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Frequently Asked Questions

Is EZ Insurance Solutions® new?

A. No. EZ Insurance Solutions is available through two of the industry leaders in professional liability insurance. The program is administered by Affinity Insurance Services, one of the nation's leading group insurance administrators, and a subsidiary of Aon.
 
Affinity's programs provide insurance products and solutions to a wide range of professionals and affinity groups and have earned the endorsement of more than 200 professional associations, including the American Institute of Certified Public Accountants (AICPA).
 
The professional liability insurance underwriter is CNA, a pioneer in the development of professional liability insurance. CNA is rated ‘A’ (Excellent) by A.M. Best Co., and brings more than 50 years of experience serving CPAs, public accountants and financial services providers to the program.

Is premium financing available?

A.  Yes, premium financing is available to help make premium payments fit your budget. Many find this option ideally fits the cash flow of a small practice. Call 1-866-225-8464 to learn more.

As a small business my budget is tight. How can I afford this insurance?

A.  Coverage through the EZ Professional Liability Insurance Plan starts with competitive rates, based specifically on the services you provide. A choice of deductibles is available to help you further control costs. The program also offers a longevity discount.  Each year the discount increases as a reward for maintaining your coverage with EZ.

If my business grows or I add new services, will I have to find a new insurance plan?

A. The EZ Professional Liability Insurance Plan is designed for flexibility. If your business is small, with minimal risk, you may start out with a lower liability limit. As your business grows and services change, you have the flexibility of increasing your coverage to better match your needs.

If your services include tax, accounting or bookkeeping services, the Standard Coverage program will probably be sufficient . If you provide financial planning and investment services, now or in the future, Enhanced Coverage is available as an endorsement to help provide insurance coverage you for these services. You do not need to change insurance plans; simply adjust your coverage as your business changes.

How do I get a quotation?

A. It's easy. Simply complete and return our application (PDF). Based upon your application, a quotation of coverage and rates will be prepared for you. You are under no obligation by requesting this information. Request a quote and then decide if the program meets your needs.

What is ransomware and how do I defend against it?

A. Ransomware is a type of malware used by criminals to encrypt your data rendering it unusable. Since you need your data and software to run your business, you'll likely be willing to pay a ransom to the criminals to get your data back, that is, if you have no other choice. 

To guard against ransomware attacks, implement these simple steps:
  • Backup your data, ideally into the cloud in real time. This can be supported by having a simple secured backup drive in the office - not connected to the network and therefore exposed to malware;
  • Add anti-malware, firewall and anti-adware software to better prevent phishing and trojan type attacks from reaching you and your employees;
  • Education, no one in your office should click on ANY email links that are from unsolicited/unknown sources;
  • Keep your computers updated with the latest patches. 98% of all successful attacks occur from vulnerabilities that are more than six months old; 
  • Test your ability to restore from your backup. Unless you test the process, you are not ready to address the ransomware threat. 

When does the insurance take effect?

A.  Our programs provide specialized types of insurance that become effective following your successful application and transaction online. While the coverages may be immediate, they do not cover claims or incidents that occurred prior to activation. 

When I make my purchase, will I be compliant with my state privacy laws?

A. Not necessarily. There are many aspects to compliance and different state, federal and industry specific compliance obligations.

The tools we provide will help lead you to becoming compliant. For example, assessments, written policies, online education, incident response/consumer notification, victim assistance and access to technology like our PCI DSS mandated Internal Vulnerability Scans, can each play an important role.

Is EZ Insurance Solutions® new?

What is a Business Owner’s Policy (BOP)?

A.  A ‘BOP’ provides property and general liability insurance to small businesses. You may want to think of it as similar to a homeowner’s policy, but with specific coverages tailored to your business exposures.  By packaging its coverages together (as opposed to buying them separately) you receive a reduced rate.

Coverage is typically provided for:
  • Buildings and Business Personal Property
  • Business Interruption; including Lost Business Income and Extra Expenses
  • General Liability 
  • Crime 
  • Accounts Receivable
  • Equipment Breakdown
  • Advertising Injury
  • Glass Breakage
  • Signs

What is Workers' Compensation insurance?

A. Workers’ Compensation pays for medical bills and lost wages incurred from injuries or illness that arise out of and in the course of your employees' employment.  Workers’ Compensation coverage and rates are generally set by your state’s Workers’ Compensation Bureau.  

Rates and coverage vary by state.  For example, some states may require you to cover volunteers, while others may not.  Speak to a licensed insurance broker at 1-866-854-1782 to learn about the Workers’ Compensation rules in your state.

Who needs a BOP and/or Workers’ Compensation?

A. Any financial services professional that:
  • Owns or leases an office
  • Owns or leases business personal property such as office equipment
  • Has employees
  • Has a substantial amount of revenue in accounts receivable
  • Has employees who handle firm or client funds
  • Has clients who visit their business premises
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Contact Information

Phone: 1-866-225-8464

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8 a.m. to 6 p.m. ET 

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