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05. Error & omission insurance

Preparation: 

Careful preparation of documents is essential to avoid frequent administrative rejections on Apexa.

  • Access required:
    • Apexa login credentials (advisor profile and entity administrator profile).
  • Documents to be collected (PDF format):
    • Individual (personal) certificate of insurance.
    • Certificate of insurance for the corporate entity.
    • Certificate letter (confirmation of coverage).
    • Full font wording (wording).
    • Proof of cyber and legal protections (if applicable).
    • Note: Do not submit the invoice as it is not accepted as proof of coverage.
  • Key information:
    • Validity dates (start and end).
    • Individual certificate number.
    • Master contract number (group policy).
    • Exact amounts of coverage limits.

“So What?” analysis: The root cause of rejection on Apexa is nominal mismatch. The name on the certificate should be an exact mirror of the name on file. Pre-validation avoids a rejection/submission cycle that could paralyze your activities for several days.

Detailed procedure

  1. Identification phase: Look for orange alerts or exclamation mark icons on the Apexa dashboard indicating insurance non-compliance.
  2. Access and History: Access the “Insurance” module. While it is possible to edit the existing entry, use the “Add” button  to maintain a clean compliance history.
  3. Data entry (personnel pane): Enter the certificate number, framework agreement number and validity dates.
  4. Entering amounts: Manually enter limits (e.g., $1,000,000 / $2,000,000). This is the most sensitive step to typing errors (omitting zeros).
  5. Download: Attach each PDF file to the corresponding field. Check that no documents are uploaded twice by mistake.
  6. Data entry (corporate component): Change the profile for the corporate entity. Tip: Paste the company name into the search field to find the company faster.
  7. Finalization: Save the changes. The entries will be displayed with a status of “Pending”.

Note on dependencies: Final approval is dependent on a double check (Apexa and GFS Administration). The usual time frame is 24-48 business hours.