Investment and trust companies are just like all businesses in that they face inherent risks. However, there are also risks particular to these types of business and the professionals working for them, which is why we offer investment company and trust company insurance programs tailored to their unique needs, including General Liability, Property, Workers’ Compensation, E&O, Business Auto and more.
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Investment companies combine their customers’ assets and invest them into bonds, stocks or 
securities, which they declare and file with regulatory governmental on behalf of their customers. The customers, also called shareholders, share the profits and losses of their investments with other customers and the investment company. Specific types of investment companies include mutual funds, closed-end funds, exchange-traded funds and unit investment trusts.
Trust companies manage trusts and estates by handling the assets of an individual or organization per a specific agreement. They may also manage the funds of foundations, with the exception of religious, educational, charitable and nonprofit foundations. Trust companies are responsible for keeping records, preparing court accountings, paying bills and medical expenses, giving charitable gifts and distributing inheritances for the person or organization that they are representing.
Businesses that have clients and customers who visit their premises can face liability lawsuits resulting from trip/slip/fall and other injuries. For example, a client who slips and falls on a wet restroom floor could suffer serious injury that requires costly medical expenses including rehabilitation therapy.
Workers’ Compensation risks for employees of such offices are typically limited to injuries due to the repetitive movements during clerical duties, such as carpal tunnel syndrome. Employees can easily be injured when lifting and moving furniture and heavy file boxes, falling from step stools, or slipping and falling.
Also known as Professional Liability Insurance, Errors and Omissions Insurance protects companies and employees and from claims made by clients for errors, incompetent work or negligence. Mistakes made by employees resulting in lost funds to customers could result in liability for the financial institution.
If employees are required to drive vehicles for business purposes, whether owned by the company or the employees, then auto liability risks are a concern. Business auto risk factors can be triggered by drivers under age 25, heavy city traffic conditions, frequent travel over roads that need to be updated, travel over unfamiliar roads, a trip radius over 50 miles, cell phone usage, and night time travel.
As in any office setting, there is a risk of fire occurring or damage to property from severe weather such as flash flooding, tornado or lightening. For example, if a leaky roof resulted in damage computers and furniture, Property Insurance would cover the expensive repair and replacement costs.
Theft by dishonest employees, computer fraud or any financial transaction that is initiated by a hacker can result in monetary loss. Employee embezzlement of funds and theft of office equipment are examples of incidents covered by Crime Insurance.
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