RIA in a Box launches cyber insurance offering

RIA in a Box, a provider of compliance, operations, and registration solutions for the wealth management industry, is partnering with ProWriters and AssetSure to provide RIAs with streamlined access to cyber insurance plans to help protect their firms from financial losses in the event of a cybersecurity breach.

Directly through the MyRIACompliance platform, RIA in a Box clients will have easy access to the ProWriters platform, which populates cyber insurance quotes from multiple carriers based on each firm’s individualized needs. After inputting some basic information, RIAs will receive a customized risk assessment report which they can use when comparing insurance carriers’ prices and features. Through this new feature, RIAs will be able to access quotes from a list of carriers including Axis, At-Bay, CFC, Chubb, Coalition, Corvus, Hiscox, HCC, and Tokio Marine.

Once ProWriters identifies recommended insurance carriers based on a firm’s unique business needs, AssetSure guides RIAs through the process of selecting the carrier, answering any questions, and securing coverage. AssetSure also provides advisors with a client portal to access detailed plan information at the click of a button.

“We are excited to be partnering with RIA in a Box to bring their clients a robust cyber insurance solution that streamlines the process of finding the right plan for their business. Through this partnership, ProWriters is able to provide RIAs with multiple carrier options and support from experts that can help them find the solution that best fits their needs.” – Brian Thornton, President of ProWriters.

“A recent survey we conducted found that 50% of RIA firms either didn’t have cybersecurity insurance or felt their coverage was inadequate. With cybersecurity threats becoming increasingly prevalent, it’s critical that every RIA firm has access to the right cyber insurance coverage. At RIA in a Box, we are committed to ensuring advisors across the country have the resources they need to protect their businesses. Through our partnerships with ProWriters and AssetSure, we continue to provide advisors with the peace of mind they need so they can focus on their clients.” – GJ King, president at RIA in a Box.

Bottom Line: over 1,800 RIAs use RIA in a Box.