The role of a pension trustee is extremely onerous, and the ever increasing duties placed upon them by legislation can leave trustees personally exposed to substantial civil and criminal penalties if a breach of trust or maladministration occurs.
The Insurance Policies that AXIS E&O Professionals offer provide real protection to pension trustees in defending themselves against potential claims which can arise.
We offer three policies which are aimed at protecting trustees against the vast majority of the liabilities that threaten them. There are distinct areas of exposure, and the three policies provided are as follows:
AXIS Crusade - annual Pension Trustee Liability policy for ongoing pension schemes.
AXIS Pension Fund Run-Off - for schemes that have wound-up.
AXIS Overlooked Beneficiary - for schemes that have wound-up.