Fiduciary Liability Insurance (Pension Trust Liability Insurance)
In today's uncertain economy, companies must be proactive in securing protection against the increasing risk of fiduciary liability claims. ERISA imposes personal liability on plan fiduciaries - even when a breach of duty is inadvertent or result of a mistake. Severe losses in pension and 401(k) plan portfolios, coupled with actions companies typically take to weather turbulent times - job elimination and reductions in benefits - can easily trigger ERISA-related litigation.
Employee Benefit Plan Fiduciary Liability Insurance (Pension Trust Liability) from Executive Liability provides market-leading, expansive coverage to protect not only a company's employee benefit plans and the company itself, but also the personal assets of the company's directors, officers and employees alleged to have fiduciary responsibility.
- Broadly defines "plan" to encompass everything from pension plans, to welfare plans, to VEBA's (Voluntary Employee Benefit Associations)
- Extends to various individuals and entities that could be named in a fiduciary liability lawsuit including directors, officers, plans, plan sponsors, and employees
- Encompasses most newly created plans and plans of newly acquired subsidiaries
- Addresses myriad ERISA-related claims including those alleging lack of plan oversight, imprudent investments, failure to monitor plan investments and more
- Covers certain fees and penalties imposed by the IRS or Department of Labor under voluntary compliance programs
- Additional coverages available by endorsement
- Gives insured right to assume the Duty to Defend
- Safeguards assets, plans and plan sponsors
- Provides coverage for explicit defense costs for bodily injury claims by welfare plan participants
- Accessibility to some of the nation’s top legal defense firms that specialize in ERISA-related lawsuits
We have assembled a seasoned team of claims professionals who are experienced in managing some of the highest-profile D&O, E&O, employment practices, fiduciary, crime and technology cases in the industry, for entities of all sizes and across most industries-from Fortune 500® companies to not-for-profit organizations; multinational corporations to privately-held enterprises.
Our centralized in-house operation, positioned adjacent to our underwriting colleagues, allows us to facilitate prompt case resolution and the best possible claim outcomes. We offer access to some of the nation's leading law firms specializing in the defense of securities, employment practices, fiduciary and technology claims. And in the toughest environment, policyholders can count on our aggressive litigation strategies to defeat even the most formidable plaintiff's attorneys.
To report a claim please contact us:
Tel: 888-602-5246
Fax: 866-227-1750
Mail:
c-Claim for Financial Lines
175 Water Street, 9 Fl.
New York, NY 10038
To follow up on an existing claim:
Tel: 888-602-5246
Download a claim form for submission.
To request loss runs, contact Broker Services at 877-867-3783
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Employment Practices Liability Loss Prevention Pack (EPL Pak Premier)
Fidelity and Crime Insurance (CrimeGuard)
Public Company Directors and Officers Insurance (D&O 2/2000)
Fiduciary Liability Insurance New Business Application Form
Application form for Fiduciary Liability insurance for new business.
Fiduciary Liability Insurance Renewal Application Form (.doc)
Renewal application form for Fiduciary Liability insurance.
Fiduciary Liability Insurance Specimen Declarations Page (.doc)
A specimen of the Fiduciary Liability insurance policy
Fiduciary Liability Insurance Specimen Policy (.doc)
A sample declaration page of the Fiduciary Liability insurance product.