Labor Management Trust
RLI’s new Labor Management Trust policy covers your clients’ unique fiduciary liability needs.
Some of your labor management trust clients are trustees for various
employee benefit plans. You’ve made sure they have fiduciary liability
coverage to protect their personal assets.
Now ask yourself if their current fiduciary liability policy has the
following features:
- Full severability
- Coverage for compliance fees - including VCR compliance fees, IRS
audit CAP, walk-in closing agreement program, administrative policy
regarding self-correction, and tax sheltered annuity voluntary
correction program fees
- No prior acts exclusion
- Coverage for 502 (i), (l), and (c) fines
- Coverage for COBRA and HIPAA violations
- Marital estate coverage
- Elimination of recourse
- Bi-lateral discovery, including 30 days after policy termination in
which to elect the discovery period
RLI EPG products feature such advantages as automatic merger and acquisition and automatic run-off coverages; broad punitive damage and spousal liability coverages;
zero retention for investigative costs coverage for favorably resolved claims; bilateral discovery; and a three-year discovery quote guaranteed. Investigations are included in
the definition of claim, and all our coverages feature "Pay on behalf of" language, claim notice "as soon as practicable," full severability, are non-cancelable
(except for non-payment of premium) and insure your clients worldwide.
If your current fiduciary liability policy doesn’t stack up, it may be time
to consider our Labor Management Trust (LMT) Fiduciary Liability policy. This
state-of-the-art fiduciary liability policy is designed specifically for your
labor and union trustee clients. It’s not a watered down standard fiduciary
policy, modified through endorsements - it’s uniquely LMT. Even the application
is designed with your union trustee clients in mind.
RLI underwriters are experts when it comes to LMT accounts. Our field
staff has been underwriting LMT business for over 20 years.
Visit the EPG website for downloadable policy forms and applications
Find an RLI underwriter
Request more info
Learn more about RLI’s Executive Products Group
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