Nuts & Bolts:
CalSurance has enhanced its specialized errors and omissions program for broker-dealers with 75 or fewer registered representatives. It provides each broker-dealer with their own policy limits without sharing a master policy aggregate with other in-program broker-dealers. Features include duty to defend civil proceedings, supervisory coverage for the broker-dealer that extends to terminated, retired and disabled registered representatives, and coverage for libel, slander and defamation.
Dollars:
Up to $1 million in limits of liability and deductibles starting at $25,000 for broker-dealers and $5,000 for registered reps.
Carrier:
Quanta Specialty Lines Insurance Co., rated “A-” by A.M. Best, nonadmitted.
States Available:
All except Connecticut, New Hampshire, New Mexico and Minn.
Contact:
Mary Serafino, (800)-280-7250 or mserafino@calsurance.com.
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