Individual Agent Coverage

Serving the needs of insurance agents and others engaged in insurance and related financial services is NAIFA's mission. The NAIFA-endorsed Professional Liability (E&O) Program is designed to meet your unique needs. Coverage is underwritten by New Hampshire Insurance Company, a member of American Insurance Group, Inc. (AIG), the world’s leading international insurance and financial services organization, with operations in more than 130 countries and jurisdictions.

The NAIFA-endorsed Professional Liability Insurance Program is only available to NAIFA members. If you are not a NAIFA member, learn about NAIFA.

New Coverage Options
  • Coverage for Fee-based Financial Planning and RIA activities.
  • 529 Plans, Life Settlement and Life Settlement Referrals coverage is also available. This is in addition to your Mutual Funds and Financial Products.
  • A Two hour Free Legal Consultation for advice from a qualified attorney on a potential claim or circumstance that could lead to a claim.
Errors & Omissions Coverage
24-hour protection against claims arising from negligent acts, errors and omissions in the conduct of your business.

Choice of Limits
Limits include both a per claim limit and a higher annual aggregate limit.
  • $250,000/ $500,000
  • $500,000/ $1,000,000
  • $1,000,000/ $2,000,000*
  • $2,000,000/ $2,000,000
*The highest limit available in the states of Alabama and Texas is $1,000,000/$2,000,000.

Choice of Deductibles
  • $1,000
  • $2,500
  • $5,000
Claim Expenses Outside the Limits
Your complete legal defense is paid in addition to the limits of liability you choose, for all covered claims. Regardless of whether you win or lose or even if the claim or suit is found groundless, false or fraudulent, your legal defense will be paid, subject to the "consent to settle" provisions of the policy. In certain circumstances, you may be offered coverage which applies the deductible to defense costs.

Protection for Carrier Insolvency
As long as the products you sell are fully insured by an admitted carrier and rated A- or better by A. M. Best at the time of placement, you're protected against legal liability as a result of future insolvency of that carrier.

Wrap-Around Coverage The policy can provide coverage around your existing errors and omission coverage. Your present program may provide coverage for certain products. The NAIFA-endorsed program can 'wrap' around the existing coverage to provide coverage for activities not covered under the existing E&O policy. (This is subject to underwriting approval.)

Protection Against Personal Injury Lawsuits
Protects you against personal injury lawsuits resulting from slander, libel, invasion of privacy or false arrest while performing professional services as a life insurance agent or broker.

Coverage for You as an Individual Agent
Coverage is available for you as a life/ accident/ health agent, general agent or broker and includes your non-producing clerical employees.

NEW enhancements to the Program:
  • Many options are available for extended reporting endorsements including an Unlimited Extended Reporting Period (ERP) option

  • FREE – 60 day extended reporting endorsement should you leave the program or your coverage lapses

  • Coverage for life settlements are now included
Additional Coverage Features Include:
  • No Restrictions on Number of Carriers

  • Prior Acts Coverage - 3 years of continuous E&O coverage qualifies for full prior acts subject to underwriting approval

  • Extended Claims Reporting Period - broadest available, including an Unlimited Extended Reporting Period to 10 year ERP

  • Consent to Settle
Expand Your Basic Coverage with Additional Benefits:
  • Mutual Funds Coverage with a maximum limit of $1,000,000 per policy

  • Financial Products (Stocks, Bonds, Limited Partnerships, Unit Investment Trusts) Coverage with a maximum limit of $1,000,000 per policy

  • Property and Casualty Insurance Coverage with a separate limit provided

  • Financial Planning: Coverage for financial planning activities is included with the policy for acts involving the sale of a covered insurance and/or securities product

Insurance License Information
© 2008 Affinity Insurance Services, Inc.
NAIFA-endorsed Professional Liability Insurance Program