Coverage for activities relating to the conduct of the business of a licensed life agent or licensed accident and/or sickness agent or a representative registered with the Mutual Fund Dealers Association of Canada to sell mutual funds, including:
- Life Insurance
- Accident & Sickness and hospitalization or medical insurance
- Disability and Critical Illness insurance
- Group Benefits
- Pension Plans (including RRSP’s and RRIF’s)
- Personal Income Tax Preparation
- Profit sharing plans
- Segregated Funds
- Mutual Funds
- Term Deposits
- GIC’s (Guaranteed Investment Certificates) offered by financial institutions who participate in a deposit insurance program
- Estate and personal financial planning
- Financial Divorce Specialist Coverage
Cyber/Privacy & Network
- Up to $250,000 limit for Cyber/Privacy & Network coverage can also be purchased as an add-on to your standard coverage.
- Standalone Cyber/Privacy insurance available.
Limits & Policy Aggregate
Available limits are $1M, $2M, $3M, $4M, $5M, $5M plus excess of $5M per claim (single limit aggregate per policy period applies to each Certificate of Insurance).
Zero deductible for Life and Mutual Fund claims.
For coverage limits of $1M and $2M Defence Costs will be outside the Limit of Liability to a maximum of $1M.
For coverage limits of $3M, $4M, $5M, and $10M Defence Costs will be within your Limit of Liability.
Worldwide coverage is provided (subject to the claim being made and brought within Canada, the United States, and its territories and possessions, including the District of Columbia).
The E&O program does not apply to any known claim or to known circumstances which may reasonably result in a claim, whether reported in the application or not, known to any Insured before the effective date of this policy. When this replaces, without interruption, a policy previously issued by that Insurer, this exclusion applies only to claims previously known to an Insured before the inception date of the first policy issued by the Insurer.
Extended Reporting Period Coverage (also referred to as ERP)
Leaving the business? Your exposure to allegations of negligence does not end when you cease practice. You can elect to purchase two to five years or unlimited Extended Reporting Period Coverage under the policy.
For more information, go to Extended Reporting Period Coverage.
Special Extended Claims Reporting
The policy also allows dual licensed agents who relinquish one of their licenses mid-term to be covered for future claims arising from activities under their former business as long as the agent’s policy remains in force.
Discount for Loss Prevention and Control Seminars
Members attending a Loss Prevention and Control/Protect Your Practice Seminar may be entitled to a 5% discount* on their renewal premium for three consecutive years. Contact your local Advocis Chapter for seminar dates.
*Some conditions may apply for members with current or prior claims history.
If you plan to apply for coverage without applying online, please download and print the application form: