Expansive coverage for trustees, the plan and the retirement system for claims alleging breach of Employee Benefit Law — broadly defined to include applicable statutory laws or regulations of the United States, Canada or any state or province therein
A broad definition of “insured” that includes past, present and future plan and retirement system employees, plan committee members, members of the board of plan trustees, and elected or appointed public officials
Indemnity coverage for government-defended claims<sup>1</sup>
Defense coverage that includes third-party service costs paid in both insurer or government-defended claims (i.e. expenses incurred in connection with a claim or appeal of a claim for services provided by accountants, actuaries, investigators, expert witnesses, document reproduction services, court reporters and process servers)
Investment Loss Coverage wording (an exception to the benefits exclusion to ensure coverage for monetary awards in claims arising from loss of investment value)
Built-in coverage for HIPAA penalties
Broad definition of “claim” that includes written demands for monetary, non-monetary or injunctive relief
Final adjudication wording for “conduct” exclusions
Severability of the application provision provides full severability for Natural Person Insureds — the knowledge of a Natural Person Insured shall not be imputed to any other Natural Person Insured with respect to the statements, warranties and representations contained in the Application
Severability of the exclusions — the wrongful act of any Insured shall not be imputed to any Plan or Natural Person Insured when determining the applicability of an exclusion<sup>2</sup>
<sup>1</sup> Claims where representation is provided by government body
<sup>2</sup> This severability of exclusions provision does not apply to exclusions for prior notice or for pending or prior litigation