Identify every entity and product, who can access or move customer funds, the systems and third parties involved, the states where people work, and whether you provide software, lending, servicing, custody, or payment services.[4][6]
Ask the broker for a written mapping from each scenario to the proposed form, exclusions, conditions, sublimits, waiting periods, and named insureds. Get specific answers about regulatory defense, financial-services exclusions, and assumed contract liability.[3][2]
Read the Fintech Insurance Buying Guide
Sources and Further Reading
- 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 explanations of CGL and other small-business lines; not financial-services wording or a policy form.
- 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 and common property/CGL limitation context; not a fintech response opinion.
- Agencies Issue Final Guidance on Third-Party Risk Management — Office of the Comptroller of the Currency, Federal Reserve Board, and Federal Deposit Insurance Corporation. Joint release, bank third-party relationship lifecycle and fintech examples; accessed 2026-09-28.
Bank-side third-party relationship guidance that can help founders identify partner contract and diligence questions; it does not set vendor insurance requirements.
- FTC Safeguards Rule: What Your Business Needs to Know — Federal Trade Commission. Who must comply and what is a financial institution; accessed 2026-09-28.
FTC activity- and jurisdiction-scoped examples that can help founders describe data and service roles to counsel and an insurer.
- 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 guide for general liability, crime, workers compensation, business interruption, and quote-review examples; California rules stay California-specific.
- Answers to Frequently Asked Questions for Employers — California Department of Industrial Relations, Division of Workers’ Compensation. Who must purchase workers compensation; California rule and owner/officer qualifications; accessed 2026-09-28.
California employer workers compensation requirement and owner/officer eligibility discussion; not a rule for other states.
This guide is general insurance buying education, not legal advice or a coverage opinion. Ask a licensed broker and insurer to review the actual policy wording against your operations and contracts.
Updated 2026-09-28. Editorial Policy
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