How to Evaluate Your RIA E&O Insurance Agency
1. How many RIAs does the Agency insure?
Golsan Scruggs currently insures over 2,000 RIA firms nationally.
2. How many years has the Agency been in the business and how many dedicated personnel serve the RIA industry?
The Golsan Scruggs team has served RIAs for over 25 years and is made up of 17 dedicated professionals.
3. What access does the Agency have to the marketplace?
Golsan Scruggs has over 30 direct insurance market appointments, access to the entire RIA specialty placement markets, and proprietary underwriting partnership forms and endorsements.
4. What is the total volume of written premium within the RIA space by the Agency?
Golsan Scruggs has written over $80MM in insurance premiums for RIAs over the past decade.
5. How many RIA claims has the Agency navigated for their clients?
Golsan Scruggs has navigated dozens of RIA claims which take many different shapes and sizes. This is where the “rubber meets the road”. Make sure your agent and agency have a deep well of claims management experience.
6. Who are among the referral partners of the Agency?
Golsan Scruggs is an approved solutions provider to Charles Schwab, TD Ameritrade, Pershing Advisor Services, Interactive Brokers, Fidelity, and over 20 distinct RIA compliance firms.
7. How many insurers/markets provide specialized/proprietary terms to the Agency? Golsan Scruggs has constructed suites of special and exclusive contract terms for our clients with multiple leading insurance carriers.
8. What is the Agency’s underwriting process (i.e. technology ease of application, etc.)?
Golsan Scruggs has built a proprietary online application accepted by all underwriters/insurers dramatically improving the application and renewal process.
9. What possible conflict-of-interest may be present within the Agency firm’s overall business (i.e. might the overall operating company’s business include financial planning and/or investment advice)?
Golsan Scruggs does not operate nor affiliate with any investment advisory operations. We do not compete with the clients we serve which means you can have confidence that we will handle your firm’s sensitive information appropriately.
10. What possible underwriting conflict-of-interest may be present (i.e. agency or platform represents and sells only one specific E&O insurance program)?
Golsan Scruggs is a completely independent insurance agency and is not beholden to any single carrier or “program”. We work for our clients and not for the insurers.
