Clients don't trust you? Here's a perfect product to pitch

Berkley FinSecure says its anti-embezzlement policy is a first

Mar 13, 2019 @ 2:01 pm

By InvestmentNews

For advisers who are licensed to sell insurance and are great salespeople, but believe their clients and prospects don't trust them, a Towson, Md.-based insurance company has come up with what may be the perfect product: anti-embezzlement insurance.

Berkley FinSecure says its new Capital Shield policy is the "first and only" insurance product that covers individuals for embezzlement of their invested assets.

(More:Remember Bernie Madoff? Big time financial fraud is back)

"It helps protect a nest egg in the event of embezzlement by an investment adviser or asset manager, and gives an investor peace of mind," said Sean Missal, the firm's chief underwriting officer.

Policies have a $10 million coverage limit, the company said in a release.

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