We would be pleased to advise you on the many risk-coverage options offered by PTL insurance. Search for:. Read The One Brief. PTL Pension Trustee Liability Insurance Liability insurance for board members and fund managers of occupational benefits institutions Employee representatives of occupational benefit institutions are liable towards recipients with their private assets for any breaches of duty.
Individual insurance cover for persons responsible for your occupational benefits institution The recommended PTL concept offers the persons in charge of your occupational benefits institution the necessary protection against financial losses arising from liability claims for breach of duty in the scope of their activities as board members or fund managers. Environmental, Social and Governance. Inclusion and Diversity. Awards and Recognition. Office Locations. News Events Investor Relations Careers.
United States. Simplified Chinese. Reporting damage We will be glad to help you. Find an agency We're never far away. Insurance for Pension Funds Insurance for pension plan decision-makers Zurich knows the pension business thanks to far-reaching experience and is aware of the risks against which pension funds and their decision-makers should be insured.
Request advice now. Trustees may have clauses within the trust deed exonerating them from liability. However, there are a number of limiting factors:. Pension trustee liability insurance is designed so cover can reimburse the sponsoring employer, in the event the individuals are indemnified. The cover is designed to be broad and will typically include, all trustees, employees, directors and officers of the pension scheme or sponsoring employer, whether current, future and past.
Including their respective lawful spouse, estate, heirs, if named as co-defendant, in circumstances allegations are made against a person who is deceased, insolvent, or bankrupt. Pension trustee liability insurance will also extend to:. The size, type and funding levels of your pension schemes will have a direct impact on how your pension trustee liability insurance premium is calculated.
Smaller schemes that are fully funded will be viewed more favourably, compared with large schemes with significant deficits. Defined contribution schemes will be viewed more favourably, compared with defined benefit schemes.
Consideration is also made to the sponsoring employer's financial standing , if you maintain a strong balance sheet with manageable debt, insurers will take a more favourable view. Underwriters will typically review your latest reported financial statements from Companies House to consider any negative trends and likelihood of failure. In recent years, there has been significant premium reductions available as a result of a stable claims environment and increasing competition between insurers.
To obtain the most competitive quotes we recommend you submit copies of the following with your application:. Please send all supplements to contact us once you have completed our online application. In response to guidance offered by the Pensions Regulator : Cyber security principles for pension schemes. We can provide tailored covers offering improved cyber resilience in the form of cyber cover and crime cover. The consequences of a cyber security breach for a pension scheme and its members could be significant.
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