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OPDU Report 25 - November 2008 Bulletin Board As many readers will be aware, earlier this year OPDU and its underwriters, ACE, combined their expertise to launch a new product “OPDU Elite” which provides the most extensive insurance cover available designed to protect the personal liabilities of trustees and the assets of the pension scheme and sponsoring employer. The product also provides access to OPDU’s specialist services which include a professional claims handling service provided by a team of in-house lawyers who deal with claims in a sympathetic manner. OPDU also provides advisory and risk management services including a confidential advice line for trustees and administrators. The product includes the best features of the cover previously provided by OPDU and ACE and introduced important enhancements of cover for costs incurred in taking action to prevent, limit or mitigate exposure to potential claims; extradition proceedings against trustees; court applications; investigatory and prosecution costs. In addition, there is new cover for public relations expenses to limit the damage of negative publicity on a fund’s reputation. Jonathan Bull, Executive Director of OPDU, commented at the launch: “OPDU and ACE share a commit-ment to delivering the best possible support and protection to those involved in the administration of pension schemes. The development of this superior product further underlines the reputation of both organisations for their continuing innovation and improvements in cover and services provided in this field.” For full details please contact Jonathan Bull at OPDU: ACE is a leader in insurance and reinsurance combining professional expertise in underwriting with financial stability and strength.
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