Although often unpaid, trustees are expected to understand and keep up to date with the laws and investment principles of their schemes. They must challenge their advisors and employers when they need to. Failure can result in fines or other penalties against them and the company.
Pension Trustee Liability covers defence costs, awards and damages of trustees and individuals administering a pension scheme or any employee benefit or welfare plan. It also covers the Company for risks assumed via indemnities and exoneration clauses.
Pension Trustee Liability is suitable for any company operating an occupational pension plan as well as company or employee benefit plans.
See our Risk Appetite