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E&O policy exclusions that I just read on a policy disclaimer from a main stream E&O carrier most associations go through (my summary), #3 is the most disappointing in my opinion. Even if I do not misrepresent a product, but a client alleges I did, no coverage.
1. Unauthorized release of private information.
2. Based upon the collecting or failing to collect a premium payment.
3. Actual or alleged misrepresentation of an interest rate, dividends, orguaranteed columns in an insurance contract, or a dispute over premium payments.
4. Any tax or financial planning advice except as it pertains to the specific productsold.
5. Any duties as a third party administrator of a plan.
1. Unauthorized release of private information.
2. Based upon the collecting or failing to collect a premium payment.
3. Actual or alleged misrepresentation of an interest rate, dividends, orguaranteed columns in an insurance contract, or a dispute over premium payments.
4. Any tax or financial planning advice except as it pertains to the specific productsold.
5. Any duties as a third party administrator of a plan.