Firms and financial services

Insurance for financial services representatives and firms

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1.800.470.2504 info@protecpro.ca
Office environment within a firm providing financial services to clients. Illustration of protection and insurance needs for professional services in Québec.

Coverage adapted to professional realities

In financial services, a mistake in advice or an oversight in a client file can lead to a claim. Defence costs can add up quickly, even when no fault is proven.

Professional liability insurance, also known as errors and omissions insurance (E&O), protects financial representatives and advisors against claims related to their activities. It covers legal fees, settlements and defence costs.

The program adapts to your profile:

  • Self-employed representative
  • Single firm
  • Regular firm
  • Administrative assistants and additional insureds

Covered activities include:

  • Life and health insurance
  • Mutual funds and financial planning
  • Mortgage brokerage
  • Damage insurance, under certain conditions
  • Exempt market, under certain conditions

The program meets the requirements of the Autorité des marchés financiers (AMF) and the regulatory obligations of each province. It is valid in Quebec and across Canada.

Is your association or firm a program partner? Preferential rates for your E&O insurance may be available.

Discover available discounts

Protections included in the program

See what the program covers
  • Professional liability (E&O): facing a claim for an error, omission or negligence in your advice? Coverage includes legal fees and settlements.
  • Legal and defence fees: defence costs are covered when a file is opened, even if no fault is found.
  • Cyber-risk protection: two endorsements are included depending on your profile. One covers social engineering fraud. The other covers extortion payments.
  • Disciplinary proceeding fees: facing a complaint with the Autorité des marchés financiers (AMF) or another regulator? Defence fees are covered.
  • Directors and officers (D&O) protection: it protects board members and firm executives in the performance of their duties.
  • Multi-province coverage: the program includes the mandatory endorsements required by each Canadian province. One policy covers your activities across Canada.
  • Extended reporting period: when your permit ends, a coverage period is maintained at no additional cost, according to applicable provincial rules. 

Benefits of the financial services program

Discover the program benefits
  • No deductible: self-employed representatives and single firms benefit from a policy with no deductible.
  • Legal fees covered: defence fees are covered when a file is opened, even if no fault is found.
  • Protection during disciplinary proceedings: facing a complaint with the Autorité des marchés financiers (AMF) or an equivalent organization? Defence fees are covered.
  • Preventive legal assistance: access legal advice before a situation escalates.
  • Cyber-risk coverage: protection against social engineering fraud and extortion payments. Certain conditions apply.
  • Directors and officers (D&O): insurance protects firm executives and board members in the performance of their duties.
  • Fast claims service: a team specialized in professional liability and errors and omissions insurance handles your file.
  • Available across Canada: endorsements required by each province are included. One policy covers all your activities, in compliance with local regulatory obligations.

Benefits included on policies for representatives. Certain conditions apply.

Benefits available for firms upon request, except for the no-deductible option. Certain conditions apply.

Members of partner associations and firms benefit from preferential rates in the program.

Organization
  • Advice Only Planner Group
  • AJ Insurance
  • Allen Wong & Associates
  • APCSF
  • Association de la Relève en Services Financiers (anciennement RJCQ)
  • Assurance Robillard (Infoprimes)
  • CABN
  • CMA
  • Diversico
  • Épargne CST, Succ 510
  • Épargne CST, Succ 612
  • Financial Horizon
  • Financial Planning Association of Canada
  • FSE Financial Group
  • Gr. Financier Boulos
  • Groupe Agenz
  • Groupe Cloutier
  • Groupe Thibault
  • LaCorpo
  • MICA Services Financiers
  • Monarch Wealth Corp.
  • Moreau Gignac
  • MSA Financial
  • QFS

Save with available discounts

Your La Turquoise broker helps you find discounts that may apply to your situation. Savings vary based on your profile and coverage. They can help you lower your premium.

Welcome to ProtecPro

The Financial services program is one of ProtecPro’s flagship programs, our division dedicated to regulated professionals.

View details
  • Speed: Available exclusively online, our program lets you get a quote quickly while still having access to advice from our dedicated team.
  • Adapted coverage: An insurance program adapted to the requirements of different associations and regulatory organizations in the sector.
  • Competitive rates: Competitive pricing for self-employed workers and salon owners.
  • Peace of mind: The experience of our brokers helps you identify protections adapted to your practice.
  • Specialized service: We support you in the event of a claim and at each new stage of your business. 

Your questions about insurance for financial services representatives and firms

Questions about E&O insurance come up often. This section provides clear answers. Coverage, obligations and protection : find the information you need.

Yes. The Act respecting the distribution of financial products and services requires it. The following profiles must hold compliant insurance:

  • Firms
  • Self-employed representatives
  • Independent partnerships

This obligation applies when renewing a permit with the Autorité des marchés financiers (AMF). A representative attached to a firm without being employed by it must also be covered for all their activities.

Yes. The program covers activities carried out across all Canadian provinces.

Here is what is included:

  • Mandatory endorsements required by each province
  • Limits adjusted to local regulatory requirements
  • One policy for all permits held in Canada

No additional steps are required to comply from one province to another.

Yes, this is possible. Here is how it works:

  • A broker updates your contract to cover your personal activities and those of your new firm. A few questions help determine whether a premium adjustment applies.
  • Changes take effect quickly.

Contact your La Turquoise broker to start the process.

A policy update is required in this case. A written request with the signature of the shareholder concerned is required at renewal. However, the signature is not required if the shareholder is no longer listed with the Registraire des entreprises du Québec. Contact your broker to process the change quickly.

  • The quote is completed online on the ProtecPro platform. The process is simple and quick. Required information includes your personal information, your firm information and your revenue by discipline in the provinces where you hold a permit.

Once the quote is submitted, a broker specialized in financial services takes charge of your file. They can also support you by phone or email if you have questions along the way.

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