E&O Insurance for RIA in a Box LLC

Errors and Omissions Insurance Program for RIA in a Box LLC INDIVIDUAL RIAS & ADVISORS

Apply for RIA in a Box LLC E&O Insurance Renew   Policy   Policy 11/01/2018 to 11/01/2019   E&O Renewal Reminder

Pricing Information  •   Program Eligibility  •   Program Features  •   Deductibles and Retentions  •   Payment Options  •   Policy Exclusions  •   Underwriter  •   Disclosures  •   Program Administrator

E&O Program Introduction

  • 360 Coverage Pros provides a comprehensive Errors & Omissions insurance program exclusively for customers of RIA in a Box.

About This Coverage

  • Important State Amendatory Endorsements
  • 360 Coverage Pros is proud to bring outstanding E&O coverage at competitive prices to RIA in a Box Investment Advisor customers selling and servicing securities products and/or advising their clients on a fee based arrangement. With tailored coverage, multiple limit options, easy online enrollment, instant certificate, and flexible payment options, we've taken the hassle out of traditional securities E&O programs without sacrificing quality or service.

Pricing Information

$1 Million per claim / $1 Million annual aggregate
Errors and Omissions Insurance For Individual Investment Advisors
Effective Date Pay In Full or Down Payment w/ Monthly Payment
01/01/19 Apply today for $1,117.00 $134.75 $94.75
   View more limit, coverage and pricing options
  • Pricing shown above is for the RIAs earning less than $125,000 in gross annual revenues and is based on a coverage limit of $1,000,000 per claim / $1,000,000 annual aggregate.
  • Prices includes a $40.00 administrative fee. Down payment refers to the monthly payment option. Your down payment includes one month's premium, administrative fees and a $5.00 monthly processing fee. Down payments will be processed immediately; monthly deductions as shown above will begin on the 3rd business day of the month after the enrollment effective date.
  • At the time of enrollment, each agent will be required to make a non-refundable payment in the amount of the first month’s premium (minimum earned premium). Administrative fees and minimum earned premium are non-refundable.

Program Eligibility

Program Features

  • Prior acts coverage back to first date of continuous coverage
  • Coverage includes:
    • Acts as an agent or general agent:
      • Sale, attempted sale or servicing of life insurance, accident and, health insurance,, managed health care organization contracts, disability income insurance, or indexed/fixed annuities
      • Administration of employee benefit plans
      • Financial planning activities in conjunction with the services described above
      • The supervision, management and training of an Agent by a General Agent with respect to activities otherwise covered by the Policy
      • Services as a notary public
    • Acts as a Registered Representative or Registered Investment Advisor:
      • Sale, attempted sale or servicing of variable annuities, variable life insurance,, mutual funds that are registered with the SEC, if required, through a Broker/Dealer that is a member of FINRA, and securities approved by and offered on the securities platform of the Broker/Dealer with whom the Registered Representative had a contract at the time of sale
      • Investment Advisory Services
      • Investment advice or other services provided as a fiduciary as defined by ERISA
      • Investment manager as defined by ERISA, subject to a sub-limit of $250,000 per claim/ $250,000 aggregate
      • Services performed as a fiduciary advisor as defined by the Pension Protection Act
      • includes full discretionary investment advisory services coverage but only when exercising discretionary authority as an RIA
      • Financial planning activities in conjunction with the services described above
  • $75,000 limit of liability each Claim and in the aggregate per Insured of coverage for cost of corrections demands
  • $25,000 limit of liability in the aggregate per Insured of coverage for regulatory inquiries
  • Coverage extends to your administrative, clerical and support personnel while they are acting on your behalf
  • Provides coverage for any affiliated corporation, partnership or agency for their liability arising out of the individual insured's professional services
  • Automatic 30 day Extended Reporting Period (ERP). Optional 1 year, 2 years, or 3 years ERP policies available
  • Optional cyber and data breach coverage available for $100 additional premium
    • $5,000 retention each Claim or Privacy Event
    • $100,000 limit of liability in the aggregate per insured
    • $100,000 limit of liability for each claim and in the aggregate per Insured for privacy injury liability and privacy regulation proceedings
    • $25,000 limit of liability for each privacy event
  • $10,000,000 Policy Year Aggregate
  • Additional Features include:
    • Coverage for social media marketing in conjunction with the performance of professional services
    • Coverage for subpoena expenses up to $15,000 per insured
    • Coverage for pre-claim assistance up to $10,000 per insured
  • Important: This is a claims made and reported policy. Claims must be submitted immediately in writing to the insurer. Coverage only applies to claims first made during the policy period. Claims must be reported during the policy period; or, during an extended reporting period (ERP). Prior acts are covered back to the first day of continuous E&O coverage. Please refer to the policy form for claim reporting provisions and definition of a claim, prior acts definition, and ERP details.

Deductibles and Retentions

  • Professional Liability Retention:
    • $5,000 per E&O claim
    • $5,000 per cost of corrections demand
  • Cyber Liability Retention: (if purchased)
    • $5,000 per claim

Payment Options

  • Pay in full or choose monthly payments via credit card or electronic funds transfer (EFT). For those customers that select the monthly payment option, your credit card or EFT will be processed on the 3rd business day of each month.

Policy Exclusions

  • Key Policy Exclusions:
    • The Insurer shall not be liable to pay any Loss in connection with any Claim:
      • MEWAs/self-funded plans
      • Selling away
      • Commodities, futures, options, with the exception of covered call/put writing
      • Promissory notes
      • ETS payphones
      • Viatical settlements
      • Structured products
      • Life settlements/reverse mortgages
      • Issuer callable CDs/equipment sale-lease-buy-back transactions
      • Leveraged or inverse products
      • STOLIs/SPINLIFE
      • Premium financing
      • 412/419 plans
    • Unsolicited Communications Exclusions
    • Alternative Investments where the client's portfolio exceeds a total concentration of 5% alternatives. Covered Alternatives must have been sold after 1/1/2010 and are subject to a $500,000 per claim/ $500,000 per insured sublimit. No coverage is afforded for oil & gas limited partnerships

Underwriter

  • This errors and omissions coverage is placed with an admitted carrier. Please reference the A.M. Best rating chart and disclosures link below for an explanation of admitted and non-admitted carriers.
  • One or more of the CNA companies provide the products and/or services described. The information is intended to present a general overview for illustrative purposes only. It is not intended to constitute a binding contract. Please remember that only the relevant insurance policy can provide the actual terms, coverages, amounts, conditions and exclusions for an insured. All products and services may not be available in all states and may be subject to change without notice. “CNA" is a registered trademark of CNA Financial Corporation. Certain CNA Financial Corporation subsidiaries use the "CNA" service mark in connection with insurance underwriting and claims activities. Copyright © 2018 CNA. All rights reserved.
    www.cna.com
    CNA is an A.M. Best A (Excellent) XV rated carrier.

Disclosures

Program Administrator

  • Gallagher Affinity
  • Refer to the policy form for additional definitions, terms, and conditions. Please contact us with any questions or concerns; you can also visit our Frequently Asked Questions for more information.

Errors and Omissions Insurance Program for RIA in a Box LLC FIRMS WITH MULTIPLE ADVISORS

Apply for RIA in a Box LLC E&O Insurance Renew   Policy   Policy 11/01/2018 to 11/01/2019   E&O Renewal Reminder

Pricing Information  •   Program Eligibility  •   Program Features  •   Deductibles and Retentions  •   Payment Options  •   Policy Exclusions  •   Underwriter  •   Disclosures  •   Program Administrator

E&O Program Introduction

  • 360 Coverage Pros provides a comprehensive Errors & Omissions insurance program exclusively for customers of RIA in a Box.

About This Coverage

  • Important State Amendatory Endorsements
  • 360 Coverage Pros is proud to bring outstanding E&O coverage at competitive prices to RIA in a Box RIA Firm Customers selling and servicing securities products and/or advising their clients on a fee based arrangement. With tailored coverage, multiple limit options, easy online enrollment, instant certificate, and flexible payment options, we've taken the hassle out of traditional securities E&O programs without sacrificing quality or service.

Pricing Information

$1 Million per claim / $1 Million annual aggregate
Errors and Omissions Insurance For RIA Firms
Effective Date Pay In Full or Down Payment w/ Monthly Payment
01/01/19 Apply today for $1,117.00 $134.75 $94.75
   View more limit, coverage and pricing options
  • Pricing shown above is for the RIAs earning less than $125,000 in gross annual revenues and is based on a coverage limit of $1,000,000 per claim / $1,000,000 annual aggregate.
  • Prices includes a $40.00 administrative fee. Down payment refers to the monthly payment option. Your down payment includes one month's premium, administrative fees and a $5.00 monthly processing fee. Down payments will be processed immediately; monthly deductions as shown above will begin on the 3rd business day of the month after the enrollment effective date.
  • At the time of enrollment, each agent will be required to make a non-refundable payment in the amount of the first month’s premium (minimum earned premium). Administrative fees and minimum earned premium are non-refundable.

Program Eligibility

  • This E&O insurance is specifically designed for:
    • RIA in a Box RIA Firm customers with multiple advisors that have total firm annual revenues of $1 Million or less. Coverage extends to employed IARs and/or independent contractors, but only while acting on behalf of the covered Firm.
    • RIA Firms must derive less than 10% of their revenue from alternative investments. Any claims involving alternative investments where it is determined that an RIA's product mix consisted of more than 10% alternatives will be excluded.
    • RIA Firms domiciled in the state of New York are subject to NY State Insurance law which prohibits the sharing of firm policy limits by multiple advisors. In the state of NY, each advisor is required to purchase his or her own individual coverage under this master policy..
    • RIA Firms domiciled in NY, looking for expanded alternative investment coverage, or have revenues greater than $1,000,000 complete this form for a custom quote.

Program Features

  • Prior acts coverage back to first date of continuous coverage
  • Coverage includes:
    • Acts as an agent or general agent:
      • Sale, attempted sale or servicing of life insurance, accident and, health insurance,, managed health care organization contracts, disability income insurance, or indexed/fixed annuities
      • Administration of employee benefit plans
      • Financial planning activities in conjunction with the services described above
      • The supervision, management and training of an Agent by a General Agent with respect to activities otherwise covered by the Policy
      • Services as a notary public
    • Acts as a Registered Investment Advisor:
      • Investment Advisory Services
      • Investment advice or other services provided as a fiduciary as defined by ERISA
      • Investment manager as defined by ERISA, subject to a sub-limit of $250,000 per claim/ $250,000 aggregate
      • Services performed as a fiduciary advisor as defined by the Pension Protection Act
      • includes full discretionary investment advisory services coverage but only when exercising discretionary authority as an RIA
      • Financial planning activities in conjunction with the services described above
  • $75,000 limit of liability each Claim and in the aggregate per Insured of coverage for cost of corrections demands
  • $25,000 limit of liability in the aggregate per Insured of coverage for regulatory inquiries
  • Coverage extends to your administrative, clerical and support personnel while they are acting on your behalf
  • Provides coverage for any affiliated corporation, partnership or agency for their liability arising out of the individual insured's professional services
  • Automatic 30 day Extended Reporting Period (ERP). Optional 1 year, 2 years, or 3 years ERP policies available
  • Optional cyber and data breach coverage available for $100 additional premium
    • $5,000 retention each Claim or Privacy Event
    • $100,000 limit of liability in the aggregate per insured
    • $100,000 limit of liability for each claim and in the aggregate per Insured for privacy injury liability and privacy regulation proceedings
    • $25,000 limit of liability for each privacy event
  • $10,000,000 Policy Year Aggregate
  • Additional Features include:
    • Coverage for social media marketing in conjunction with the performance of professional services
    • Coverage for subpoena expenses up to $15,000 per insured
    • Coverage for pre-claim assistance up to $10,000 per insured
  • Important: This is a claims made and reported policy. Claims must be submitted immediately in writing to the insurer. Coverage only applies to claims first made during the policy period. Claims must be reported during the policy period; or, during an extended reporting period (ERP). Prior acts are covered back to the first day of continuous E&O coverage. Please refer to the policy form for claim reporting provisions and definition of a claim, prior acts definition, and ERP details.

Deductibles and Retentions

  • Professional Liability Retention:
    • $5,000 per E&O claim
    • $5,000 per cost of corrections demand
  • Cyber Liability Retention: (if purchased)
    • $5,000 per claim

Payment Options

  • Pay in full or choose monthly payments via credit card or electronic funds transfer (EFT). For those customers that select the monthly payment option, your credit card or EFT will be processed on the 3rd business day of each month.

Policy Exclusions

  • Key Policy Exclusions:
    • The Insurer shall not be liable to pay any Loss in connection with any Claim:
      • MEWAs/self-funded plans
      • Selling away
      • Commodities, futures, options, with the exception of covered call/put writing
      • Promissory notes
      • ETS payphones
      • Viatical settlements
      • Structured products
      • Life settlements/reverse mortgages
      • Issuer callable CDs/equipment sale-lease-buy-back transactions
      • Leveraged or inverse products
      • STOLIs/SPINLIFE
      • Premium financing
      • 412/419 plans
    • Unsolicited Communications Exclusions
    • Alternative Investments where the client's portfolio exceeds a total concentration of 5% alternatives. Covered Alternatives must have been sold after 1/1/2010 and are subject to a $500,000 per claim/ $500,000 per insured sublimit. No coverage is afforded for oil & gas limited partnerships

Underwriter

  • This errors and omissions coverage is placed with an admitted carrier. Please reference the A.M. Best rating chart and disclosures link below for an explanation of admitted and non-admitted carriers.
  • One or more of the CNA companies provide the products and/or services described. The information is intended to present a general overview for illustrative purposes only. It is not intended to constitute a binding contract. Please remember that only the relevant insurance policy can provide the actual terms, coverages, amounts, conditions and exclusions for an insured. All products and services may not be available in all states and may be subject to change without notice. “CNA" is a registered trademark of CNA Financial Corporation. Certain CNA Financial Corporation subsidiaries use the "CNA" service mark in connection with insurance underwriting and claims activities. Copyright © 2018 CNA. All rights reserved.
    www.cna.com
    CNA is an A.M. Best A (Excellent) XV rated carrier.

Disclosures

Program Administrator

  • Gallagher Affinity
  • Refer to the policy form for additional definitions, terms, and conditions. Please contact us with any questions or concerns; you can also visit our Frequently Asked Questions for more information.

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