Error & Omissions Insurance?

Discussion in 'Professional Trading' started by heech, Mar 8, 2010.

  1. heech



    I'm just curious whether anyone in the business of managing other people's money has purchased E&O insurance? Is this a good idea over all... is it even possible?

    And if anyone has any good contacts in the insurance business, I'd love a referral. Thanks!
  2. I have it for a manufacturing business.

    I think its through southwest insurance...

    Can get expensive if your get bigger.

    Might try purchasing it through a money managers association or something similar..
  3. Post your question in one of the insurance-related forums at LinkedIN-Answers. :cool:
  4. heech


    Good thought!
  5. Maybe when you lose, you'll file for the "error" or clicking buy when you meant short?

  6. heech


    I'm more concerned about someone suing me over that kind of an error.
  7. It makes more sense to see what other money managers are doing. Insurance companies are unlikely to have a clue.
  8. Ya also, you would need a good lawyer to discuss in depth your responsibilities, and their limits to your investors as well...
  9. You'll be sued for the losses you will generate.
    Which brings us back to the long/short "error" insurance.
  10. E&O insurance has nothing to do with trading errors!
    #10     Mar 20, 2010