When you open a customer account at a CIPF Member, you may be eligible for up to $1 million of coverage if you suffer a financial loss because the Member cannot return the property in your account to you. Such financial loss must be caused by the insolvency of the Member.
To have a financial loss eligible for CIPF coverage, all of the following must be true:
- You are a customer of a CIPF Member
- You have an account with a CIPF Member
- The CIPF Member is insolvent
- There are assets in your customer account that have not been returned to you or accounted for by the insolvent CIPF Member
For more information, please refer to the CIPF Coverage Policy.