Welcome Funds' E&O Policy Protects Agents, Clients

Welcome Funds' referring agents and firms are now further protected in the event of an error or omission claim by a client. As of April 2008, we now carry $10 million of errors and omissions coverage per occurrence and in the aggregate with Endurance American Specialty Insurance Company.

Referring agents/firms that are contracted with Welcome Funds and properly licensed as required are eligible for coverage under the policy for any direct business closed with Welcome Funds. Error and omission insurance provides coverage in the event you face a lawsuit from a client or family member due to Welcome Funds business activity for that particular life settlement transaction.

According to Tim Fitzpatrick, vice president of Todd Associates, Inc. (Welcome Funds' insurance provider), $10 million far surpasses the coverage carried by most life-settlement firms.

"Welcome Funds knew $5 million was the average coverage and the company wanted to again set itself apart by making its clients feel that much more protected," Fitzpatrick said.

"Not only should such coverage reassure Welcome Funds' referring agents and firms, but it also indicates Welcome Funds is confident its clients are protected in the event the coverage is necessary. Welcome Funds is confident it will do a great job in representing its clients' firms."

Fitzpatrick noted that Welcome Funds was fully vetted through a thorough underwriting process with Todd Associates, ensuring that the company follows the proper protocols and procedures with all appropriate documentation.

Welcome Funds also maintains general liability insurance with Zurich of $1 million for each occurrence and a general aggregate of $2 million. Our Risk Management Committee conducts ongoing evaluations of our insurance coverages in the marketplace.

Contact your Welcome Funds representative for more information about how our trusted experts can work with you.