• Financial institutions and financial services

    Professional indemnity insurance.

Business Sectors

Professional indemnity insurance for financial institutions and financial services

Financial institutions often have complex insurance needs, so partnering with a knowledgeable and experienced broker is vital. Towergate Professional Indemnity has a dedicated financial institutions team based in our offices in Manchester. There are a small number of specialist insurers active in this space, so having access to both local, London and Lloyds insurers, gives us wide reaching capabilities. For some professions, we also have our own in-house underwriting capability.

Insurance we provide:

Professional indemnity
Provides cover for the firm against claims of negligence, error or omissions. Claims can come from a variety of sources and jurisdictions which can include losses due to advice or negligence in carrying out professional duties.

Directors & Officers
D&O cover protects the directors of the business from claims brought against them as a named person. This cover protects the director against claims they have been negligent in their duties and responsibilities to the company and its stakeholders.

This cover provides protection to the firm against criminal acts committed by employees or third parties such as, theft, fraud, forgery, computer crime and robbery. The cover will indemnify the company against losses incurred through these criminal acts.

Mergers and acquisitions
Warranties and indemnity cover provides protection to either the seller or buyer during mergers and acquisitions transactions. The buyer can arrange a policy to protect them against any falsification or non disclosure in relation to the warranties and indemnities provided by the seller in forming the SPA contract. sellers can also arrange a policy to protect them against claims by the buyer.

We can provide Insurance & Risk management services to the following firms:

  • Hedge Funds
  • Fund Managers & Funds Directors
  • Asset Managers
  • VCTs
  • Mutual Funds
  • Investment Banking
  • Private Equity
  • Venture Capital
  • Investment Managers
  • Consultancy / Advisory Firms
  • Forex
  • Stockbrokers
  • Bespoke consultancy
  • Wealth Management
  • Financial Advisers (IFAs)
  • Mortgage Brokers


The Alternative Investment Fund Managers Directive comes into force in the UK in July 2013. This new legislation imposes a number of changes upon Alternative Investment Fund Managers. This legislation seeks to make professional indemnity insurance compulsory for managers or take other appropriate measures of protection for investors. For more information on this new legislation and to view our PDF document, please click here.


We have access to a range of leading insurers who offer specialist underwriting for financial risks. We only recommend insurers with minimum A-rated financial security ratings and with specialism in writing this niche class of business. We can often arrange for clients to meet with underwriters directly to discuss your insurance requirements. This often helps greatly in the underwriting process and for you to meet directly with insurers.