Richardson GMP Agents Program


Professional Liability Insurance or, Errors & Omissions (E&O) Insurance, covers actual or alleged errors, omissions or negligent acts in your rendering of professional services to clients. By establishing this program, Richardson GMP Ltd./Richardson GMP Insurance Services Ltd. is taking proactive measures to safeguard your credibility, reputation and personal liability as an Advisor.



  1. You must be employed by Richardson GMP Ltd./Richardson GMP Insurance Services Ltd. (Richardson GMP)
  2. You must be a licensed Life Insurance Agent and/or Accident and Sickness Agent and/or;
  3. You must be a registered representative of IIROC 

Who else is granted coverage under the Advisor’s certificate?

  1. Licensed and unlicensed assistants of the agent, while acting in their duties as such.They do not maintain their own book of business, nor perform agent professional services as defined under the policy.
  2. A manager or supervisor of the agent, but only with respect to liability arising out of the agent’s activities in their (the agent’s) performance of professional services as defined in the policy.
  3. Spouses, Estates and legal representatives of the agent under specific circumstances.


Policy Period: 12:01 a.m. May 15th, 2016 to 12:01 a.m. May 15th, 2017

Limits:  See the "Cost" Tab for limit options and premiums.

Deductible: $1000 Life, $10,000 Securities.

Defense Costs: Included within the limit of liability.

Prior acts: Full Prior Acts, subject to a Prior and Pending Litigation Endorsement Exclusion (some conditions may apply for members with current or prior claims history).

Coverage for Regulatory Investigation Included for both Life and Securities related investigations, $25,000 sublimit for defense costs only.

Extended Reporting Period Coverage for Cessation of Business: 1-10 years is available for purchase.

PrivaSure Privacy Breach Protection Coverage (Optional): $50,000 limit, $5,000 deductible for privacy breach coverage $75 Additional Premium. Click here to view a PrivaSure Sample Endorsement.

Corporate E&O:   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 the provinces where your company is licensed.

If your corporation is a ‘personal corporation’ and is licensed in the provinces of Saskatchewan, Newfoundland, or Quebec, it  cannot share limits with you, and must have its own separate limit of insurance.  This application for this is done separately, and can be obtained from, there is an additional premium cost associated with this.

If your corporation is licensed in other provinces, you may be able to include your corporation under “Personal Corporation” on the application, which will allow your personal corporation to share a limit with you.

“Personal Corporation” means a corporation owned solely by the Insured Individual, or their spouse, and exists for the purpose of limiting personal liability. A Personal Corporation does not have partners or employees.  

Program Insurer

This policy is underwritten by AXIS Reinsurance Company (Canadian Branch). A leader in financial institutions Professional Liability insurance. AXIS Reinsurance Company is rated A+ (Superior) by A.M. Best Company as at April 19, 2016 for financial strength. 


Payment now by Visa or Mastercard


**Premiums will be fully earned. This means that if you are to cancel coverage mid-term, there will be no return premium, however, your coverage will stay in place until the expiry date in the form of a "run-off" or extended reporting period.

Securities + Life Dedicated Limits

  • Dual licensed Advisors will make two selections, one for their Life Coverage, and one for their Securities coverage

Pricing Chart

Premiums are fully earned.

Securities Only

  • Coverage for IIROC registered Individuals

Pricing Chart

Premiums are fully earned.

Life Only

  • Coverage for Life, A&S and Segregated Funds Licensed Individuals

Pricing Chart

Premiums are fully earned.

Licensed Assistants

  • Coverage for Licensed Life Assistants
  • Coverage for Dually Licensed Assistants
  • Assistants must not maintain their own book of business

Pricing Chart

Premiums are fully earned.

Ask an Advisor

Your Trusted E&O Advisor:

Yasir Baqa, Account Assistant

B: 416-597-7706
F: 416-597-3791

For brokers residing in Quebec:

Annie Bourdages
Tél. : (514) 284-8080



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