NAPLIA’s unique Deductible Reduction Insurance Program allows representatives to reduce their deductible exposure to a manageable level — in some cases from $50,000 down to $5,000 — for as little as a few hundred dollars per year.
Framingham, MA (PRWEB) May 23, 2013
North American Professional Liability Insurance Agency, LLC (NAPLIA | naplia.com) announces an exclusive Deductible Reduction Insurance Program which effectively insures Registered Representatives, financial advisors, and RIAs for their high deductible obligations under their current broker/dealer professional liability programs.
Recruiting and retaining quality registered reps has become a significant priority for broker/dealers. Rising deductibles on errors and omissions insurance (E&O) challenges the retention of representatives who are not comfortable with the increased exposure, while also increasing the liability of both the rep and the broker/dealer.
This unique program developed by NAPLIA reduces high deductible exposures for financial professionals. While traditional broker/dealer E&O policies cover reps for their professional exposure, they unfortunately leave them with a large deductible exposure. This program has the ability lower the deductible by up to 90%.
This low-cost solution offers the following benefits:
- Drastically reduces the E&O deductible exposure of investment representatives
- Mitigates the financial exposure of reps
- Provides value in recruitment and retention of registered reps
“NAPLIA’s unique Deductible Reduction Insurance Program allows representatives to reduce their deductible exposure to a manageable level — in some cases from $50,000 down to $5,000 — for as little as a few hundred dollars per year,” says Gary Sutherland, CIC, CEO of NAPLIA. “Reps have been asking for the additional protection, and they are happy to absorb the minimal cost in order to secure this extra protection.”
To learn more about the Deductible Reduction Insurance Program, visit http://www.naplia.com/DRIP or contact Paul Smith, NAPLIA Vice President - Investment Advisory Division, at 508-656-1315 or pauls[at]naplia[dot]com.
NAPLIA is an independent, national insurance agency that provides errors and omissions, and other insurance products to the Financial and Accounting industries. Established in 1998, NAPLIA has become a leading provider of professional liability insurance through customer education. NAPLIA has been named to the Inc 5000, fastest growing private companies, annually since 2008. NAPLIA is a proud member of the Professional Liability Underwriting Society (PLUS), the Better Business Bureau, and holds the highest rating from Dun & Bradstreet for companies of their size. Please visit http://www.naplia.com for more information.