Professional Liability Insurance for UBS Financial Adviser

UBS

UBS is a global financial company that deals with a variety of products, including:

• Personal financial advising and wealth management
• Investment banking
• Financial advising to corporations and businesses

UBS offices are located throughout the world, and this company is generally recognized as an industry leader. The company has operated for over a hundred years.

UBS Employees

Not every UBS employee is a financial adviser, but anyone working in the capacity of helping people and businesses manage their wealth must have adequate liability insurance as a safeguard. Remember that clients can not only sue a company you work for, but clients can also sue you as an individual if they feel as though they have been wronged. UBS professionals who should consider obtaining professional liability insurance include:

• Financial Advisors
• Investment Bankers
• Fund Managers
• Wealth Planners
• Any other employee vulnerable to lawsuits

Although standard disclosures are stated - such as making sure that clients understand that certain investments are not guaranteed and may indeed lose value - UBS employees are still vulnerable to lawsuits and other legal problems. Professional liability insurance for UBS financial advisers serving in any guiding, directing, or monetary action planning capacity is a smart idea.

Find Professional Liability Insurance for UBS Financial Advisers

UBS employees should contact their Human Resources Department to see if there is a preferred company for liability insurance. Other UBS employees who already have coverage may be able to recommend a certain insurance company. The main concern when obtaining professional liability insurance for UBS employees should not be finding the cheapest coverage available, but instead should be finding quality coverage at a reasonable price. You get what you pay for when it comes to liability insurance.

Here is a brief listing of companies offering professional liability insurance for employees in the financial field:

• Protection Portfolio is a company that specializes in professional liability insurance for financial advisors and other professionals working within the financial field.
• AON provides professional liability insurance to both individuals and companies. This company is endorsed by The National Association of Insurance and Financial Advisors (NAIFA) and provides competitive rates for coverage.
• Zurich is an insurance company which provides liability insurance to professionals who deal with investments and other financial products. This company offers coverage to a variety of other professionals as well.
• Naplia offers professional liability insurance specifically for financial professionals within the field of investments, financial advisers, and other professionals dealing with money and wealth management.

This is certainly not an exhaustive listing of insurance companies offering professional liability insurance to financial services employees. Plenty of other insurance companies offer first-rate coverage conducive to the needs of investment advisers, portfolio managers, and other financial professionals.

Adequate Coverage

Employees of financial services firms usually have some level of liability insurance coverage provided by their employers, but it may be in the employee's best interest to seek out additional coverage to make sure that all needs are met. Employer-provided coverage may not be sufficient in instances of lawsuits stemming from problems above and beyond errors and omissions. When entering into employment with any financial firm – UBS or otherwise – you must find out what the level of coverage is that is provided to you and then decide how much additional insurance to secure. Talk with employees in similar positions as yours and ask what amount of coverage is recommended. If you belong to a professional organization they may be able to advise you on how much coverage to carry. As with most cases of professional liability insurance, it is often better to be safe than sorry.