E&O Insurance for Financial Services Companies

HUB International HKMB has partnered with AXIS Reinsurance Company (Canada) to provide competitive terms and pricing of Errors and Omissions (E&O, or Professional Liability) coverage for your company (Corporate E&O).

If you already purchase Life, A&S, Segregated and or Mutual Funds E&O coverage for yourself, and have an Axis certificate, you may have access to even more competitive pricing.

Simply download, complete, and submit the application along with any required additional information to HUB HKMB. We will provide you with a quote upon Axis’ acceptance of the risk.

This coverage is in addition to E&O coverage you carry as an individual licensed advisor.

While your individual E&O insurance may provide some coverage to your licensed company under certain circumstances, this coverage may not satisfy regulatory requirements in your province. You should talk to your broker about coverage extensions under your individual E&O, and also check with Provincial regulators to understand what is required for your licensed company.


Cost of coverage will vary depending on the size of your business and the professional services that it offers. You must submit an application to receive a quote.

Corporate E&O is typically more expensive than individual E&O. However, the HUB HKMB program provides very competitive rates and policy terms. Also, policies will be provincially compliant at no extra cost, with the exception of minimum regulatory limits in Manitoba.  Ensure that all provinces in which your company is licensed are indicated on the application.

If your company is licensed in Manitoba, the Provincial regulator requires that you carry a minimum limit of $1M aggregate per claim/$5M aggregate per policy period.

Corporate E&O

People or businesses that provide professional services are held to a higher standard of care; this is often why you and your business must be licensed to provide these services. Errors & Omissions (E&O) or, Professional Liability insurance covers actual or alleged errors, omissions or negligent acts that occur in the rendering of professional services to clients.

HUB HKMB’s program provides Corporate E&O coverage for ‘Financial Services’ firms or companies that provide Licensed Life, A&S, Segregated or Mutual funds, or Securities Registered professional services. This coverage is in addition to E&O coverage you carry as an individual licensed advisor.

The need for Corporate E&O is based in exposure, and regulatory requirements. Some Provincial Regulators require a Life Licensed company to have coverage of its own or dedicated limits for the company under a separate E&O policy. Check with the regulators in the province(s) in which your company is licensed.

In recent years, the risk for this exposure has increased, with more claims that name a company (vs the individual) directly. 

If there is no E&O insurance in place for the company, the cost of defending and settling a claim becomes a company expense, or comes out of the Principal’s pocket. Even if a claim is groundless, a defence must be provided. Defence costs can be the most expensive part of a claim.

Contact Us

Your Trusted E&O Advisor:

Lesley Strong, Manager, Executive Protection

B 416.597.4593