Aon Sponsored 
Professional Liability Program

The E&OPro Professional Liability Program is specially designed for you as a licensed life, accident and sickness advisor, mutual fund advisor, exempt market products registrant or IIROC registered advisor.

The E&OPro program is now underwritten by TruStar Underwriting Inc. TruStar is an independently owned specialty Managing General Agent ("MGA") and an emerging leader in financial agents' professional liability underwriting. Since its launch in 2018, TruStar has quickly become a recognized and awarded MGA that deploys some of the market's most reliable insurance capital. TruStar's professional lines underwriting group has partnered with Arch Insurance Canada Ltd. The Sovereign General Insurance Company to deliver the unique insurance requirements and claim services that make E&OPro one of Canada's more comprehensive professional liability solutions available to financial agents.

TruStar is a member of the Canadian Association of Managing General Agents (CAMGA) and is licensed to conduct business in all provinces and territories. Arch has an A+ rating with both S&P and AM Best. Sovereign has an A- rating with AM Best.

• Delivers one of the most comprehensive and competitive E&O programs the industry has to offer
• Fee for Service Financial Planning Services option available for non-licensed advisors who hold a CFP or RFP designation (IQFP designation for Quebec residents).
• Defense Costs coverage for regulatory investigations limit of $50,000. No deductible applies.
• Available extensions for Tax Preparation Services* to the general public and Fee for Service Financial Planning not tied to existing insurance or investment clients**
• Privacy and Cyber Liability insurance sublimit options of $50,000 and $100,000
• 10% discount for licensed advisor that are within their first year of licensing – must provide a copy of your license indicating that you are new to the industry in order to receive discount.
• Divorce mediation included at no extra cost for agents with CDFA and FDS designations
• $100,000 limit per claim (with a $1,000,000 policy aggregate) for Accidental Death & Dismemberment (AD&D) coverage included at no extra cost
• Defence costs in excess of the limit of liability up to a maximum $1,000,000 per insured
• Vicarious liability for the advisor’s personal corporation or firm
• Coverage extends to any employee of the insured, including licensed and unlicensed assistants while acting in their duties as such
• Reduced rate options for life licensed assistants
• Extended reporting period options of one to 10 years

      * Advisor must utilize CRA approved software. Coverage available for Personal Tax Returns only.
      ** Advisor must hold a CFP of RFP designation.

Program Highlights and Benefits

Professional Liability insurance, also known as Errors and Omissions (E&O) Insurance, provides coverage for financial loss for which a licensed advisor becomes legally obligated to pay as a result of any act, error or omission in the performance of professional services to a client.

Limits of Liability Available

Corporate Entity Errors and Omissions Coverage

Applicable Deductible(s)

Note: Higher aggregate applies where required by provincial regulations, i.e. Manitoba. Applicable deductible(s) 

There is a common misconception that individual advisors’ insurance provides adequate protection for the company that they own. The reality is that an advisor’s individual E&O insurance will not provide full coverage for their corporation. Financial Advisors should obtain separate E&O insurance coverage for their company in order to fully transfer its risks. In some provinces this is a regulatory requirement.

Please contact Aon at eandopro@aon.ca for further information.

(for the May 1, 2024 to May 1,2025 term)