WINDSOR, Conn.--(BUSINESS WIRE)--Business Risk Partners (BRP) announced today its expansion in the financial services sector with the addition of two hard-to-find specialty insurance coverages: miscellaneous professional liability insurance for a broad range of lenders, advisors and financial entities as well as a comprehensive policy for registered investment advisors.
“Understanding the financial service sector’s risks has become challenging in recent years due to an evolving regulatory environment, changing technologies that include crowdfunding and crypto currencies, and the rise of alternative lenders,” said Vincent Cisternino, a former financial services analyst turned specialty insurance underwriting manager who now leads BRP’s financial institutions practice. “These changes along with the higher expectations clients and investors have of their service providers have made litigation more commonplace,” Cisternino added.
BRP’s miscellaneous professional liability product is offered to a broad array of institutions in more than 80 classes of business from asset-backed lenders to financial consultants, financial technology firms to real estate investors. Backed by an A-rated carrier, the policy provides up to $5 million in coverage for firms in the small or middle market space.
BRP is also rolling out D&O, E&O, EPLI, Fiduciary, and Bond and Cyber coverages for registered investment advisors. Broad coverage is available for many types of specialized investments, including REITs, Limited Partnerships, Private Placements and Merger & Acquisition activity. Agents can customize the product to meet client needs, securing all offerings or selecting only a few.
The firm already offers similar a-la-carte and packaged policies for banks and a wide variety of broker dealers.
“We’re very excited about our facility’s offering since there are very few providers currently servicing this market. BRP is truly meeting a need that we believe our trading partners are looking for,” said Lisa Doherty, BRP’s CEO and president.
About Business Risk Partners
Founded in 2000, Business Risk Partners is a specialty insurance underwriter and program administrator committed to creating long-term mutually-profitable partnerships through superior service and teamwork. Partnering with top global carriers and using proprietary technology, BRP offers a wide variety of professional liability, management liability, data breach/privacy and hybridized specialty solutions to agents and brokers serving middle market customers nationwide. BRP's underwriting specialists are often commended on their ability to turn complicated risks around in 24 hours. Proprietary technology enables real-time quote, bind, issue and servicing and is seen by many as one of the best in the business. Privately held and based in Windsor, Connecticut, BRP is the recipient of the prestigious Best Practices Designation from the Target Markets Program Administrators Association (TMPAA). For more information, visit www.BusinessRiskPartners.com.