E&O Insurance for RIA Agents

Group Rates. Bind & Print Your E&O Policy in Under 5 Minutes

  • Instant Proof of Insurance – Click and Bind in 5 Minutes or Less
  • Instant Access to Membership Benefits
  • Access to Dozens of Members Only Discounts
  • Market Yourself with Your Online Profile at Ethics.net
  • Ongoing E&O Claim Prevention and Ethics Content

Membership Now Includes Free Unlimited CE Courses!

RIA Agents

$1M/Each Claim
$1M/aggregate**
Insurance Premium $1,641
+ NEA Membership Fee $156
$1,797

RIA Agents

$1M/Each Claim
$2M/aggregate**
Insurance Premium $1,805
+ NEA Membership Fee $156
$1,961

RIA Agents

$1M/Each Claim
$3M/aggregate**
Insurance Premium $1,888
+ NEA Membership Fee $156
$2,044

NEA Member Fee Disclosure: The NEA member fee covers your membership in the National Ethics Association (NEA). Please note that the NEA membership fee is not part of the insurance transaction. You must be a member of the NEA and be able to successfully complete the application for coverage in order to be eligible for the insurance offered through the NEA. If you wish to purchase this insurance coverage, you may apply for the insurance by completing the application, as noted above. You will then pay the insurance premium and receive your certificate of insurance. This program is 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. #100102691 | CA Ins. Lic. #0G39709

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

Why We’re the Top E&O Agents Trust

Save Money

Save 20% – 50% or more over inferior coverage from our competitors

No Caps

Unlike the competition, your annual earnings do not jeopardize your coverage

Quick & Easy

Easy 2-Step Process. Join, Bind, Print Your Policy Certificate in Under 5 Minutes

Top Insurer***

CNA is the 8th largest US commercial lines insurer, with $46.3 billion in assets

100% Participation

Products available to both new and experienced agents

Protects Your Past

Coverage extends back to your first continuous E&O policy

Protects Your Staff, Business, & Family

Coverage includes service-related admin, secretarial and clerical, plus spouses, domestic partners, estates, heirs, business entity, and more

No Hidden Fees

No fine-print fees, or bait and switch tactics

Coverage Details

Coverage Details for $1,797 (Insurance premium $1,641 and NEA Membership Fee $156)

Provides protection for your liability for wrongful acts solely in the rendering or failing to render professional services. This includes professional services relating to the sale, attempted sale or servicing of variable annuities, variable life insurance (that requires a securities license) and mutual funds that are registered with the Securities Exchange Commission, if required, through a Broker/Dealer that is a member of the Financial Industry Regulatory Authority, Investment Advisory Services, securities (other than variable annuities, variable life insurance and mutual funds), life insurance, accident and health insurance, or managed health care organization contracts (that does not require a securities license), disability income insurance, indexed/fixed annuities, Medicare Advantage or Medicare Supplemental Insurance.

$1M/Each Claim
$1M/Aggregate

Coverage Details for $1,961 (Insurance premium $1,805 and NEA Membership Fee $156)

Provides protection for your liability for wrongful acts solely in the rendering or failing to render professional services. This includes professional services relating to the sale, attempted sale or servicing of variable annuities, variable life insurance (that requires a securities license) and mutual funds that are registered with the Securities Exchange Commission, if required, through a Broker/Dealer that is a member of the Financial Industry Regulatory Authority, Investment Advisory Services, securities (other than variable annuities, variable life insurance and mutual funds), life insurance, accident and health insurance, or managed health care organization contracts (that does not require a securities license), disability income insurance, indexed/fixed annuities, Medicare Advantage or Medicare Supplemental Insurance.

$1M/Each Claim
$2M/Aggregate

Coverage Details for $2,044 (Insurance premium $1,888 and NEA Membership Fee $156)

Provides protection for your liability for wrongful acts solely in the rendering or failing to render professional services. This includes professional services relating to the sale, attempted sale or servicing of variable annuities, variable life insurance (that requires a securities license) and mutual funds that are registered with the Securities Exchange Commission, if required, through a Broker/Dealer that is a member of the Financial Industry Regulatory Authority, Investment Advisory Services, securities (other than variable annuities, variable life insurance and mutual funds), life insurance, accident and health insurance, or managed health care organization contracts (that does not require a securities license), disability income insurance, indexed/fixed annuities, Medicare Advantage or Medicare Supplemental Insurance.

$1M/Each Claim
$3M/Aggregate

Policy Details

Overview

This policy provides protection for your liability for wrongful acts solely in rendering or failing to render professional services. This includes the following:

  1. The sale, attempted sale or servicing of variable annuities, variable life insurance (that requires a securities license) and mutual funds that are registered with the Securities Exchange Commission, if required, through a Broker/Dealer that is a member of the Financial Industry Regulatory Authority; but only if such coverage is purchased;
  2. Investment Advisory Services
  3. The sale or attempted sale or servicing of securities (other than variable annuities, variable life insurance and mutual funds) approved by and offered on the securities platform of the Broker/Dealer with whom the Registered Investment Advisor Investment Advisor Representative has a contract;
  4. Administration of Employee Benefit Plans;
  5. Financial planning activities in conjunction with services described in paragraphs 1. through 4. of this definition, whether or not a separate fee is charged;
  6. Services performed as a Fiduciary Advisor as defined in the Pension Protection Act of 2006, and any amendment thereof; or
  7. Only the following services as a natural person Agent or General Agent, to the extent they are provided in the course and scope of the Insured’s business as an Agent or General Agent and such Agent or General Agent has the appropriate license in both the Client’s resident state or jurisdiction and the state or jurisdiction in which the business is conducted but only if such coverage is purchased and shown on Certificate of Insurance:
    • a. The sale, attempted sale or servicing of life insurance, accident and health insurance, or managed health care organization contracts (that does not require a securities license);
    • b. The sale, attempted sale or servicing of disability income insurance;
    • c. The sale, attempted sale or servicing of indexed/fixed annuities;
    • d. The sale, attempted sale or servicing of Medicare Advantage or Medicare Supplemental Insurance;
    • e. Financial planning activities in conjunction with services described in paragraphs 1. through 4. of this definition, whether or not a separate fee is charged;
    • f. The supervision, management and training of an Agent by a General Agent with respect to activities otherwise covered by the Master Policy.

Limits of Liability

Limits of liability for $1,797 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)

Limits of liability for $1,961 Plan

$1,000,000 each claim
$2,000,000 in the aggregate
$15,000,000 total Master Policy aggregate (for all non-New York Insureds)

Limits of liability for $2,044 Plan

$1,000,000 each claim
$3,000,000 in the aggregate
$15,000,000 total Master Policy aggregate (for all non-New York Insureds)

Retentions

$5,000 each Claim for Securities (other than Mutual Funds/Variable Annuities/Variable Insurance), Investment Advisory Services, Fiduciary Advisor
$5,000 each Claim for Variable Annuities/Variable Insurance (that requires a securities license) and Mutual Funds sold through any Broker/Dealer
$500 each Claim for Life, Accident, Health Insurance and Long Term Care Products through any Insurance Company (that does not require a securities license)
$2,500 each Claim for Indexed Annuities/Fixed Annuities
$2,500 each Claim for Disability Income Insurance

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
  • A one year extended reporting period at no additional charge subject to policy provisions
  • 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 while the insured is providing Professional Services

Plan Eligibility

Coverage is subject to answering correctly all questions on the application.

Underwritten by:

Continental Casualty Company (CNA)
  • $9.6 billion in revenues
  • 100+ years in business
  • 7,000 employees
  • U.S., Canada and International operations
  • “A” rated for financial strength by A.M. Best
  • 8th largest U.S. commercial lines insurer***
  • Assets of $45.3 billion
  • Statutory surplus of $10.9 billion****

*** Based on 2013 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 policy provisions. In the instance of conflict between this sheet and the actual policy, the policy 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 © CNA. All rights reserved.

Downloads

This specimen policy is valid for effective dates of 5/01/16 and after

RIA Policy Specimen PDF

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