An advisor, who places business with Standard Life must maintain, at all times, at his/her own expense, Errors and Omissions (E&O) insurance coverage. The type and minimum coverage required is pursuant to applicable statutory and regulatory requirements.
If your jurisdiction does not require E&O insurance, Standard Life requires that you obtain E&O with a minimum of one million dollar coverage per claim.
For a corporate Distributor who offers structured settlements, the minimum limit of coverage per claim is two million dollars with a minimum aggregate limit of four million dollars, exclusive of defence costs.
E&O for Corporate Entities
In certain jurisdictions entities must also maintain E&O coverage. If you are contracted as a corporation, we require that you obtain and maintain E&O for your corporation pursuant to applicable statutory and regulatory requirements.
For more information on your office's coverage, please view Q&A, developed by CLHIA and advisor associations (Advocis, CAILBA and IFB).
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