Today, we are announcing the release of our next insurance programs: Coverage for Financial Services Professionals.

These professionals, including accountants, bookkeepers, and tax preparers, often face various risks due to the constant navigation of numbers, regulations, client needs, and cyber criminals. Today, we are excited to introduce a transformative solution – our Financial Services Insurance Programs – designed to elevate financial services professionals’ security and peace of mind.

Built on Embroker ONE, Financial Services Professionals can now enjoy an industry-tailored, single-application experience for their professional liability, cyber, and business owners’ risk needs.

Understanding the Unique Needs of Financial Services Professionals

Recognizing that the financial services industry demands specialized protection, our program is built to meet the growing needs of accountants, bookkeepers, and tax preparers. But, to do so, we needed to get to know this industry and its professionals profoundly.

Beyond our extensive market research, we surveyed over 200 professionals to understand their challenges and the protection they truly need. This direct feedback loop has allowed us to tailor our offerings to align seamlessly with their distinctive worries, risks, and requirements.

Some of the data we gathered was striking and helped us choose our core policies for this insurance program. Here’s some of what we found:

Professional Risk

  • 46% of respondents have experienced a situation where an error or mistake in their work has resulted in financial losses/penalties for their company/client
  • 72% of respondents who experienced an accounting work error reported either that either they or their company were held financially responsible

Cyber Risk

  • 67% of respondents report having used their work computer for personal reasons requiring entering their financial information, such as shopping or ordering meals.
  • If a cyber attack were to occur, respondents admit that data would be at risk:
    • My client’s information – 35%
    • Company information – 23%

Employee Risk

  • 38% of respondents believe they are protected in the event of a wrongful termination suit; 29% aren’t sure
  • 54% are concerned about layoffs within the financial sector, following layoffs at major firms

Insurance Knowledge

  • 29% don’t know what type of coverage they have, of any kind
  • 24% believe their company could do more to protect their clients’ data

The Future of Financial Services Professionals Insurance

With the launch of our Financial Services Insurance Programs, we invite you to join a new era in accountant protection. The ease of a single application experience, policies finely tuned to your profession, and the confidence that comes with comprehensive coverage. That’s what Embroker and our ONE platform has to offer.

Check out the full press release here.

And learn more about our Financial Services Professionals’ Insurance Programs here.

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