The Financial Institutions practice group is committed to working with established firms, start-ups, and breakaways within the financial community to identify their specific insurance needs and assist with risk solutions. We use our well-established market relationships to secure options for coverage that mitigates the risk of operating as a business.

The Financial Institutions Practice Group of Starkweather & Shepley Insurance Brokerage, Inc. provides “hands-on” service to ensure high quality and competitively priced coverage options to address your firm’s individual risk management needs.

Dedicated to growth and knowledge of the industry and current trends, our nationally renowned personnel offer independent, tailored and unbiased insurance advice to give our clients peace of mind.

For more information, contact Jessica Thayer directly by phone 401-435-3600 Ext. 2645 or Email

Our Practice Group focuses on the following sectors:

Investment Advisers
Private Equity
Hedge Funds
Private Funds
Securities Broker – Dealers
Mutual Fund Groups
Banks/Credit Unions

White Papers:

Read the Whitepaper Mitigating Risk as you Consider Incorporating Digital Assetts

Read the Article on Claims Scenarios

Read the Article "How Insurance is Important to Your Compliance Program"

Read the Whitepaper 10 Considerations for Managing Risk with Professional Liability Insurance

Read the Article How one Small Click Led to Big Headaches for Tax and Accounting Firms

Visit SS Financial on LinkedIn

Explore our Insurance Products:

Errors & Omissions Liability Insurance

Also known as Professional Liability Insurance – protects an entity and its employees against claims made for any actual or alleged negligent act, error or omission, committed in the scope of performing professional services. Coverage includes legal defense costs.

Directors & Officers Liability Insurance

Insurance that protects Directors and Officers, as well as the entity, for allegations of breaches of duty, errors of judgment, failure to supervise, and other wrongful acts. Coverage extends to damages as well as defense costs.

Crime/Fidelity Bonds

Covers insureds for losses incurred from fraudulent and criminal acts by both employees and outside individuals – including loss of funds due to employee theft, breach of your internal systems and fraudulent funds transfers. Policies can be endorsed to add coverage for social engineering scams - since the cause of loss is fraud. A loss would be claimed on your crime policy, provided you added the extension, rather than your cyber policy.

Employment Practices Liability Insurance

Coverage for claims made by employees, former employees, or potential employees regarding discrimination, wrongful termination, sexual harassment, equal pay laws, religion, and other employment-related allegations. This policy can also include coverage for discrimination or harassment from clients or other third parties.

Cyber Risks

Coverage in the event of a data breach of “personally identifiable information” and protects businesses from internet-related risks. Coverage includes notification costs, credit monitoring, public relations expenses and cyber extortion (protection against the damage made by ransomware attacks). The coverage will defend the firm and pay damages if a claim is brought for harm to others as a result of a computer-related wrongful act.

ERISA Bonds

Protects employee benefit plans against loss by acts of fraud or dishonesty. For any fiduciary that manages a pension, profit sharing, or thrift plan or “handles” the assets of such a plan – you are required to obtain this bond under section 412(a) of the federal Employee Retirement Income Security Act of 1974.

Fiduciary Liability

Coverage for anyone acting as a fiduciary of an insured’s in-house ERISA plan - Protects firms and employers assets against fiduciary related claims as a result of the mismanagement of the employee benefit plans.

CCOProtect™

A product tailored specifically for the CCO - Protects the personal assets of the CCO against potential litigation and the expenses associated with a regulatory investigation. Coverage is separate from the firm’s insurance and drops down when the firm can’t or won’t indemnify.

The Front Line of Finance

Meet the Financial Institutions Risk Solutions Team

They provide the best service, you need to have the best team. After all, the strength of an organization is really a sum of its parts. That’s why at Starkweather & Shepley, we take the time not only to assemble the best team, but also to celebrate them. Here are just a few of the faces you’ll meet when you come onboard as a client of our Financial Institutions Risk Solutions Team.

Alicia Warschauer

Account Executive

Alicia had a client with a problem. “He wanted to sell his firm, he has been in talked with several attorneys to help with the M&A, but honestly, he wasn’t sure of their overall intentions, and he felt like no one really had his best interests at heart,” she says. “So, I introduced him to one of the M&A attorneys that we regularly work with. He was delighted by the hands-on treatment he received. And, seven weeks later, he sold his firm for three times what he had anticipated.” This is just one small example of the way that our associates go above and beyond for their clients.

Daniel Galloway

Account Manager

In today’s digitally interconnected world, it’s not unusual to have colleagues, clients, and friends that we only know through email and video calls. And this is all well and good, but sometimes, you just can’t beat a true personal connection. Just ask our associate Daniel. “My colleague and I worked around the clock to service one of our largest accounts,” he said. “This past October, I was able to attend their annual summit and meet everyone on the executive staff in person. It was a wonderful experience getting to meet people who I had only ever been in contact with over the internet. It really put into perspective how important it is to have both a positive personal and professional relationship with the people you represent daily.”

Elizabeth Harrington

Assistant Vice President

Sometimes our relationships get strained. It’s just part of life. But it’s how we handle that strain that sets us apart. Take a lesson from our associate Elizabeth. “A few years ago, I ran the Chicago marathon,” she said. “While in Chicago, I met with a client who, at the time, I felt I had a somewhat strained relationship with. Over lunch, we discussed the marathon, and he was so excited for me and tracked me on the app. As I was approaching the finish line on race day, he sent me an encouraging text message to cheer me on! From that day forward, the relationship changed for the better.” Whether it’s a pre-marathon lunch, or simply a text to see how you’re doing, our associates go the extra distance for our clients.

Lance Law

Assistant Account Manager

One thing that we pride ourselves on at Starkweather & Shepley is how our tight-knit teams are. For Lance, one of our newer team members, he learned this firsthand. “I remember last year during the holidays, everyone on the Financial Institutions Risk Solutions team decided to do a Yankee swap,” Lance recalled. “Everyone got together, and we celebrated the great year we had as a team. But midway through the Yankee swap, when it came time to start choosing what gifts we each wanted, the gloves came off. It was all in good fun, obviously, but that’s when I knew that our team was a tight-knit unit, and one that I wanted to stay part of for a long time.” Whether it’s fighting for our clients, or a little spirited competition amongst ourselves, our teams work as a unit (just keep your head on a swivel during Yankee swap).

Linda Vecoli

Vice President, Account Executive

For most people, talking about the potential financial exposure of their company isn’t a way to spark up a lively conversation. But for the associates who make up our Financial Institutions Risk Solutions team? Well, you’re speaking their language. Just ask Linda. “As an insurance translator, I work with our clients to review their risk management and business details and advise them in the types and terms of coverage they may need to protect the financial stability of their firm in the event of an unexpected loss,” she says. “The language of insurance can be daunting to many—my role is to break it down to plain English.” If you’re lost in insurance translation, let us help you find your way.

Financial Institutions Newsletter Archive

Articles and Publications

Claims Scenarios by Jessica Thayer
COVID-19 Impact- by Jessica Thayer
Mitigating Cybersecurity Risk Via Insurance – by Paul J. Smith
Cyber Risk Keeping Client Information Safe – by Andrew J. Fotopulos & David R. Jacavone
Due Diligence and the Risk Management Process – by Andrew J. Fotopulos
Four Potential Holes in Your E&O Coverage– by Andrew J. Fotopulos
Protecting Your Assets. Twelve factors for RIAs to consider when purchasing E&O insurance – featuring Andrew J. Fotopulos
Risk Management Tip for Financial Advisors – by Andrew J. Fotopulos
The Misnomer About Cyber – by Andrew J. Fotopulos & E.J. Yerzak
The Insurance Weave, Coordinating Coverage and Procedures – by Andrew J. Fotopulos

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Financial Institutions Risk Solutions

Contact Jessica Thayer