SPECIAL ANNOUNCEMENT
NEB Members Welcome High-Quality E&O Insurance for Less
NEB-sponsored Preferred Risk E&O, launched in early October 2008, has received a tremendous welcome from NEB members. The coverage, underwritten by CNA and administered by Marsh Consumer, gives qualified financial professionals the ability to save up to 50% on their E&O coverage.1
“The response has truly been off the charts,” says Steven R. McCarty, NEB Chairman. “Now that high-risk agents are purged from the pool, low-risk agents can get a much better deal. In fact, most are telling us they’re saving hundreds of dollars.”
“NEB standards created a unique low-risk category of agents for Errors and Omission insurance that has never existed before,” adds Jeffrey S. Kopitz, NEB President. “Finally, agents with clean records no longer have to pay for other agents’ claims.” Currently, coverage is available to qualified advisors only. These include:
- Current NEB members.
- Non-members who become members by applying for membership and passing our background checks.
- Non-members who successfully answer NEB’s E&O screening questions and pay an additional $100 regardless of package chosen.
For more information about Preferred Risk E&O, please visit www.eoforless.com or call Marsh Consumer at (866) 795-2041.
Disclaimer
One or more of the CNA companies provide the products and/or services described. The information is intended to present a general overview for illustrative purposes only. It is not intended to constitute a binding contract. Please remember that only the relevant insurance policy can provide the actual terms, coverages, amounts, conditions and exclusions for an insured. All products and services may not be available in all states and may be subject to change without notice. CNA is a service mark registered with the United States Patent and Trademark Office. Copyright © 2008 CNA. All rights reserved.
1 According to a 2008 NEB marketing analysis, most advisors pay from $800 to $1,200 annually for Life, Accident, Health, and Fixed Annuity E&O coverage. Therefore, the NEB equivalent total annual cost of $495 (member) and $595 (non-member) represents a potential annual savings of 20% to 50%.
Now accepting applications for Errors & Ommisions Insurance!
E&O Application for NEB Members 
E&O Application for Non-members
More Information: www.ethicscheck.com/eo
Frequently Asked Questions Revisited
Have you ever received questions about NEB that you weren’t sure how to answer? Would you like to learn more about our admission guidelines and other procedural matters? If so, then help is at hand. Starting this month, we will periodically publish frequently asked questions and answers about NEB. Our first three questions deal with the basic mission and structure of our organization.
1. What is the National Ethics Bureau?
The National Ethics Bureau™ (NEB) is a leading advocate for business ethics in the financial services industry. NEB promotes ethical business practices through its trade-magazine columns, conference presentations, monthly newsletter, and website content. It also maintains a membership community of background-checked advisors who have agreed to uphold its principles and membership standards.
NEB also sponsors related services such as Preferred Risk E&O insurance and state-approved ethics and compliance continuing education courses for licensed insurance agents and securities brokers.
For the general public, NEB provides the ability to purchase a background check on any financial professional prior to doing business.
NEB is not a financial designation, nor does it endorse any products or services offered by its members or sponsors.
2. Is the National Ethics Bureau a commercial business, non-profit organization, or trade association?
NEB is a California-based commercial business that, like a trade association, has a community of members. NEB also provides non-members such as employers, consumers, and financial services companies the ability to purchase background checks, acquire identity theft prevention services, access compliance guidance, subscribe to ethics motivational content, as well as purchase other related products and services. In addition, NEB offers state-approved ethics and compliance continuing education courses for all licensed insurance agents and securities brokers, as well as for those holding accredited designation such as: the Certified Financial Planner (CFP), Chartered Life Underwriter (CLU), and Chartered Financial Consultant (ChFC).
3. What is the main difference between the National Ethics Bureau (NEB) and the Better Business Bureau (BBB)?
Both are membership organizations designed to enhance consumer confidence. However, unlike BBB, which has served consumers and businesses successfully for decades, NEB has an extensive background check process designed specifically for financial professionals.
Become NEB’s Next Member of the Month!
- Have you been an NEB member in good standing for at least a year?
- Do you stand for ethics and integrity in every aspect of your business?
- Has NEB membership helped you build stronger client relationships?
- Are you interested in achieving industry recognition for being named NEB’s Member of the Month?
If you answered “yes,” to all of these questions, then we encourage you to apply for NEB’s member-of-the-month program. If selected, you will be profiled in a future issue of Ethics Edge. You will also receive a free PDF reprint of your interview to share with prospects and clients. (see sample)
Interested?
Go here to submit an application.
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