Group Rates on Errors and Omissions Insurance for Registered Investment Advisors

Buy E&O Insurance for Registered Investment Advisors.

Policy Highlights

  • A Rated Carriers
  • Instant Proof of Insurance
  • Instant Membership to Ethics.net
  • Member Directory & Member Finder
  • Access to Dozens of Retail Discounts

Administered by Mercer Consumer underwritten by CNA.
Limits
Membership Fee
Insurance Premium
Total
Registered Investment Advisor

Limits

$1M/Each Claim
$1M/Aggregate

Membership Fee

$156
+

Policy Premium

$1,150
=

Total

$1,306 Buy Now
Registered Investment Advisor

Limits

$2M/Each Claim
$2M/Aggregate

Membership Fee

$156
+

Policy Premium

$1,660
=

Total

$1,816 Buy Now
Registered Investment Advisor

Limits

$2M/Each Claim
$3M/Aggregate

Membership Fee

$156
+

Policy Premium

$1,770
=

Total

$1,926 Buy Now
Registered Investment Advisor

Limits

$1M/Each Claim
$1M/Aggregate

Membership Fee

$0
+

Policy Premium

$1,150
=

Total

$1,150 Buy Now
Registered Investment Advisor

Limits

$2M/Each Claim
$2M/Aggregate

Membership Fee

$0
+

Policy Premium

$1,660
=

Total

$1,660 Buy Now
Registered Investment Advisor

Limits

$2M/Each Claim
$3M/Aggregate

Membership Fee

$0
+

Policy Premium

$1,770
=

Total

$1,770 Buy Now

NEA Member Fee Disclosure: You must be a member of the National Ethics Association (NEA) and be able to successfully complete the application for coverage. You can join NEA directly at www.ethics.net and then continue to Mercer and pay the insurance premium. This annual fee covers your membership in the NEA which is required to participate in this group policy offering and is not part of the insurance transaction. Program Administered by Mercer Consumer, a service of Mercer Health & Benefits Administration LLC | In CA d/b/a Mercer Health & Benefits Insurance Services LLC | AR Ins. Lic. #303439 | CA Ins. Lic. #0G39709

** $15,000,000 total Master Policy aggregate for all Non-New York Insureds.

Policy Details

Overview

Provides protection for your liability for wrongful acts in the rendering of or failure to render professional services. This includes (but is not limited to) services provided in the capacity as a Registered Investment Advisor or Investment Advisor Representative and only to the extent that the Registered Investment Advisor or Investment Advisor Representative has the appropriate license in both the Client’s resident state or jurisdiction and the state or jurisdiction in which the business is conducted.

Limits of Liability

Silver Plan

$1,000,000 each claim
$1,000,000 in the aggregate
$15,000,000 total Master Policy aggregate (for all non-New York Insureds)

Gold Plan

$2,000,000 each claim
$2,000,000 in the aggregate
$15,000,000 total Master Policy aggregate (for all non-New York Insureds)

Platinum Plan

$2,000,000 each claim
$3,000,000 in the aggregate
$15,000,000 total Master Policy aggregate (for all non-New York Insureds)

Retentions

$500 Each Claim for Life, Accident, Health Insurance, LTC Products (that does not require a securities license)
$2,500 Each Claim for Fixed or Indexed Annuities, Disability Income
$5,000 Each Claim for Variable Annuities/Variable Insurance (that requires a securities license), Mutual Funds, All other Securities

Additional Features Include:

  • Competitive rates
  • Prior Acts Coverage going back to the first continuous E&O policy subject to policy provisions
  • Coverage for any corporation, partnership, or other business entity owned or controlled by an Insured for rendering or failing to render Professional Services
  • Individual Annual policy term
  • An unlimited extended reporting period at no additional charge subject to policy provisions
  • An unlimited extended reporting period at no additional charge subject to the policy provisions so long as the insured has been insured under the policy for at least six (6) months
  • Quick and easy online enrollment with certificate available online upon satisfactory confirmation of premium payment
  • Quick and easy online certificate renewal
  • Coverage extended to spouses, domestic partners, estates, heirs or legal representatives for claims arising out of their status as such
  • Secretarial, clerical and administrative personnel are insured if acting on behalf of the insured

Plan Eligibility

Coverage is subject to favorably answering all qualifying questions on the application.

Underwritten by:

Continental Casualty Company (CNA)
  • $8.9 billion in revenues
  • 100+ years in business
  • 7,600 employees
  • U.S., Canada and International operations
  • “A” rated for financial strength by A.M. Best
  • 7th largest U.S. commercial lines insurer*
  • Assets of $45.5 billion
  • Statutory surplus of $10.6 billion**
  • 1 million business and professional policyholders
*Based on 2010 Net Written Premium, A.M. Best
** Continental Casualty Company

Administered by:

Mercer Consumer, a service of Mercer Health & Benefits Administration LLC. Mercer is a global consulting leader in talent, health, retirement, and investments. Mercer helps clients around the world advance the health, wealth, and performance of their most vital asset—their people. Mercer’s 20,500+ employees are based in more than 40 countries. Mercer is a wholly subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy, and human capital.

P.O. Box 8146
Des Moines, IA 50306-8146
Phone: 1-866-795-2041
Fax: 1-515-243-2331

This highlights sheet, which has been prepared by Mercer Consumer, contains a summary of the insurance certificate provisions. In the instance of conflict between this sheet and the actual certificate, the insurance language will prevail and control. See the policy for complete list of coverage and exclusions at www.eoforless.com.

Disclaimer: 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. Copyright © 2014 CNA. All rights reserved.

Downloads

RIA Policy Specimen PDF
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