OPDU introduction
OPDU protects pension funds by providing
unique insurance cover to trustees, administrators and sponsoring
employers. Pension funds holding total combined assets in excess of
£110 billion have joined OPDU. The membership ranges from large
funds to small.
OPDU's members can readily purchase limits
of cover between £1million and £25 million. OPDU's
cover has been developed for the special insurance needs of pension
funds, but can be varied to meet the specific requirements of individual
schemes.
OPDU affords a valuable external resource
for reimbursing losses suffered by pension funds. The asset protection
thereby given is ultimately of benefit to pension fund members.
In accordance with its clearly stated objective of helping to raise
standards in pension scheme administration, OPDU
offers a confidential Advisory Service. OPDU's
subsidiary, Trustee Risk Management Limited, also assists trustees
by undertaking due diligence reviews.
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 by
OPDU continue to meet the changing needs
of members.
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's insurance cover is underwritten
by ACE Insurance S.A.-N.V.
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