Errors & Omissions Insurance for Individual Life Insurance Agents, Registered Reps and Investment Advisors


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Why Buy this coverage?

  • Great Insurer- Rated A (Excellent): XV by A.M. Best
  • Higher Limit options available – up to $3,000,000 each claim
  • Affordable Rates* as low as $420 a year or $44 a month
  • Low Retentions as low as $500
  • Prior Acts Coverage Included - back to date of first continuous E&O policy
  • Menu approach to coverage – only pay for what you want
    • Basic Coverage: Life, Accident & Health Insurance and Long Term Care Products through an Insurance Company
    • Option A: Indexed Annuities/ Fixed Annuities
    • Option B: Variable Annuities/Variable Insurance and Mutual Funds
    • Option D: Registered Investment Adviser, Stocks, Bonds, Variable Annuities/Variable Insurance and Mutual Funds
  • Broad Coverage includes:
    • Agent as a General Agent
    • Retired or Disabled Agents
    • Licensed and unlicensed support staff
    • Notary
    • Financial Planning
    • Estates, heirs, assigns, legal representatives and spouses or domestic partners
  • Unlimited ERP at no additional charge - Extended Reporting Period if insured under the policy for at least six months and not terminated for a disciplinary reason and not insured elsewhere

Need help or have more Questions? We’d Love to talk to you!
Call us at (866) 277-7162 or Email: CustomerService@InterWebInsurance.com


The Who, What Where Why and How about this coverage

  • Company Affording Coverage
    • Continental Casualty Company
    • Rated A (Excellent): XV by A.M. Best
    • An admitted carrier
  • Prior Acts Coverage
    • Date of first continuous professional liability policy
      (Subject to proof to insurer at the time of notice of claim)
  • Limits of Liability Options- Each Insured
    • $1,000,000/$2,000,000 each claim/Aggregate
    • $2,000,000/$3,000,000 each claim/Aggregate
    • $3,000,000/$3,000,000 each claim/Aggregate
  • Retentions
    • $500 each claim for Life, Accident & Health Products
    • $2,500 each claim for Disability Income Insurance
    • $5,000 each claim for all other products or services
    • Applies to Damages and Defense Costs
  • Policy and Per Claim Aggregate*
    • Policy Year Aggregate*: $15,000,000
      The amount set forth as the Policy Year Aggregate Limit of Liability shall be the maximum Aggregate
      Limit of Liability of the Insurer for each Policy Year, regardless of the number of Insureds, claims made, or persons or entities bringing such claims. The policy Year Aggregate Limit in effect at the time a Certificate of Insurance is issued shall be the applicable Policy Year Aggregate Limit for such Certificate of Insurance regardless of when such Certificate of Insurance expires.
      Per Claim Aggregate*:
      Each Insured’s applicable Limit of Liability shall be the maximum Limit of Liability of the Insurer for such Insured, regardless of the number of Insureds, Certificates of Insurance, Claims made, or persons or entities bringing such claims. The per claim Aggregate Limit in effect at the time a Certificate of Insurance is issued shall be the applicable Policy Year Aggregate Limit for such certificate of Insurance regardless of when such Certificate of Insurance expires. Further, where two or more Insureds are involved in a Claim, the maximum Aggregate Limit of Liability of the Insurer for all such Insureds shall be the largest single Limit of Liability applicable to any one of such Insureds.
  • Defense Costs
    • Inside the Limits of Liability
  • Coverage
    • Basic coverage: Life, Accident & Health Insurance and Long Term Care Products through an Insurance Company (that does not require a securities license) (must be purchased in order to select other options)
    • Options A-D provides additional coverage for:
      • Option A: Indexed Annuities/ Fixed Annuities
      • Option B: Variable Annuities/Variable Insurance (that requires a securities License) and Mutual Funds (If Registered Representative Only).
      • Option C: Disability Income Insurance
      • Option D: Registered Investment Adviser, Stocks, Bonds, Variable Annuities/Variable Insurance (that requires a securities license) and Mutual Funds (must be a Registered Investment Advisor)
  • Covered Parties
    • Agent or General Agent
    • Retired or Disabled Agent or General Agent
    • Registered Representative and/or Registered Investment Advisors, but solely for those Professional Services defined in the policy;
    • Licensed support staff performing enrollment services.
    • Your coverage is extended to your estate, heirs, legal representatives, assigns, spouses or domestic partners. Such Coverage is afforded only for a covered claim arising out of your wrongful acts.
  • ERP Options
    • If you were insured less than six (6) months, you will have an automatic 90 day Extended Reporting Period (ERP). If you have been insured for at least six (6) months under the policy, provided you have not secured coverage elsewhere, you are entitled to an unlimited duration ERP at no additional charge. The applicable ERP is with respect to a claim made during such ERP arising out of a wrongful act committed after the applicable prior acts date but before the termination date. Wrong act means any negligent act, error or omission of, or personal injury caused by, the “Insureds” in rendering or failing to render professional services.
  • Professional Services Means:
    • With respect to an Agent or General Agent:
      • The sale, attempted sale or servicing of life insurance, accident and health insurance, long term care products through any insurance company (that does not require a securities license) managed health care organization contracts, preferred provider organization contracts, Medicare advantage plans, medical care supplemental insurance;
      • The sale, attempted sale or servicing of Disability Income Insurance (if purchased);
      • The sale, attempted sale or servicing of Indexed/fixed Annuities (if purchased);
      • Financial Planning activities in conjunction with services described above (if purchased), whether or not a separate fee is charged.
      • Services as a notary public;
      • The supervision, management and training of an agent by a general agent with respect to activities otherwise covered by this policy;
    • With respect to a Registered Representative or a Registered Investment Adviser:
      • The sale, attempted sale or servicing of a variable annuities, variable insurance (that requires and securities license) or mutual funds (if purchased) that are registered with the Securities Exchange Commission, if required, through a Broker/Dealer that is a member of FINRA;
      • Financial Planning activities in conjunction with services described above, whether or not a fee is charged;
      • The sale, attempted sale or servicing of stocks traded on a public stock exchange, and bonds, by a Registered Investment Advisor, (if option D is purchased);
      • RIA coverage does not include investment advice provided by a Fiduciary Adviser if such investment advice is not provided pursuant to and in accordance with all of the requirements of the Pension Protection Act of 2006.
  • Awareness Provision
    • Offers protections by allowing you to report a circumstance so that a claim arising out of that circumstance will be deemed applicable to coverage period when such circumstance was reported.
  • Program Administrator
    • InterWeb Purchasing Group

What’s Not Covered?

  • Pending or Prior litigation;
  • Insured vs. insured;
  • Intentional acts;
  • Bodily injury/property damage;
  • Contractual liability;
  • Promises/ guarantees as to rates and/or market value;
  • Acts as an actuary, accountant, attorney, property/casualty agent, real estate agent, or third party administrator, market maker or specialist in any securities;
  • Tax advice, except as incidental to provision of professional services;
  • Failure to pay/collect funds;
  • Fee/commission disputes;
  • Commingling/illegal profit;
  • Insolvency, except defense for claims arising from placement of coverage with an admitted insurer with an AM Best Rating of “A-“ or better at time of placement;
  • Own Benefit plan/ERISA;
  • Design of employee benefit plans;
  • Administration of employee benefit plans;
  • MEWAs or self-funded benefit plans;
  • Commodities, futures or any type of option;
  • Promissory notes, ETS pay phone or similar type investments;
  • Viaticals, life/structured settlements
  • Issuer-callable CDs and/or equipment sale-lease- buy-back transactions of any kind;
  • Stranger Originated Life Insurance (STOLI) or Speculator Originated Life Insurance (SPIN-LIFE) or similar Transactions;
  • Employee benefit plans (other than Group Life & Group Health
  • Limited Partnerships, REITs, TICs, 1031 exchanges, Unit investment trusts, auction rate securities
  • Exchange traded funds, inverse or leverage exchange traded funds, exchange traded note;
  • Any life insurance policy in which the premium was paid for in whole or in part by or through and premium finance mechanism or any premium finance company;
  • Discretionary Authority, except as RIA;
  • Pollution/Nuclear;
  • Anti-trust/price- fixing;
  • Misuse of confidential information;
  • Activities or products when/where not licensed, except placement of surplus lines;
  • Investment banking activities
  • Securities below Minimum Capitalization Levels for listing and maintenance on the NASDAQ SmallCap Market;
  • Proprietary products/funds;
  • Advice as a fiduciary advisor not in accordance with Pension Protection Act of 2006
  • Wrongful Employment Practices;
  • Investments in any security that is not registered with the SEC, except those that are both exempt from registration and approved by the Broker/Dealer;
  • Hedge Funds of any kind;

Professional Services do not include:

  • Claims brought by regulators;
  • Claims brought by broker/dealer;
  • Reverse mortgages;
  • Variable annuity churning;
  • Sale/attempted sale of securities other than Variable Annuities/Variable Insurance (that requires a securities license) and mutual funds, Stocks (traded on public exchange) and Bonds is corresponding Option(s) is purchased.

Need help or have more Questions? We’d Love to talk to you!
Call us at (866) 277-7162 or Email: CustomerService@InterWebInsurance.com

Have Questions? We have the Answers!

Need help or have more Questions? We’d Love to talk to you!
Call us at (866) 277-7162 or Email: CustomerService@InterWebInsurance.com


What do you need to Enroll?

We would like to help guide you through our simple Seven Step online enrollment process. Before you get started you will need to have the following ready:

  • Know your desired Effective Date
  • Have an active Email Address - Certificates, correspondence, receipts and renewal notices will be sent to the email address provided
  • Have your Credit card ready - We accept Visa, Master Card and American Express. If you would like to pay with a check you will need to contact Customer Service for additional assistance
  • Have your Agent License Number ready - This is mandatory; you will not be able to proceed without providing your agent license number
  • If you are a Registered Rep or Registered Investment Advisor please have your CRD number ready - Please note: You will not be able to purchase the RIA or Registered Rep coverage if you fail to provide your CRD number. If you are not a Registered Rep or an RIA this does not apply to you

What is the qualifying Criteria?

This E&O program is an instant eligibility program. If you are able to answer the following questions 1 Yes and 2-10 No, you are automatically eligible for coverage. If you are not we have another program that you may qualify for.

If you have any questions, or if you are unable to answer the above questions as indicated, please contact Customer Service at (866) 277-7162 or email: CustomerService@InterWebInsurance.com or CLICK HERE to apply for alternative coverage.