Nuts & Bolts:
CalSurance enhanced its specialized errors and omissions program for broker-dealers with 75 or fewer registered representatives. The program enhancement now provides each broker-dealer with its own policy limits without sharing a master policy aggregate with other broker-dealers in the program. It provides protection against claims arising out of acts, errors or omissions in the rendering of professional services by a broker-dealer, its registered representatives, RIA’s or insurance agency. Other select features of the program 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:
The program offers up to $1 million in limits of liability and has deductibles starting at $25,000 for broker-dealers and $5,000 for registered representatives.
Carrier:
Quanta Specialty Lines Insurance Co. rated “A-” by A.M. Best, nonadmitted.
States Available:
All except Connecticut, New Hampshire, New Mexico and Minnesota.
Contact:
Mary Serafino, (800)-280-7250 or mserafino@calsurance.com.
Topics Agencies Professional Liability
Was this article valuable?
Here are more articles you may enjoy.
Hard Market Conditions Expected to Ease in 2025 as Claims Inflation Softens: Swiss Re 
Study Urges Rethinking of Disaster Management in Era of Compounding Events 
Soccer Officials Arrested After Melee That Damaged Hard Rock Stadium in Miami 
Allstate Reports Second Quarter Pretax Catastrophe Losses of $2.1B From This Issue
