National Ethics Bureau (NEB) Introduces Groundbreaking Errors & Omissions Insurance Program for Preferred- Risk Financial Professionals.

Low-risk agents can now save up to 50% on their E&O insurance premium, according to industry ethics group.

SAN DIEGO, CA, October 24, 2008—Agents can purchase coverage under a new product to be issued by Continental Casualty Insurance Company (CNA) and administered & offered by Marsh Consumer, a service of Seabury & Smith. Coverage under this product will cost up to 50% less than comparable coverage for higher risk individuals.¹

Preferred Risk E&O™ substantially lowers the cost of E&O insurance for insurance agents. Reason: It allows agents to pay a premium commensurate with the risk they pose to the insurer. Since applicants have favorably answered a comprehensive series of background questions, CNA’s premium is substantially lower than the premium charged for non-qualifying risks.

“Preferred Risk E&O™ is the next-generation of professional liability insurance for insurance professionals,” says Steven R. McCarty, National Ethics Bureau Chairman. “Now that high-risk agents are purged from the pool, low-risk agents can get a much better deal.”

Preferred Risk E&O™  provides a $1,000,000 limit of liability for each claim and a $2,000,000 individual insured annual aggregate limit, and deductibles start at just $500 per insured for life, accident, and health products.

You may select from three levels of protection as follows:

• Package A covers activities relating to life, accident, and health insurance for a total annual cost of only $495, which includes premium plus NEB administrative fee (see below).**
• Package B covers all of the above plus indexed and fixed annuities for a total annual cost of $595 which includes premium plus NEB administrative fee (see below).**
• Package C covers all of the above, plus mutual funds and variable life/annuities for a total annual cost of $695, which includes premium plus NEB administrative fee (see below).**

Agents who have purchased either Package A, B, or C may also add disability income insurance coverage to their plan for an additional total annual cost of $50, which includes premium plus NEB administrative fee (see below).**

Agents who have purchased Package C may also add registered investment advisor representative coverage (which includes the sale and servicing of mutual funds, variable products, stocks, and bonds) for an additional total annual cost of $400, which includes premium plus NEB administrative fee (see below).**

Not only is CNA offering these competitive rates to agents, it has also agreed to provide a host of innovative features, including:

• Post-retirement claims for no additional premium
• Notary Public activity
• Legal fees, court costs, and costs of appeal
• Coverage extended to spouses, domestic partners, beneficiaries, estate, or legal representatives for claims arising out of their status as such
• Employees or administrative personnel if acting on behalf of insured
• Severability for all personal conduct exclusions
• Coverage for failure to supervise, manage, or train
• Acting as a fiduciary advisor for ERISA plans
• Fee-based financial planning services ancillary to professional services

Other features include:

• Competitive rates
• Unlimited extended reporting period
• Individualized coverage options
• Optional coverage for the sale and servicing of mutual funds, variable products, stocks, and bonds by a Registered Investment Advisor (series 65) if purchased
• Optional coverage for discretionary authority is provided to Registered Investment Advisors for professional services as defined under the policy

(Note: To see Policy for complete list of coverage and exclusions click here.)

Preferred Risk E&O™ also offers flexible payment options through Marsh Consumer, including annual pay with credit card, annual pay by check, and monthly payments via checking account or credit card. Monthly payments require an additional $5.00 monthly processing charge.

Standing behind Preferred Risk E&O™ insurance offering are two of the strongest players in the marketplace. The underwriter is CNA, the 7th largest U.S. commercial insurer and 13th largest U.S. property & casualty insurer. CNA provides insurance protection to more than 1 million businesses and professionals in the U.S. and internationally.

The plan offerer & administrator is Marsh (a service of Seabury & Smith) is part of the family of MMC companies. With 24,000 employees and annual revenues approaching $5 billion Marsh serves more clients in more industries worldwide than any other firm in our industry.  Marsh works with businesses, public entities, organizations, and private clients in over 100 countries.

Applicants can purchase coverage quickly and conveniently using a dedicated Marsh online application. To learn more, visit www.eoforless.com or call Marsh Consumer at (866) 795-2041.

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¹According to a 2008 NEB marketing analysis, most advisors pay from $800 to $1,200 annually for Life, Accident, Health, and Fixed Annuity E & O insurance coverage. Therefore, the NEB equivalent of $595 (annual, non-member) represents a potential annual savings of 20% to 50%.