FX and CFD traders tend to be heavily retail exposed, and the regulators and courts expect a higher level of professional duty and care when dealing with this type of client. As such, professional liability coverage is compulsory in most jurisdictions, but given the business profile, we concurrently see this coverage purchased alongside Crime, Excess of Loss and Directors’ and Officers’ Liability Insurance.
Broker / Dealer (FX and CFD Traders) Insurance
Trade off your insurance risk
FX and CFD traders tend to be heavily retail exposed, and the regulators and courts expect a higher level of professional duty and care when dealing with this type of client. As such, professional liability coverage is compulsory in most jurisdictions, but given the business profile, we concurrently see this coverage purchased alongside Crime, Excess of Loss and Directors’ and Officers’ Liability Insurance.
While most Broker / Dealers are highly reputable entities, given the aforementioned, regulators and bodies across the globe routinely inspect and oversee your industry which can lead to investigation costs even when no actual wrongdoing has occurred.
What we bring to your business
An exclusive ‘Lockton Pioneers Protection’ policy wording which includes industry specific policy enhancements, combining separate policy coverages into one streamline solution
Lockton’s global presence provides us with an enhanced regulatory oversight, and the ability to service your account where you wish to grow
Our policies include Professional Indemnity insurance which is compulsory in many jurisdictions for broker/dealers. So no matter what country you are in, we have you covered
Our knowledge and product base caters to all of your insurance needs ranging from tech errors and omissions, generic professional indemnity cover, fraud insurance and excess of loss
Our Excess of Compensation Scheme policy is designed to help you to protect your clients funds over the compensation scheme limit, giving you a competitive edge.
Our team includes product specialists including experience underwriting broker/dealers
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Broker/Dealers Insurance FAQs
What protection should I purchase?
Given the retail exposure and increased risks of third-party liability claims, and/or investigation costs we would recommend purchasing at a minimum Directors’ and Officers’ Liability and Professional Indemnity.
We would also recommend purchasing fraud and Excess of Compensation Scheme cover, to ensure that you have a comprehensive insurance programme that aligns with your risk management strategy.
We have established subsidiaries to capitalise on both the local customer base and markets in other countries, but would our policy with you contemplate our international operations?
Yes, our policy was designed with that in mind, which is why we have a both a comprehensive definition for Subsidiary as well as a broad New Companies extension.
Our fintech team
Joanne Alamango
CEO - Malta
joanne.alamango@lockton.com
Maria Farrugia
Associate
maria.farrugia@lockton.com
Sonia Micallef ACII
Account Executive - Malta
sonia.micallef@lockton.com
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We bring creative thinking and an entrepreneurial spirit to the insurance business and are uniquely positioned to help you succeed.
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