Professional Indemnity Insurance for Forex Brokerages
A claim from an unhappy client is not only damaging to one’s reputation, it can cost your forex brokerage a fortune. Professional indemnity insurance protects your business from both. In the event that a client suffers financial loss as a result of alleged neglect, error or omission, professional indemnity insurance will meet the cost of defending claims and any damages payable. Court awards have risen sharply in recent years. Without professional indemnity or brokerage insurance, the financial security of your forex brokerage or investment business is threatened.
Professional indemnity insurance gives you coverage irrespective of whether the claim against you is genuine or not. Depending on the cover for which your forex brokerage or investment business is insured, you are given professional, legal and monetary help, even if you lose. It also serves as an important marketing tool because clients will be more likely to conduct business with you if you have this insurance.
When choosing professional indemnity insurance, it is important to consult an experienced and reliable advisor who can help you decide the amount and the type of coverage that will be best for your forex brokerage or an investment business.
Contact us to discuss your forex brokerage insurance needs.