EO Headquarters

Our E&O HQ provides insight, guidance, and resources enabling ethical business practices and claim avoidance. Stay on top of the latest news, trends, & compliance at our E&O Headquarters sponsored by National Ethics Association. For more resources visit our sponsor’s Consumer Hub & Ethics Center pages.

The Dangers of Hyping Your Awards and Designations

Posted by: EOForLess on October 16, 2017

Financial professionals—life, health, and P&C agents and registered investment advisors—must promote themselves in order to grow their firms. That means selling their capabilities using multiple promotional methods. One of these is seeking professional awards and designations they can use to enhance their credibility and differentiate themselves from their peers.

Advisor Alert: 10 Mistakes to Avoid When Advertising Your RIA

Posted by: EOForLess on October 9, 2017

By competing fairly, your prospects will trust you more, your clients will be more satisfied and loyal, and you’ll have less need to use your E&O insurance in a legal dispute.

How to Not Pay Too Much for Your E&O Insurance

Posted by: EOForLess on October 5, 2017

So how do you find a reasonably priced E&O policy? Start by becoming familiar with the various ways to buy E&O insurance. The traditional method, which is often used by financial professionals who own larger businesses with sub-agents and multiple product lines, is to retain an E&O insurance broker who works with multiple E&O insurers.

Business Continuity Plans for Financial Professionals: An EOforLess Resource List

Posted by: EOForLess on September 20, 2017

Does you have a business continuity plan for your firm? If so, are you confident it will get you back in business quickly after a major storm or other natural catastrophe? And once it does, will it protect you against storm-related E&O insurance claims?  If you don’t have a plan, do you know how to create one that your regulator(s) will deem sufficient?

Rogue Advisors on Parade: Nutmeg Skimmer, D.C. Radio Star, and Accounting Schemers

Posted by: EOForLess on September 20, 2017

A shoreline Connecticut investment advisor is going to jail for five years in connection with his skimming nearly$620,000 in unearned fees from client accounts.

Advisor Alert: Have You Done Enough About Senior Fraud?

Posted by: EOForLess on September 15, 2017

The same percentage—97%—say there’s a greater awareness of senior investment fraud today than there was a year ago. However, that hasn’t translated into a widespread decrease in senior fraud complaints. Sixty-nine percent said they have experienced about the same rate of senior fraud, while 29 percent said their cases have increased and 3 percent said they’ve decreased.

Will Your E&O Insurance Be There When You Need it?

Posted by: Harry Lew on September 7, 2017

As you can imagine, having an E&O coverage gap is like a ticking time bomb. If things are going well, you may not give it another thought. But if you get hit with a client lawsuit arising from the period before your coverage gap, you will have zero protection from your policy . . . ZERO!

Protect Yourself Like Your Clients | E&O Insurance

Posted by: EOForLess on August 30, 2017

Successful independent agents will perform—and excel at—the vast majority of these tasks, if not all of them. If they don’t, their clients will find someone else with whom to do business. But do they excel at performing these activities for their own business? Perhaps not. And what about you? Do you postpone this task when client work beckons? Again, if you do, that’s fine. But recognize that the longer you put off addressing your own E&O exposures, the more likely you will suffer a crippling E&O loss. Is that what you want for your business?

Three Keys to Adequate Protection | E&O Insurance

Posted by: Harry Lew on August 21, 2017

Buying errors and omissions insurance is no walk on the beach. Of course, since when is buying any type of insurance easy? Although online insurance purchasing has made shopping more convenient, you’re still left with the time-consuming task of doing your due diligence on the policy before you can either purchase it for yourself or recommend it to your clients. As a result, it can be tempting to take shortcuts when shopping for your own errors and omissions insurance. Don’t!

The Benefits of Being Covered with E&O Insurance

Posted by: Harry Lew on August 15, 2017

As you gain experience and grow an increasingly affluent client base, your income will grow in tandem. This is normally a good thing, but not from an E&O insurance perspective. That’s because the more money you make, the more financially successful you will appear to be in your clients’ eyes. And the more successful you seem, the more likely you will become a litigation target.