The current fiduciary liability insurance market is challenging, with some financial professionals finding it impossible to get coverage they can afford. To help provide a path forward, Lockton Affinity’s Tom Schrandt joins Josh Itzoe, CFP®, AIF®, on a recent episode of The Fiduciary U™ Podcast.
Tom is a Vice President, Partner and Producer at Lockton Affinity, where he leads the Lockton Affinity Advisor Insurance Program specializing in insurance solutions for financial professionals. Josh is Founder and CEO of FiduciaryWorks and host of the popular Fiduciary U™ Podcast.
In the episode, Tom and Josh discuss the challenges financial professionals face when shopping for insurance, strategies for reducing your risk as an advisor, and the importance of having the right Errors & Omissions (E&O) Liability Insurance, with coverage that meets ERISA standards and covers you for your fiduciary duties.