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Pension & Welfare Benefit Plan Fiduciary Liability Insurance

Professional
AXA XL Insurance offers fiduciaries personal asset protection for damages they are legally obligated to pay as a result of deliberate or unwitting wrongful acts and for the costs associated with defending allegations of wrongful acts.

Coverage

Protects pension scheme and benefit plan trustees and administrators, sponsoring employers, corporate trustees and the scheme itself against claims arising from breach of fiduciary obligations in connection with company plans and schemes

  • Insured person cover
  • Company, plan and corporate trustee company liability and reimbursement cover
  • Exonerated loss cover

Coverage includes:

  • Broad definition of insured including the company, corpo¬rate trustees, constructive trustees, directors and officers, and administrators, managers, trustees, employees and internal dispute managers of the company, the pension scheme or plan.
  • Loss of documents cover which the insured is legally responsible
  • Investigation Cover
  • Crisis containment expenses – to prevent or limit the adverse effects or negative publicity which may arise from a claim or investigation.
  • Extradition Proceedings
  • Prosecution costs
  • Third Party Pursuit costs
  • Emergency defence costs
  • Indemnity for Beneficiaries
  • Contribution notice costs for insured persons
  • Cover for civil fines and penalties imposed by the Pensions Regulator, the Pensions Ombudsman or other regulatory authority - which are insurable

Client Profiles

  • Privately held and publicly traded companies
  • From SME enterprises to multi-national corporations
  • Cover for plans and schemes located anywhere in the world
  • Not available for US domiciled policyholders

Typical Information Required

  • Type of plan (defined benefit or defined contribution) and funding status
  • Latest plan financials and actuarial valuations
  • Claims history

Benefits & Services

  • Dedicated and experiences financial lines underwriters in all territories in which we operate.
  • Our market-leading claims management team has unrivalled expertise and knowledge. Our award winning claim system, ‘AXA XL GlobalClaim’, enables us to manage claims efficiently and accurately, no matter where they occur in the world.

Attachment Point

Primary and excess

Capacity

Typically up to USD/EUR 25m

Coverage

Protects pension scheme and benefit plan trustees and administrators, sponsoring employers, corporate trustees and the scheme itself against claims arising from breach of fiduciary obligations in connection with company plans and schemes

  • Insured person cover
  • Company, plan and corporate trustee company liability and reimbursement cover
  • Exonerated loss cover

Coverage includes:

  • Broad definition of insured including the company, corpo¬rate trustees, constructive trustees, directors and officers, and administrators, managers, trustees, employees and internal dispute managers of the company, the pension scheme or plan.
  • Loss of documents cover which the insured is legally responsible
  • Investigation Cover
  • Crisis containment expenses – to prevent or limit the adverse effects or negative publicity which may arise from a claim or investigation.
  • Extradition Proceedings
  • Prosecution costs
  • Third Party Pursuit costs
  • Emergency defence costs
  • Indemnity for Beneficiaries
  • Contribution notice costs for insured persons
  • Cover for civil fines and penalties imposed by the Pensions Regulator, the Pensions Ombudsman or other regulatory authority - which are insurable

Client Profiles

  • Privately held and publicly traded companies
  • From SME enterprises to multi-national corporations
  • Cover for plans and schemes located anywhere in the world
  • Not available for US domiciled policyholders

Typical Information Required

  • Type of plan (defined benefit or defined contribution) and funding status
  • Latest plan financials and actuarial valuations
  • Claims history

Benefits & Services

  • Dedicated and experiences financial lines underwriters in all territories in which we operate.
  • Our market-leading claims management team has unrivalled expertise and knowledge. Our award winning claim system, ‘AXA XL GlobalClaim’, enables us to manage claims efficiently and accurately, no matter where they occur in the world.

Attachment Point

Primary and excess

Information & Research

Claims Management – North America Professional Products


Contacts


Pension Welfare Benefit Plan NA


Email submissions to: Submissions@axaxl.com

Attachment Point

Primary and excess

Capacity

Typically up to USD/EUR 25m

Coverage

Protects pension scheme and benefit plan trustees and administrators, sponsoring employers, corporate trustees and the scheme itself against claims arising from breach of fiduciary obligations in connection with company plans and schemes

  • Insured person cover
  • Company, plan and corporate trustee company liability and reimbursement cover
  • Exonerated loss cover

Coverage includes:

  • Broad definition of insured including the company, corpo¬rate trustees, constructive trustees, directors and officers, and administrators, managers, trustees, employees and internal dispute managers of the company, the pension scheme or plan.
  • Loss of documents cover which the insured is legally responsible
  • Investigation Cover
  • Crisis containment expenses – to prevent or limit the adverse effects or negative publicity which may arise from a claim or investigation.
  • Extradition Proceedings
  • Prosecution costs
  • Third Party Pursuit costs
  • Emergency defence costs
  • Indemnity for Beneficiaries
  • Contribution notice costs for insured persons
  • Cover for civil fines and penalties imposed by the Pensions Regulator, the Pensions Ombudsman or other regulatory authority - which are insurable

Client Profiles

  • Privately held and publicly traded companies
  • From SME enterprises to multi-national corporations
  • Cover for plans and schemes located anywhere in the world
  • Not available for US domiciled policyholders

Typical Information Required

  • Type of plan (defined benefit or defined contribution) and funding status
  • Latest plan financials and actuarial valuations
  • Claims history

Benefits & Services

  • Dedicated and experiences financial lines underwriters in all territories in which we operate.
  • Our market-leading claims management team has unrivalled expertise and knowledge. Our award winning claim system, ‘AXA XL GlobalClaim’, enables us to manage claims efficiently and accurately, no matter where they occur in the world.

Attachment Point

Primary and excess

The information contained herein is intended for informational purposes only. It’s is neither an offer to sell nor a solicitation to purchase any particular insurance product. Insurance coverage in any particular case will depend upon the type of policy in effect, the terms, conditions and exclusions in any such policy, and the facts of each unique situation. No representation is made that any specific insurance coverage would apply in the circumstances outlined herein. Please refer to the individual policy forms for specific coverage details. AXA XL is a division of AXA Group providing products and services through four business groups: AXA XL Insurance, AXA XL Reinsurance, AXA XL Art & Lifestyle and AXA XL Risk Consulting. In the US, the AXA XL insurance companies are: AXA Insurance Company, Catlin Insurance Company, Inc., Greenwich Insurance Company, Indian Harbor Insurance Company, XL Insurance America, Inc., XL Specialty Insurance Company and T.H.E. Insurance Company. In Canada, coverages are underwritten by XL Specialty Insurance Company - Canadian Branch and AXA Insurance Company - Canadian branch. Coverages may also be underwritten by Lloyd’s Syndicate #2003. Coverages underwritten by Lloyd’s Syndicate #2003 are placed on behalf of the member of Syndicate #2003 by Catlin Canada Inc. Lloyd’s ratings are independent of AXA Group. Not all of the insurers do business in all jurisdictions nor is coverage available in all jurisdictions.