North American Professional Liability Insurance Agency, LLC (NAPLIA) Announces Strategic Alliance with DALBAR, INC
Framingham, MA (PRWEB) July 31, 2013 -- DALBAR, Inc. and North American Professional Liability Insurance Agency, LLC (NAPLIA) have formed a strategic alliance offering DALBAR 3(38) Certification and reduced costs on professional liability insurance.
The DALBAR 3(38) Certification is the only recognized program of its kind that provides investment managers with a powerful combination of due diligence and compliance disclosures to lower the fiduciary liability for both managers and plan sponsors under ERISA section 3(38). Registered Investment Advisors must achieve the highest standards of practice and performance to qualify for the DALBAR certification. The alliance of DALBAR and NAPLIA combines the industry’s most marketable recognition with comprehensive insurance protection.
This one-of-a-kind program offered by DALBAR is focused on highly-committed Advisors seeking to take on ERISA 3(38) responsibilities at the highest standard of competency. The certification is now officially recognized by “A”-rated insurance carriers that work with NAPLIA. Professional liability insurance discounts are as high as 25 percent for qualified Advisors and will be available exclusively through NAPLIA when DALBAR certification is maintained.
“Our colleagues in the professional liability insurance underwriting community have reviewed the DALBAR program and clearly recognize its risk management benefits,” said Gary Sutherland, CEO of NAPLIA. “These highly qualified Investment Advisors are rewarded for their achievement with professional liability insurance discounts, and NAPLIA has the assurance that these applicants are competent and experienced. It’s a win-win arrangement.”
“The lower cost of fiduciary liability protection adds a critical element to our rigorous 3(38) Certification process. We appreciate the value that this greater protection brings to the DALBAR certified managers and the economic incentive that the alliance provides for advisors to do it right,” said Louis S. Harvey, DALBAR’s President and CEO.
For more information, please see additional details at http://www.naplia.com/dalbar.
About NAPLIA
NAPLIA is an independent, national insurance agency that provides professional liability and errors and omissions insurance and consulting services to Investment Advisors, Third party Administrators, and Broker/Dealers. 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.
About DALBAR
DALBAR, Inc. is the financial community’s leading independent expert for evaluating, auditing and rating business practices, customer performance, product quality and service. Launched in 1976, DALBAR has earned the recognition for consistent and unbiased evaluations of investment companies, registered investment advisers, insurance companies, broker/dealers, retirement plan providers and financial professionals. DALBAR awards are recognized as marks of excellence in the financial community. Please visit http://www.dalbar.com for more information.
Alexandra Swan, North American Professional Liability Insurance Agency, LLC, http://www.naplia.com, 508-656-1304, [email protected]
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