Program Overview | Experior Financial Group Advisor E&O Insurance Program

Welcome to the Experior Financial Group Inc. Advisor E&O Insurance Program

To All Experior Financial Group Inc. Advisors:

In partnership with our broker The Magnes Group Inc. and our insurer AXIS Reinsurance Company we are pleased to be able to deliver to our valued advisors one of the most competitive and market leading E&O programs the industry has to offer.

Please note that as of January 1, 2018 all advisors holding a valid contract with Experior Financial Group Inc. are required to purchase their E&O insurance under this plan. Subject to the terms and conditions of coverage, some key highlights of the new Experior Financial Group Inc. program are as follows:

  • Limit options of $1,000,000, $2,000,000 and $5,000,000 available
  • 25% discount for Newly Licensed Advisors
  • Coverage extends to any employee of the advisor, including licensed and unlicensed assistants while acting in their duties as such (NOTE: Licensed life assistants are required by the regulator to maintain their own individual E&O insurance limit)
  • Coverage for referral activity automatically included (NOTE: referral fee needs to be disclosed to client for coverage to apply)
  • Coverage extended to advisors for activities relating to sales management and supervisory activities
  • Full policy limits available for investigative regulatory matters
  • Extended Reporting Period (Tail) Coverage – from One Year to Lifetime options available
  • Optional Privacy and Network Security Breach Response Insurance (subject to additional premium)
  • Optional Corporate E&O insurance is available for any advisor firm that requires this coverage (subject to additional premium)

Premiums:

Limit of Liability Annual Premium
Each Claim/Aggregate Life, Accident/Sickness
Only
Life, Accident and Sickness,
Mutual Funds
$1,000,000/$2,000,000 $435 $635
$2,000,000/$2,000,000 $595 $820
$5,000,000/$5,000,000 $1,050 $1,300
Limit of Liability Annual Premium - Newly Licensed
Each Claim/Aggregate Life, Accident/Sickness
Only
Life, Accident and Sickness,
Mutual Funds
$1,000,000/$2,000,000 $326 $477
$2,000,000/$2,000,000 $447 $615
$5,000,000/$5,000,000 $788 $975

Optional Privacy And Network Security Breach Response Insurance

Data security is a paramount exposure in the financial services industry. A breach of data can be ruinous in terms of costs to comply with notification requirements, potential liability claims, and damage to your business reputation. The optional coverage available to Experior Financial Group Inc. advisors addresses these evolving exposures: it protects your business from claims and other exposures resulting from a breach of data security.

Coverage includes:

  • Network Security and Privacy Liability coverage – $100,000 Per Claim/Aggregate
  • Network Security Event Crisis Management Expense – $50,000 Per Claim/Aggregate
  • Regulatory Action Coverage – $50,000 Per Claim/Aggregate
  • Computer System Extortion Expense and Loss Coverage – $50,000 Per Claim/Aggregate

Deductible: $5,000 per claim, where applicable.
Flat rate Premium: $50 plus tax, if applicable.

How To Activate Coverage:

For newly licensed advisors to the industry, enrollment into the Experior Financial Group Inc. advisor E&O program can occur immediately upon licensing completion.

For existing licensed advisors, you are required to transfer your E&O insurance to the Experior Financial Group Inc. Advisor E&O Program prior to your current E&O insurance expiry date.

Let’s Get Started!