Independent Financial Brokers of Canada on Wednesday announced the launch of its new Errors and Omissions group plan for IFB members.

The plan features coverage for $1 million with rates starting at $789. The plan is the only sponsored E&O program for IFB members. It is offered through IFB’s newly appointed broker, Willis Canada.

Coverage for limits above $1 million are currently being negotiated, and rates will be announced as soon as they are available.

“This association has made E&O our top priority for the past year. As the market for professional liability insurance became increasingly challenging, we were even more committed in our resolve to find a solution that would give our members the best coverage available at an affordable price,” said John Whaley, executive director of IFB.