Understanding E&O Insurance: What Financial Advisors Need to Know with Chad Ramberg (Ep. 10)

Insurance often feels like an afterthought until something goes wrong. Are you confident your coverage actually protects you when it matters most? In this episode, Rossby Financial’s Founder Andrew Evans chats with Chad Ramberg, Founder & President of Box Professional Insurance, about errors and omissions insurance for financial advisors. Chad shares his journey from claims adjuster to financial advisor to insurance specialist, explaining why most advisors misunderstand their coverage. He breaks down the lifecycle of claims, the importance of early intervention, and how group plans may leave advisors exposed. Chad discusses: Why his 20 years on the claims side revealed the problems with generic insurance coverage approaches How claims volume correlates with market downturns and why severity matters more than frequency The importance of calling for help before complaints escalate into formal claims Why default deductibles and aggregate limits may not align with your actual risk exposure How some firms collect more in premiums from advisors than their total coverage provides And more! Connect with Rossby Financial:  (321) 209-0111 Website: Rossby Financial Website: ROffice LinkedIn: Rossby Financial Instagram: @rossby_wealth Connect with Andrew Evans:  LinkedIn: Andrew Evans Email: [email protected]  Connect with Chad Ramberg:  LinkedIn: Chad Ramberg Website: Box Professional Insurance [email protected]  About Our Guest:  Chad Ramberg has over 25+ years of experience in management, including GM/Director and Controller positions. For the initial decades of his career, he held leadership positions in the claims division of the insurance industry. As his career in the claims sector drew to a close, he opted to channel his financial acumen into becoming a registered investment advisor. During his tenure as an advisor, he gained a profound respect for the day-to-day challenges RIAs face. Changing course, Chad discovered that he could make a more significant contribution to the financial services community by becoming an insurance advisor to advisors. Now, Chad has the privilege of engaging with advisors across the country, meeting their needs so they can focus on what they do best. When Chad is not working, you may find him experiencing the great outdoors with his family, where he may be camping, hiking or riding through the mountains.