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Financial Planning Firms

At Sprezzatura Insurance we believe that according to traditional insurance practices, the level of exposures and risks for financial planning firms are as follows:

Level of Risk Per-Line of Business: Low, Medium & High.

  • Automobile Liability: Medium
  • General Liability: Premises and Operations: Low
  • Professional Liability: High- High fiduciary responsibility for insureds that cater to high net worth clients.
  • Workers’ Compensation: Medium
  • Crime: Low
  • Fire and E.C.: Property: Medium
  • Business Interruption: Low
  • Inland Marine: Medium

Based on ISO, AM Best, and others; recommended class codes for Financial Planning Firms are:

Standard Industrial Classification Manual (SIC) Codes and Classifications

  • 6211 - Security Brokers, Dealers, and Flotation Companies
  • 6282 - Investment Advice
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