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Personal Coverage

Coverage A

Key Highlights of 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

Cyber/Privacy & Network Coverage Now Included!

  • $25,000 limits for Cyber/Privacy & Network coverage are now included in your coverage at no extra cost.
  • $50,000 limits for Cyber/Privacy & Network coverage can also be purchased as an add-on to your standard coverage.

Financial Divorce Specialist Coverage
Previously only available under Coverage B services relating to Financial Divorce Specialist are now also included within Coverage A.

Coverage also applies to services provided on a fee basis within the scope of a Certificate Holder’s licensing and designations.

Limits & Policy Aggregate

Available limits are $1,000,000; $2,000,000; $3,000,000; $4,000,000 or $5,000,000 per claim (single limit aggregate per policy period applies to each Certificate of Insurance).


New – Zero deductible for Life and Mutual Fund claims!

Why pay twice for your E&O (when you purchase coverage, then when you make a claim)?

Defence Costs

For coverage limits of $1M and $2M Defence Costs will be outside the Limit of Liability to a maximum of $1,000,000.

For coverage limits of $3M, $4M, and $5M Defence Costs will be within your Limit of Liability with no maximum.


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 APA E&O Plan does not apply to any claim or to 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

Special Extended Claims Reporting

The policy also allows dually 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.

Example: "Joe Agent" is licensed for Life Insurance and Mutual Funds. In the instance that he decides to give up his life license (in order to pursue the Mutual Fund business), as long as he maintains his APA E&O Plan insurance in force, he will be covered for any claims reported. Additionally, when he eventually ceases practice, he can purchase an Extended Reporting Period ("ERP") option.

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.

Key Highlights of Coverage A – Alberta

April 1, 2006 Alberta Legislation

The APA E&O Plan addresses the minimum requirements which must be included in an E&O policy in order to comply with section 465 of the Insurance Act and Sections 33 through 36 of the Insurance Agents and Adjusters regulation, AR 122/2001.

Alberta licensed agents who have purchased Coverage A through this plan are compliant.

AIC Filing

We have filed a current list of all Alberta licensed agents insured by this plan with the AIC (Alberta Insurance Council). Every effort has been made to ensure a complete listing has been filed with the AIC. However, in the event you are insured under the APA programme but still receive notice from the AIC that you are not compliant, please immediately fax or email a copy of your certificate and the notice from the AIC to ABS Inc. and we will address the issue with the AIC to ensure their files are updated appropriately.


2017/2018 Policy Year (effective for dates May 1 2017 to April 30 2018)