [Employment Practices Liability (EPLI)](https://joinalliancerisk.com/employment-practices-liability-insurance-epli/) · [Management Liability Insurance: How D&O, EPLI, and Fiduciary Fit Together](https://joinalliancerisk.com/management-liability-insurance/) #### [Amelia Risk](https://spot.insure/insurance-providers/amelia-risk) **Spot Score** Broker Spot Score: 5.1 / 10 (15% of rubric assessed). Assessed 2026-09-22. [Assessment Scope](https://spot.insure/insurance-providers/amelia-risk/reliability) **Review Score** 2.0 / 10 (1 rated source). [Review Sources and Method](https://spot.insure/insurance-providers/amelia-risk/reviews) [Employment Practices Liability (EPL)](https://ameliarisk.com/insurance-policies/employment-practices-liability-epl/) · [Insurance For Startups](https://ameliarisk.com/specialties/startups/) #### [Beazley](https://spot.insure/insurance-providers/beazley) **Spot Score** Broker Spot Score: 6.9 / 10 (30% of rubric assessed). Assessed 2026-09-23. [Assessment Scope](https://spot.insure/insurance-providers/beazley/reliability) Carrier & MGA Spot Score: 5.5 / 10 (45% of rubric assessed). Assessed 2026-09-23. [Assessment Scope](https://spot.insure/insurance-providers/beazley/reliability) **Review Score** 5.6 / 10 (1 rated source). [Review Sources and Method](https://spot.insure/insurance-providers/beazley/reviews) [Employment Practices Liability](https://www.beazley.com/en-US/products/executive-risk-usa/employment-practices-liability/) · [Execuguard (Combined EPL, D&O, and Fiduciary)](https://www.beazley.com/en-us/products/executive-risk-usa/execuguard-combined-epl-do-and-fiduciary) Review Scores average eligible source ratings, including approximate BBB grade conversions; they are not pooled customer ratings. [How Spot Scores Work](https://spot.insure/spot-rating). ## Common 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. [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) [Read the full answer](https://spot.insure/industries/asset-management/what-documents-map-asset-access-and-transfers) ### 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) [Read the full answer](https://spot.insure/industries/asset-management/does-form-adv-show-eo-coverage) ## Related Verticals - [Banking and Exchange](https://spot.insure/industries/banking-and-exchange): A practical guide to separating customer-asset duties, market operations, technology services, and bond questions before requesting quotes. - [Consumer Finance](https://spot.insure/industries/consumer-finance): A guide for consumer lenders, account servicers, and finance platforms to prepare insurance questions about services, data, fraud, and partner contracts. - [Credit and Lending](https://spot.insure/industries/credit-and-lending): A practical guide to quote questions for lenders and servicing platforms as their products, borrowers, data, and partner roles change. - [Insurance and Insurtech](https://spot.insure/industries/insurance): A practical guide to insurance quote questions for software vendors, agencies, program administrators, and companies with delegated insurance functions. - [Payments](https://spot.insure/industries/payments): A practical guide to insurance quote questions for processors, wallets, payment infrastructure, and businesses that move funds. ## 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. [Editorial Policy](https://spot.insure/editorial-policy). ## Agent and Developer Resources - [Markdown page](https://spot.insure/industries/asset-management.md) - [Developer resources](https://spot.insure/developers) - [Public MCP server](https://spot.insure/mcp) - [MCP server manifest](https://spot.insure/server.json) - [OpenAPI description](https://spot.insure/openapi.json) - [Public page index](https://spot.insure/llms.txt)