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ERRORS & OMISSIONS
Errors and Omissions Insurance covers certain legal fees, judgments and settlements that you may face because of claims and litigation brought against you based on the advice or services you have provided.
Unfortunately, today’s society is very litigious. Despite your relationships with clientele or how careful you are in your role, you simply never know, and it pays to be covered.
Contact us at [email protected] or (844) 406-5958 and we will be happy to assist you.
An individual policy limit means you do not share the aggregate limit associated with your policy. Only the insured’s own claims will affect funds available to them during the policy term.
Lockton Affinity Advisor E&O and Lockton Affinity Life Agent E&O policies do not have a deductible. However Cyber Liability coverage included with the Lockton Affinity Life Agent E&O policy has a $2,500 deductible. Also, the endorsement for the Series 6 License has a $2,500 deductible.
Cyber Liability insurance provides coverage for businesses or individuals that have been tasked with providing online security for their clients. This online security includes providing their clients with protection from data breaches and cyberattacks. In the event of a cybersecurity breach that results in your client suing you, the Cyber Liability insurance will pay for your legal fees and expenses.
If you keep personally identifiable information (PII) about your clients, such as credit card information, full names, addresses and more, you could be at risk for the costs associated with breach of your business records.
Our policy covers you for third party privacy liability and information security exposures as well as associated costs arising from security and privacy breaches when handling sensitive and personally identifiable information of others in your profession.
The policy excludes first party breach response services and certain activities, including but not limited to: loss under a merchant services agreement for acceptance of credit card payments; loss arising from unprotected portable computers or electronic devices; unlawful collection of personal information or failure to provide method to withhold consent from the collection; or intentional breaches or violations of privacy law.
It is effective at 12 a.m. (local time) the day following purchase.
Yes. The Lockton Affinity Life Agent E&O Insurance policy covers you for the liability exposures that can arise from the obligations set forth under ERISA. This includes services maintained in force and without interruption as an ERISA 3(21) and 3(38) advisor.
Claim reporting information will be provided to you when you get your policy. As always, we are here to assist you if you have questions.
Yes, you can receive coverage for your prior acts matching your current coverage, if your current coverage has been maintained without interruption. However, if you are insured solely through your Broker Dealer, your prior acts coverage could be limited. If you are aware of circumstances that could result in a claim, these should be reported to your current insurer prior to binding coverage.
You, the individual providing the covered Professional Services to your clients. The coverage can extend to your non-licensed employees in the event they are named as a co-defendant in a claim that has been brought against you.
Yes, defense expenses are included within the policy limit. The policy offers pre-claim assistance to cover expenses associated with the investigation and mitigation of a potential claim, at the Underwriters’ sole discretion. If a claim against you is pursued, the underwriters reserve the right in selecting the counsel for your defense. Additional benefits include payment up to $10,000 in addition to the aggregate limit of liability for attorney and related fees in response to a subpoena. And, you can expect reimbursement of legal fees and expenses resulting from a disciplinary proceeding, up to $10,000.
Your insurance policy is underwritten by an insurance carrier with an “A” rating from A.M. Best. Lockton Affinity stands behind you to ensure you are getting the best policy for your needs.
(Coverage is provided by Certain Underwriters at Lloyd’s.)
If your question is not answered above, give us a call at (844) 406-5958.
If you have any questions about Lockton Affinity’s Advisor Insurance Program, please call one of our knowledgeable Associates today or fill out our contact form.
Phones are answered Monday – Friday, 7 AM to 6 PM (CST).