The following companies are NIBA Industry Partners for their high standards and business ethics combined with ultimate professionalism. They take a long term view with all their relationships and we encourage all our Members and Associate Members to contact them with any of your needs within their core competency.
American Stock Exchange
The American Stock Exchange has been a pioneer in market innovation for ore than a century and remains committed to developing successful new investment products and innovative services for companies and investors.
Business Wire
Business Wire, a wholly owned subsidiary of Berkshire Hathaway, is the global market leader in commercial news distribution. Thousands of member companies and organizations depend on Business Wire to transmit their full-text news releases, regulatory filings, photos and other multimedia content to journalists, financial professionals, investor services, regulatory authorities and the general public worldwide.
In fact, Business Wire has the most comprehensive news and disclosure network in the world. We originate hundreds of thousands of news announcements each year, with a dramatic impact on capital and commercial markets around the globe and in virtually every industry sector.
Business Wire also offers services for satisfying regulatory obligations in the US and around the globe. Our in-house EDGAR team - an industry first - makes Business Wire the largest EDGAR filer in the newswire sector. Business Wire also offers Canadian SEDAR and UK Regulatory filings, along with disclosure fulfillment in Belgium, Denmark, Finland, France, Germany, Ireland, the Netherlands, Luxembourg, Sweden and Switzerland.
Business Wire continues to be a proponent of personalized customer service. With more newsrooms than any other commercial newswire, Business Wire provides better local support with fast turnaround of your news releases and greater accuracy. That's what more than 45 years of experience and credibility can do for you.
Contact: Lee Marshall, Vice President, Industry Alliances
Telephone: 800-999-1178
Lee.Marshall@businesswire.com
http://www.businesswire.com/
Entrex
Entrex is the evolution of an entrepreneurial exchange. The source to find, resource, track, manage and trade interest in entrepreneurial companies. We provide origination, licensing, servicing, reporting, rating and trading for private company financial instruments. In essence, a capital market system for investments into private companies.
Contact: Steven Watkins
Toll Free Phone: (877) 4-ENTREX or
Toll Free Fax: (877) 408-9288
SWatkins@entrex.net
http://www.entrex.net/
Financial Advisors Assurance Select
An E&O insurance company designed specifically for Financial Professionals, BD and RIA firms nationwide. Our focus is on mitigating loss within your practice while providing you comprehensive and affordable coverage to preserve the business you have worked so diligently at building. Our attorney network is highly qualified and fights vehemently on your behalf. Learn about our proactive approach to insuring your practice and livelihood.
Contact: Robin Mills
Office - 800.261.0633
Fax - 208.730.9442
email: rmills@falegal.com
RRADA
A New Program That Protects Against A Security Broker/Dealer’s E&O Exposure
For years, Insurance Brokers have struggled with how best to insure Security Broker/Dealers (BD's) from their E&O exposures to claims brought against their Registered Representatives (RR) and the BD itself. Numerous E&O Carriers have come and gone within this product line, and the E&O products that remain today are restrictive, and contain exclusions and provisions that inhibit or eliminate the protection most Broker/Dealers need to preserve their capital base and the personal assets of their registered representatives.
To solve this long standing problem, Arthur J. Gallagher & Co.(AJG), one of the largest commercial insurance brokers in the world, and The Registered Representative Arbitration Defense Association ( RRADA), a securities industry trade organization, have combined their resources to develop a new Security Broker Dealer Professional Liability program that they call RepSYNC.
The goal of RepSYNC, is to combine RRADA's member benefits, with pure insurance and "sync" the two together to provide a more responsive and cost effective solution. RRADA provides a program that contains the following member benefits:
1. Pay for legal representation, exclusive of expenses and out-of-pocket disbursements, billed by an attorney selected by the member BD and approved by RRADA, for the defense of a securities arbitration brought against the broker/dealer and/or RR member.
2. Periodic regulatory updates, industry news updates, educational programs and information regarding current developments in the securities industry related to the defense of customer arbitration proceedings.
3. Free and unlimited telephone consultations with an attorney experienced in securities matters provided by RRADA regarding general issues related to the broker/dealer or registered representatives activities in the securities industry, exclusive of actual representation.
4. Unlimited referrals to experienced securities attorneys, who have agreed to provide legal services to RRADA broker/dealer members at a discounted rate of twenty (20%) percent less than their lowest rate for such services, for all other securities related or non-related matters.
Combined with the RRADA benefits, is an Insurance policy that will provide coverage for any covered settlements or judgments, and the excess of any attorney fees not provided by the RRADA member defense cost benefit. This portion of the RepSYNC program, functions very similarly to a standard E&O policy, but the limits are preserved and not eroded by the defense costs. A few of the combined benefits of the RepSync program are listed below:
Unlimited attorney fees for arbitrations without impacting the limit of liability remaining to pay a settlement or judgment
Coverage for customer cases brought in court as well as arbitration forums
Eliminate the Deductible or dramatically reduce the per-claim Deductible, since attorney fees paid by RRADA are applied to reducing the E&O insurance element’s deductible
There are no product exclusions that apply to the defense of arbitrations
Unlimited Defense cost coverage for Investment Banking activities and options to insure the settlements and judgments
Options for B/D Choice of Counsel or selection of counsel from over 50 pre-approved panel counsel firms
Coverage for settlements and judgments from an A+ rated Insurance company
In addition to the RepSYNC E&O Program, Arthur J. Gallagher & Co., has developed a specialized Fidelity Bond program, Privacy & Security (Cyber Liability) program and a D&O program to meet the unique needs of today’s Broker Dealers. AJG has been taking submissions and providing quotations since July to RRADA members and firms considering RRADA membership. Please contact them as listed below for further information.
Calvin C. Reno
Managing Director, Professional Liability Division
Arthur J. Gallagher Risk Management Services
Arthur J. Gallagher & Co. Insurance Brokers of California, Inc.
505 N. Brand Blvd., Suite 600
Glendale, California 91203-3944
818-539-1500 Direct Dial
818-539-1800 Direct Fax
calvin_reno@ajg.com
License # 0726293
Chuck Bennett
RRADA
Vice President - Memberships
585 Stewart Avenue
Suite 740
Garden City, NY 11530
O (516) 222-2285
F (501) 621-6006
Standard & Poors
Standard & Poors is the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research and data. We supply investors with the independent benchmarks they need to feel more confident about their investment and financial decisions.
Contact: Dan Killian
Telephone: 212-438-3682
dan_killian@sandp.com
http://www.sandp.com/