FIDUCIARY LIABILITY INSURANCE
The Euclid Vanguard policy is a market leading fiduciary program for Non-Profit Employee Benefit Plans, including multiemployer plans subject to ERISA and governmental plans. We are known for our expertise and thought leadership in protecting benefit plans trustees from complex liability by providing timely, proactive market solutions to changing regulatory and market risk. Our team of experts has over 85 years of experience underwriting these complex risks. Put our team and program to work for your plan.
Product & Program Highlights
- Commitment to Employee Benefit Plan Market – Carrier history of paying claims fairly and responsively
- Limits capacity – $25 million on a primary or excess basis
- Rare feature of Duty to Defend and Choice of Counsel
- Full settlor coverage, coverage for pre-claim investigation costs for DOL investigations, and interview coverage for other regulatory investigations (available for qualified plans)
- Penalty Coverages: includes EPCRS; IRS CAP; VCRS; PPACA; IRS section 4975 – all in base form - full statutory limits for HIPAA/HITECH violations (for qualified plans)
- The Euclid Penalty Box – Umbrella of penalty coverages expands protection when underlying sub-limits for penalty coverages are exhausted
- No Hammer Clause
- CyberEssentials – unique offering of first party cyber coverage includes content restoration and crisis notification expenditures for information breaches
- Broad definition of key coverage terms: who is an insured; what is a claim; and what is a wrongful act
- Independent Fiduciary Expense – covers retainer fees and expenses
- Benefit Coverage – coverage for benefit miscalculations by the Plan that result in overpayments
- Claims Expertise – Euclid Specialty staff has claims authority from our carrier. Our staff of lawyer experts has unparalleled legal and claims experience within our defined niche
- Our Carrier: Policy offered on admitted basis, 50 state availability, through Hudson Insurance Company, one of the most dedicated carriers for employee benefit plans. Hudson has an A.M. Best rating of “A” (Excellent), financial size category XV ($2.0 billion or greater)
- Qualified accounts include multi-employer, governmental, non-profit benefit plans, VEBA’s, endowments, church plans and others. Contact us to discuss client eligibility.