1 / 14

AMNT Members Seminar 20 June 2012 Trustee Insurance Jonathan Bull Executive Director opdu

OPDU Protecting Pension Funds. AMNT Members Seminar 20 June 2012 Trustee Insurance Jonathan Bull Executive Director www.opdu.com. OPDU Protecting Pension Funds. Protections & Insurance Claims. OPDU Protecting Pension Funds. Trustee Liabilities

kolton
Download Presentation

AMNT Members Seminar 20 June 2012 Trustee Insurance Jonathan Bull Executive Director opdu

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. OPDUProtecting Pension Funds AMNT Members Seminar 20 June 2012 Trustee Insurance Jonathan Bull Executive Director www.opdu.com

  2. OPDUProtecting Pension Funds • Protections & Insurance • Claims

  3. OPDUProtecting Pension Funds Trustee Liabilities • Each trustee is legally responsible to and for the scheme (even after they have retired or changed job) • Trustees cannot absolve themselves of responsibility (i.e by delegating their duties to make decisions to professional advisers)

  4. OPDUProtecting Pension Funds Protections • Indemnity (limitations) • Exoneration (limitations) • Statutory (limitations) • Insurance • Court Applications

  5. OPDUProtecting pension funds Insurance • Directors & Officers (D&O) Policies • Global Company Policies • Pension Trustee Liability (PTL) Policies

  6. OPDUProtecting pension funds Who should Insurance cover?

  7. OPDUProtecting pension funds Protection for All • Trustees • Internal Advisers • Administrators, Managers & Employees • Directors & Officers of Trustee Companies • Internal Disputes Managers • Sponsoring Employer / Pension Scheme

  8. OPDUProtecting pension funds What should Insurance cover?

  9. OPDUProtecting pension funds OPDU Elite Cover Features 1 • Cover for court proceedings • Cover for mediation and arbitration • Compensation or awards by Ombudsman or other official Regulatory Authority • Maladministration • Civil Fines & Penalties cover where lawful • Loss Policy • Indemnity • Exoneration

  10. OPDUProtecting pension funds OPDU Elite Cover Features 2 • Full severability of cover • Individual representation • Defence costs • Third party costs • Retirement cover - lifetime

  11. OPDUProtecting pension funds OPDU Elite Cover Features 3 • Court Application Costs • Costs of investigations • PR expenses • Extradition proceedings • Third Party Service Provider Pursuit

  12. OPDUProtecting pension funds • OPDU Elite Cover Features 4 • Claims made policy • Limit of insurance: one limit or separate limits? • Deductibles/Excesses • Payment of premium • Cost – important factors in assessment • Discontinuance Insurance – separate policy

  13. OPDUProtecting pension funds Claims Recent Claims Experience

  14. OPDUProtecting pension funds Questions? Jonathan Bull Executive Director, OPDU Ltd Dir line: 020 7204 2432 jonathan.bull@opdu.com

More Related