Asset & Wealth Management Insurance Coverage Checklist
The coverages an asset & wealth management business may carry — core, prevalent, and situational — why each matters, and the gap most often missed.
Pull out your current policy and check the box next to any coverage you can confirm is already in place — anything unchecked is worth a quick conversation with your advisor. Coverage checklist for wealth management firms and asset managers. Priorities reflect typical exposure; confirm against services and AUM.
Tick each coverage you can confirm you carry — anything left unticked is a good question for your next policy review.
| Have it? | Coverage | Why this business needs it | Priority |
|---|---|---|---|
| Investment Adviser E&O | Covers client claims over advice, trade errors, and billing mistakes. | Core | |
| Directors & Officers | Covers management and regulatory investigation costs. | Prevalent | |
| Fiduciary Liability (ERISA) | Needed if the firm is a fiduciary to retirement plans. | Situational | |
| Crime / Fidelity (incl. Social Engineering) | Covers employee theft and fraudulent wire requests. | Core | |
| Cyber Liability | Covers client-data breaches and required notices under amended Reg S-P. | Core | |
| Employment Practices | Covers claims by advisors and staff. | Prevalent |
The coverage gap most often missed
The most commonly missed gap for this class is trade-error coverage. Some E&O policies limit or exclude trade errors or require proof of negligence, while firms often promise to make clients whole. Firms should confirm how trade errors are covered, add crime coverage for fraudulent wire requests, and keep continuous prior-acts coverage through acquisitions.
Send us the checklist and we'll review your asset & wealth management coverage line by line, then market it across multiple carriers that compete for your account.
Related: Asset & Wealth Management Firm Insurance · Asset & Wealth Management Supplemental (apply) · All coverage checklists
Frequently asked questions
What insurance does an asset & wealth management business need?
The core coverages for an asset & wealth management business are Investment Adviser E&O, Crime / Fidelity (incl. Social Engineering), Cyber Liability. This checklist also lists the prevalent and situational coverages worth considering, with a plain-English note on why each matters.
Is this checklist insurance advice?
No. It is a free educational tool to help you have a more informed conversation with a licensed professional. It affords no coverage and is not insurance, legal, or financial advice — only your actual policy language governs what is and isn't covered.
Can Cory Washington & Co. review my asset & wealth management coverage?
Yes. Share your checklist and we'll review your program line by line, market your account across multiple carriers, and explain the trade-offs in plain English. Cory Washington & Co. LLC is licensed in all 50 states.
This checklist is a free educational tool from Cory Washington & Co. to help you review your own coverage and have a more informed conversation with a licensed insurance professional. It is general information only — not insurance, legal, or financial advice, and not a recommendation to buy, change, or cancel any policy. Coverage terms, availability, limits, and requirements vary by policy, carrier, and state, and only the language in your actual policy governs what is and isn’t covered. Checking or leaving blank any item above does not indicate that you are adequately insured or under-insured. Using this checklist does not create a client, agency, or fiduciary relationship. Always consult a licensed professional about your specific situation.