Private/Not-For-Profit: ACE Express Fiduciary Liability Policy

ACE’s Fiduciary Liability Policy provides broad insurance coverage for risks facing fiduciaries of pension and welfare plans under employee benefit law.

Benefits:

• Broad definition of plan including any pension or welfare plan established anywhere in the world
• Broad definition of fiduciary including any person or entity who exercises discretionary control over plan assets
• Insured has the right to assume the duty to defend
• No imputation of knowledge from one insured person to another insured person

Coverage:

• Automatic coverage for most newly created or acquired plans
• Coverage for certain penalties or fees levied by the IRS or DOL under a voluntary compliance resolution program or a delinquent flier

Limits:

• Up to $25 million

Typical Client Profile:

• Our typical clients private and not-for-profit institutions with employee benefit plans.