2011 - 2012 E&O Insurance

Magnes, the broker for the IFB E&O program, has once again successfully negotiated the best rates and coverage available to independent brokers -- starting from just $650!

Features of the 2011 - 2012 IFB E&O Individual Broker Plan:

• LOWER PREMIUMS - virtually all plan members will pay less this year!
• MORE LIMITS TO CHOOSE FROM - you can now opt for limits from $1 - $5 million
• SIMPLIFIED PREMIUMS - no complicated rate charts and level premiums across the country for life insurance brokers and mutual fund advisors!
  
• CREDIT CARDS NOW ACCEPTED! Pay your premium with Visa or Mastercard*
• GREAT OPTIONAL EXTRAS -coverage for Exempt Market Dealer Reps & low cost Privacy and Network Security Breach Insurance coverage
  
  Click here for a
  pdf summary of the
  Errors & Omissions
  plan

• Coverage arranged with AXIS Reinsurance Company
• Extended Reporting available!
• For answers to some frequently asked questions about the program, click here.

Access our online application!

Premium Information for Life Brokers and Mutual Fund Reps:

The coverage year for the IFB E&O program runs from July 1, 2011 - July 1, 2012. Premiums do not include premium tax, where applicable. ON - add 8% tax; QC - add 9% tax. Premiums include all mandatory coverages required by regulation.

Other optional coverage now available to IFB E&O Plan members:

Optional E&O Insurance coverage for Exempt Market Dealer Representatives (EMDR)

IFB plan members can now purchase coverage for their activities as a registered Exempt Market Dealer Rep, provided these activities are conducted through a Registered Exempt Market Dealer. Coverage is issued as an endorsement on your certificate of insurance.

This limit is included in the overall coverage limit selected, and is not in addition to the overall limit. A $5,000 deductible applies for EMDR coverage.

• $250,000 per claim/$250,000 aggregate limit
• Premium July 1, 2011 - July 1, 2012 - $250.00 (plus tax, where applicable)

NEW! Privacy and Network Security Breach Response Insurance

Data security is a paramount exposure in the financial services industry. A breach of data can be ruinous, in terms of costs to comply with notification requirements, potential liability claims, and damage to your business reputation. This coverage available to IFB members addresses these evolving exposures - it protects your business from claims and other exposures resulting from a breach of data security.

Click here to learn more about this important extra coverage!

It includes:

• A: Network Security and Privacy Liability coverage - $100,000 per claim/aggregate
• B: Network Security Event Crisis Management Expense - $50,000 per claim/aggregate
• C: Regulatory Action Coverage - $50,000 per claim/aggregate
• D: Computer System Extortion Expense and Loss Coverage - $50,000 per claim/aggregate

Deductible: $5,000 per claim, with the exception of D, to which no deductible applies

Flat rate Premium: $50 plus tax, if applicable

Downloadable application forms

Would you prefer a paper application? Click on the link below to download an application you can print and complete

Printable Applications -Advisors Licensed Mutual Fund Assistants

Other downloadable documents:
Declaration for those with personal/family owned corporation

Leaving the business?

Extended reporting (ERP or tail cover) is available for those retiring or leaving the business. The cost fo purchase ERP is:

To apply for Extended Reporting cover, call 905-279-2727 or toll-free 1-888-654-3333.

Do you need coverage for your Corporation?

Magnes is also the broker for the IFB sponsored Corporate E&O program. For more information on the Corporate Coverage Solution, click here.

*Premiums paid by credit card, cheque, money order or premium financing are subject to a $15 processing charge.

Click here to download the policy wording for the 2011 - 2012 E&O program.