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E&O Insurance: Finding the Right Features
Posted by National Ethics Association February 28, 2012Not all E&O policies are the same. And depending on your specialty, there are certain elements you may need that others do not. Here are some of the features you should look for in a high-quality E&O policy: Adequate liability coverage All E&O policies include liability coverage that protects... -
Top Five Ways to Save Money on Your E&O Insurance
Posted by National Ethics Association February 28, 2012As a financial professional, you know you need errors and omissions insurance. The challenge is finding high-quality coverage that doesn’t break the bank. Here are five techniques that will help protect your business, while saving you money. 1. Take advantage of your clean record. If you do business responsibly, chances... -
E&O Claim Prevention: The Case of the Wavering Waiver
Posted by National Ethics Association February 28, 2012The Incident An agent writes a $1,000,000 life insurance policy on his then 36-year-old male client. The client requests a premium waiver in case he ever gets disabled. The agent assures the client the policy will be issued with the rider. However, the policy is issued without one. The client... -
Top Ten Ways to Prevent an E&O Insurance Claim
Posted by National Ethics Association February 28, 2012Congratulations on buying an errors and omissions insurance policy! You’ve taken a big step toward protecting your current business and future livelihood. But don’t stop there. Be sure to nip potential claims in the bud. The following ten tips will show you how. Tip #1: Be a Consummate Professional.... -
Top Ten Things Every Advisor Should Know about E&O Insurance
Posted by National Ethics Association February 28, 2012#1: You need it. In today’s economy, it’s just too risky to do business without errors and omissions (E&O) insurance. If you’re ill equipped to absorb $20,000 or more to settle a customer claim or spend $20,000 to $100,000+ to fight it, you definitely need E&O insurance. #2: You’re... -
How to Avoid E&O Time Bombs
Posted by National Ethics Association February 28, 2012Have you ever forgotten to renew your errors and omissions (E&O) insurance? Guess what . . . you created a ticking time bomb: an E&O coverage lapse. If you have an E&O insurance policy, you already know what it does. It will protect you financially in the... -
How important is selling suitable products and what suggestions do you have for doing so?
Posted by National Ethics Association February 20, 2012Ask National Ethics Association… Q: I am a financial advisor who’s required to have errors and omission coverage. What do I need to look for in an E&O insurance policy? A: Before we give you the answer, here’s a short introduction on E&O that may be helpful. Errors-and-omissions insurance, or... -
How important is selling suitable products and what suggestions do you have for doing so?
Posted by National Ethics Association February 15, 2012Ask National Ethics Association… Q: My compliance department talks a lot about suitability. How important is selling suitable products and what suggestions do you have for doing so? A: Your compliance colleagues are right to be focused on suitability. It’s one of the biggest issues in the business right now...