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Insurance Brokers
Victor’s Errors and Omissions (E&O) insurance protects insurance brokers against allegations of errors, omissions and negligent acts.
Eligibility
- Licensed insurance agents and brokers
Coverage Details
- Policy Form – Claims-made and reported
- Policy Period – Annual and multi-year policies
- Capacity – Limits up to $10,000,000 available with many attractive deductible options (higher limits also available upon request)
- Territory – Services rendered and claims made anywhere in the world
Policy Features
- Policies comply with current provincial regulatory requirements
- Loss of earnings coverage (up to $500 per day) for an insured when requested to attend discoveries, mediation and/or trial as part of the defence of a claim
- Disciplinary matters coverage, subject to a sublimit of $25,000
- Penal defence costs reimbursement, subject to a sublimit of $50,000
- Outside directorship coverage (ODL) for non-profit organizations, subject to a sublimit of $500,000
Additional Policy Features for Small Firms
- Coverage is available for small firms with annual revenues of less than $2,000,000 that are claims free.
- Maximum limit of $2,000,000
- Zero dollar deductible
Additional Coverages Available
- Incidental Life Agent Coverage for General Insurance Brokers
- Hail Insurance
- Travel Insurance
- 3D Fidelity Bond Coverage
- Employment practices wrongful act liability coverage endorsement available for firms with less than 50 employees
Submission Requirements
- A completed Victor Insurance Agents and Brokers application form
- For Quebec, a completed Victor Insurance Agents and Brokers and Insurance Adjusters application form