Annual Policy: AXIS Crusade
This annual claims-made policy provides extremely wide protection for ongoing pension schemes. The AXIS Crusade policy covers the liability of the trustees, the sponsoring employer's indemnity obligations under the trust deed, and also the employer's general liability arising from the administration of the pension scheme. In addition, both parties are protected in respect of direct and vicarious liability for any dishonest or fraudulent act or omission within policy terms on the part of an employee, director or fellow trustee as appropriate.
Policy Features: Cover includes legal liability of innocent trustees in the event of claims made against them arising from the dishonest acts of fellow trustees. Immediate indemnity available of up to £10,000,000 with additional limits negotiable. An optional extension is available to cover monetary awards made by the Pensions Ombudsman or by the Pensions Regulator. Optional cover is available for direct financial loss sustained by the scheme due to theft, fraud, computer fraud or mysterious disappearance of pension funds.