Coverage A – Details
Coverage B – Details
Coverage C – Details
Coverage D – Details
Coverage P – Details

Coverage A

Insured Services

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
  • Annuities
  • 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 – Now Included!

  • $25,000 limit for Cyber/Privacy & Network coverage are now included at no extra cost.
  • 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).

Deductible

Zero deductible for Life and Mutual Fund claims.

Defence Costs

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.

Territory

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).

Prior Knowledge

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; however, when this policy replaces, without interruption, a policy previously issued by the 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 (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 one to six years and unlimited Extended Reporting 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:

DOWNLOAD FORM

Coverage B

Coverage for activities related to a securities registrant registered with the Investment Industry Regulatory Organization of Canada, including:

  • Securities
  • Mutual Funds *
  • Review Engagements
  • Executor of Estates
  • Notary Public
  • Commissioner of Oaths
  • Fee for Servicing Planning
  • Financial Divorce Specialist & Certified Divorce Specialist

Coverage also applies to services provided on a fee basis within the scope of a Certificate Holder’s licensing and designations.
*Representative registered with IIROC to sell mutual funds.

Limits & Policy Aggregate

Available limits are $1M, $2M, $3M, $4M, $5M, or $10M per claim (single limit aggregate per policy period applies to each Certificate of Insurance).
Please note that Coverage B and Coverage C are subject to a shared $50M policy aggregate for all Certificate Holders.

Deductible

$5,000 per claim.

Defence Costs

For Coverage B, legal Defence Costs and supplementary payments are part of, and not in addition to, the limit of liability selected.

Territory

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).

Prior Knowledge

The E&O program does not apply to any known claim or 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; however, when this policy replaces, without interruption, a policy previously issued by the 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 (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 one to six years and unlimited Extended Reporting coverage under the policy.
For more information, go to Extended Reporting Period Coverage.

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:

DOWNLOAD FORM

Coverage C

Insured Services

Activities provided for a fee relating to financial advice and for which a license is not required.
Activities relating to and including sales management and supervisory activities over individual insureds in reference to the above.
To qualify for coverage under this category the applicant must hold one of the following designations and remain in good standing:

  • Chartered Life Underwriter, CLU®
  • Certified Health Insurance Specialist ,CHS
  • Certified Financial Planner, CFP®
  • Chartered Financial Consultant, CH.F.C.
  • Canadian Investment Management, CIM
  • Fellow of the Canadian Securities Institute, FCSI®
  • Registered Financial Planner, R.F.P.
  • Chartered Financial Divorce Specialist, CFDS
  • Trust & Estate Practitioners, TEP
  • Family Enterprise Advisor, FEA

Limits & Policy Aggregate

Available Limits of Liability are $1M, $2M, $3M, $4M and $5M per occurrence.
Note: Coverage B and Coverage C are subject to a shared $50M policy aggregate for all certificate holders

Deductible

$1,000 per claim

Defence Costs

Legal Defence Costs and supplementary payments are part of, and not in addition to, the limit of liability selected.

Territory

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).

Prior Knowledge

The E&O program does not apply to any known claim or 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; however, when this policy replaces, without interruption, a policy previously issued by the 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 (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 one to six years of Extended Reporting coverage under the policy.
For more information, go to Extended Reporting Period Coverage

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

Acceptance

The above information is only an outline of the coverage provided. Please contact us with any questions. Some restrictions will apply. Acceptance under Coverage C is subject to final underwriter approval.

If you plan to apply for coverage without applying online, please download and print the application form:

DOWNLOAD FORM

Coverage D

Insured Services

Coverage for those activities below, relating to a licensed administrative assistant:

  • Life insurance
  • Annuities
  • Accident & Sickness, hospitalization or medical insurance policies
  • Investments otherwise insured under the policy

Limits & Policy Aggregate

  • $1M per claim / $2M annual aggregate
  • $2M per claim / $2M annual aggregate

Deductible

$1,000 per claim

Defence Costs

Legal Defence Costs and supplementary payments are part of, and not in addition to, the limit of liability.

Territory

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).

Prior Knowledge

The E&O program does not apply to any known claim or 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; however, when this policy replaces, without interruption, a policy previously issued by the 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 (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 one to six years of Extended Reporting coverage under the policy.
For more information, go to Extended Reporting Period Coverage.

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

Acceptance

Special consideration will be given to Licensed Administrative Assistants of a current plan participant upon completion and underwriter acceptance of a supplementary application that outlines duties.
The above information is only an outline of the coverage provided. Please contact us with any questions. Some restrictions will apply. Acceptance under Coverage D is subject to final underwriter approval.

If you plan to apply for coverage without applying online, please download and print the application form:

DOWNLOAD FORM

Coverage P

Cyber & Privacy breaches can have a long-lasting effects on your business. The  client data collected, used and stored by you is one of your business’ most valuable assets. Protecting it requires ensuring it is safeguarded by industry leading solutions such as our Cyber/Privacy & Network Coverage.

  • $25,000 limit for the Cyber/Privacy & Network Coverage is included at no additional cost
  • Up to $250,000 limits for Cyber/Privacy & Network Coverage can be purchased as an addition to your Errors & Omission Liability Coverage