Protecting Trustees and Pension Schemes
Insured members can readily purchase limits of cover between £1million and £50million or higher if required. The OPDU Elite policy has been developed for the special insurance needs of pension schemes but can be varied to meet the specific requirements of individual schemes.
The cover affords a valuable external resource for reimbursing losses suffered by pension schemes. The asset protection thereby given is ultimately of benefit to pension scheme members.
In accordance with its clearly stated objective of helping to raise standards in pension scheme administration, OPDU provides a confidential Advisory Service to its members and its subsidiary, Trustee Risk Management Limited (TRM), also assists trustees with a risk-based approach to their duties.
OPDU's unique structure includes The Advisory Council. Elected by the membership, The Advisory Council's function is to ensure that the services and insurance provided continue to meet the changing needs of insured schemes.
OPDU is a subsidiary of Thomas Miller & Co. Ltd, the world's leading independent manager of mutual insurance companies, including schemes for professionals such as barristers, solicitors and patent agents.
OPDU Elite is underwritten by ACE European Group Limited.
Thomas Miller is expert in the provision of professional indemnity insurance. We are well known in the UK for managing insurance services for barristers, solicitors, patent agents, housing associations and pension fund trustees (OPDU). Our success in this field is due to a thorough knowledge of our clients' businesses and the issues facing them.
Visit the Thomas Miller website at www.thomasmiller.com
OPDU protects pension schemes by providing unique insurance cover to trustees, administrators and sponsoring employers.
Pension funds holding total combined assets in excess of £180 billion have joined OPDU.