Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Life Insurance

Life Settlement Firm Gets Broker E&O Coverage

Your article was successfully shared with the contacts you provided.

NU Online News Service, April 4, 1:35 p.m. – Living Benefits Financial Services L.L.C., Minnetonka, Minn., says it has obtained error and omission insurance coverage for the brokers in its distribution network.

Living Benefits helps consumers convert life insurance policies into cash. It has tried to set itself apart from other companies in the life settlement and viatical markets by using institutional financing and promising to adhere to a strict code of conduct.

The professional liability coverage comes from an A+ rated carrier, and it will cover all contracted, independent brokers for transactions completed through Living Benefits, Living Benefits says.

The limits are $5 million per claim and $10 million aggregate, Living Benefits says.

Living Benefits says it will pay the premiums for its brokers.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.