Marsh Canada is pleased to provide a general insurance program adapted to the needs of the Life, Accident & Sickness or Mutual Fund Agents in Canada. This insurance program provides some of the country's leading Risk Management Services and Coverage Features for Errors and Omissions Insurance. What is Errors and Omissions Insurance? E & O Insurance is intended to protect your company as well as your clients. It protects your assets from claims resulting from errors and omissions in the rendering of insured services. In the case of your clients, it gives them peace of mind that they have some sort of recourse in the event that they have a claim. Errors and Omissions coverage does not cover all errors and bad business decisions, nor does it provide coverage even in the absence of a claim from a third party; however it does cover most other accidental errors, omissions or negligent acts. In the case of Estate Planning, RRSP's, or Financial Planning, the policy would respond to a covered claim resulting from an error, omission or negligent act. In provinces other than Ontario, Manitoba, Saskatchewan, Quebec and Newfoundland (where this coverage is a legislated necessity for this industry) please talk to your insurance broker, in detail, to determine whether your company can benefit from Errors and Omissions Insurance. Some examples of situations that would give rise to a claim include: A consultant receives a client request and fails to implement the client's instructions in a timely manner. This results in a loss of gain on investment. An annuity rate is confirmed to a client, but is not obtained due to a delay by the consultant in processing the order. A lower rate results in a loss to the client. A client requests premium back on whole life insurance policy because they state that it did not meet their objectives. A client claims a consultant failed to advise on tax consequences of selling mutual fund units. The client ends up owing taxes, instead of receiving a tax refund as they expected. A client has to pay a penalty to Revenue Canada for an excess RRSP contribution and claims against the consultant.