Do you have existing E & O coverage that you’d like to cancel in order to take advantage of the great rates and broad terms of the IFB plan? Here are the steps you need to follow:

1. Apply for membership in Independent Financial Brokers. The IFB Group plan is exclusively available to members, and our membership year runs from January 1 - December 31.
2. At the same time that you apply for membership, complete and return an application for coverage in the IFB E & O plan. Don't forget to answer all questions fully, and indicate the date you'd like your coverage to be effective. The IFB Group plan runs from July 1, 2009 - June 30, 2010. Those joining mid-term pay a pro-rated premium, based on the effective-date of their coverage. 2010 - 2010 Premium Chart or Premium Chart for 13 months coverage beginning June 2010
3. Once you are accepted in the IFB Group E & O plan (usually within 5 to 10 days of your application), notify your current Association and/or broker in writing that you are canceling your current coverage, and indicate the effective date for your cancellation. You should also request confirmation of receipt of your cancellation, as well as the refund of any unearned premium on your policy.
4. Important: Notify your current broker/insurer in writing of any situation you know of which might give rise to a claim prior to the cancellation date of your current coverage