Woodbury Errors and Omissions
In the investment world, leaving risks unprotected can threaten even the most successful individual. Woodbury Financial Services Registered Representatives have the experience and expertise to help you manage such risks to keep your personal assets secure. Our errors and omissions specialists will keep you informed on a daily basis to protect you from the threat of costly lawsuits.
Manage Risks and Protect Yourself from Costly Lawsuits Caused by Errors and Omissions
The master policy provides coverage on a claims-made basis to all participating registered representatives and offers monthly enrollment periods for a prorated annual premium. Defense costs have no deductible for proprietary and life products and the low deductible applies to actual damages.
Who Is Covered?
- Representatives who sell, attempt to sell, and service life, health, accident insurance, variable annuities, and mutual funds through any product manufacturer, as well as through Woodbury Financial Services, Inc.
- Corporations, partnerships, or other business entities owned or controlled by you, as well as your employees and licensed support staff, including general agents of Woodbury Financial Services when hiring, training and supervising representatives
- Investment advisors, financial planners, or consultants
Protect yourself for a fixed annual expense each year.
Program Benefits -- Limits
$1,250,000 limit on each wrongful act per registered representative
$2,000,000 limit each wrongful act per registered representative
- or -
$3,000,000 limit each wrongful act per registered representative
$3,000,000 maximum limit each wrongful act for claims involving more than one representative
$75,000,000 total policy aggregate for all representatives
Prior Acts
This applies to claims arising from errors and omissions committed on or after the first date that a registered representative has maintained an errors and omissions policy continuously in force. There is no prior acts coverage for pending or prior litigation and/or claims, lawsuits, or potential claims that a registered representative had knowledge of at the time of joining the Woodbury E&O Insurance Program.
How to Enroll
The policy term is August 1, 2008 to December 1, 2009. You may enroll mid-term, effective the first of every month until the next anniversary date. Your premium will be prorated to the next anniversary.
On-Line Enrollment
Coverage begins the first day of the month following receipt of your completed application and payment. If you withdraw from the program during any policy year, all premiums are fully earned and there is no refund. You can review the policy summary here. An extensive summary is available by clicking on any of the policy links below.
See answers to common questions.
This web page provides only summary, generalized information regarding the errors and omissions coverage offered. This coverage is subject to exclusions, limitations, terms and conditions specified in the policy. For complete terms and conditions, please read the policy. This web page is not intended to interpret the terms of the policy or to be legal advice. This web page does not constitute a promise to insure and is only offered as information on coverage that may be offered.