Labor Management Trust Fiduciary Liability Insurance

RLI’s 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:

• Available in excess coverage (Pure follow-form coverage sits over all coverages.)
• 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
• A three-year discovery quote guaranteed
• Investigations are included in the definition of claim
• “Pay on behalf of” language
• Claim notice “as soon as practicable”
• Non-cancellability (except for non-payment of premium)
• Worldwide coverage
• Crime/KRE: Only to insureds who also purchase other EPG coverages — one or a combination of D&O, fiduciary and EPL