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Personal Coverage

New for the 2017/2018 Master Policy Year

The Advocis Protective Association is proud to announce the new 2017/2018 Master Policy year and with it continuing to provide superior and comprehensive Errors & Omissions Insurance coverage that meets your needs as a professional financial advisor

The new Master Policy year will begin May 1, 2017

Highlights for coverage with effective dates on or after May 1, 2017:

  1. New Insurer!
    • The APA has shopped the market for the best available E&O carriers and effective May 1, 2017 the APA Individual E&O Program will be underwritten by Zurich Insurance Company Ltd
    • This new partnership will allow the APA to continue to grow both in coverage options and as Canada’s leading E&O Insurance program for financial advisors
    1. No Change in Premium Rates
      • Even in this challenging market for E&O carriers the APA has held premium rates ‘as is’ for the fourth year in a row!
    2. But your decision in choosing an E&O provider is based on more than just price!

      • Coverage A – Life/Mutual Funds (MFDA)
        • Personal Income Tax Preparation coverage is now included
        • Financial Divorce Specialists Coverage is also now included
        • Cyber/Privacy Coverage Included
          • Expanded Liability Limits are also now available in limits of $50,000; $100,000; and $250,000
      • Coverage C – Fee for Service Planners
        • Higher Limits of Liability now available!
        • Limits extending to $3,000,000; $4,000,000; and $5,000,000
      • Automatic Extended Reporting Period Coverage
        • Automatic 2 Year ERP Coverage at no cost applicable to retiring agents or disability/death only
      • Increased Extended Reporting Period Coverage
        • UNLIMITED ERP policy period now available!
      • Enhanced Cyber/Privacy Coverage
        • Basic limits automatically included with your E&O Coverage
        • Enhanced coverage now expanded to include
          • Security and Privacy Liability
          • Regulatory Proceedings Coverage
          • Privacy Breach Costs Coverage
          • Cyber Extortion Threat Coverage
          • Reward Payments Coverage

      Reporting Potential Claims Before Your Renewal

      Before renewing your coverage with APA you MUST report any potential claim or situation that may give rise to a future claim.
      Claims reporting must be made to the appropriate program insurer or coverage could be denied.
      Any potential claim or situation which may give rise to a claim that you are aware of before the date of your renewal must be reported to Liberty Mutual – the insurer of the APA program for the 2016/2017 Policy Period ending April 30, 2017.

      Reporting potential claims will not affect your future coverage or your current renewal – we urge our members to report any potential claim or situation which may give rise to a claim prior to their renewal to ensure that coverage will be afforded without undue complications or potential denial of coverage.

      If you are unsure of a situation speak with Advocis Broker Services Representative before your renewal