Life Insurance Agent Professional Liability Insurance

Professional Liability Insurance for Life Agents in Alberta, BC and Ontario

We offer Professional Liability Insurance for Life Agents.

Every provincial financial intermediary regulators, such as Alberta Insurance Council(AIC), Insurance Council of BC, Financial Services Regulatory Authority of Ontario (FSRAO) requires an active errors and omissions (E&O) insurance, as known as Professional Liability insurance policy.

AIC requires professional liability insurance coverage of at least $500,000 per claim with a maximum policy payout for all claims of $2,000,000 in a policy year.

The requirement for all insurance licensees in British Columbia is to maintain E&O(professional liability) insurance that includes minimum coverage of $1,000,000 per claim and $2,000,000 aggregate (“E&O insurance”) that extends to all insurance activities.

The professional liability policy must have minimum limit of $1 million for a single occurrence in Ontario. The requirement by FSRAO looks simple but it is almost same as other provinces.

Life insurance agents are not allowed to do business without Errors and Omissions (E&O) insurance in their province. This is protection for consumers as Errors and Omissions do happen. The provincial governments mandate is to offer financial security to the public from financial desatar caused by life insurance agents’ errors and omissions.

Life Insurance Agents including Life and Accident coverages and investments (Standard carrier offering)


  •  No association fees are required
  •  Premiums as low as $500 for the E&O 
  •  Limits of $5 million are available 
  •  Defense costs coverage in addition to the policy limit 
  •  First dollar defense coverage 
  •  Coverage for dishonest/criminal acts committed without employer’s knowledge 
  •  Extended reporting period 60 days automatic and optional extension up to 3 years 
  •  Domestic carrier with A-rating from AM Bests 
  •  Simple application process and “fast” quote turnaround

 TARGET RISKS: Life Insurance Agents – any fee size

Contact us for a competitive quote on on an upcoming renewal, a new agent, or any assistance for life insurance agent’s professional liability insurance.