There are good reasons to consider Pension Trustee Liability insurance from AIG

The employer who wishes to set up a pension plan for his employees now bears more responsibilities than ever before. Chartis offers a first-to-market, newly compliant Pension Trust Liability program, the only plan designed specifically to protect against the new exposures created by the Belgian law of 27 October 2006. Those who administer pension funds are now protected against loss for errors and omissions in the managing of funds that the company holds on behalf of others.

Trustee responsibilities

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.

Company protection

Pension trustee liability insurance also provides cover for the company and its pension plan. That’s because while in theory the trustee may be personally liable, in practice the risk is often carried by the employer or the pension plan by indemnities and exoneration clauses.

Trustee protection

Pension trustee liability insurance is designed to meet defence costs, awards, damages, and investigation costs of anyone like trustees, secretaries or administrators involved in running the pension scheme who are accused of mistakes or oversights in their duties.

The OFP, its members of the board of directors, its members of the general meeting, its members of the operational bodies, its members of the social committees, its employees. The sponsoring undertakings, their directors and officers, their employees. The special commissioner appointed by the CBFA.

Virginie Kallen (Claims Handler)
Tel: +352 44 30 32 20
Fax: +352 44 31 07

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Customer Service

AIG Europe Limited

10B rue des Mérovingiens
L-8070 Bertrange
Tel No: +352 44 30 32-1
Fax No: +352 44 31 07