Protecting Trustees and Pension Schemes
OPDU regularly reviews its policy wordings with its underwriters ACE to ensure that it continues to provide the most extensive insurance cover available designed to protect the personal liabilities of trustees and the assets of the pension scheme and sponsoring employer.
Accordingly, new enhancements of cover will be introduced shortly including importantly, extending the protection provided for retired trustees from 12 years to lifetime cover. This will provide individual trustees with valuable peace of mind in their retirement when they no longer have any say in whether their pension scheme should purchase insurance cover.
Full details of the new policy will be announced in November and circulated to OPDU Members.
Access is also given to OPDU’s specialist services which include a professional claims handling service provided by a team of in-house lawyers and pension professionals who deal with claims in a sympa-thetic manner in conjunction with your own advisors. OPDU also provides advisory and risk manage-ment services including a confidential advice line for trustees and administrators.
OPDU is pleased to assist whether your insurance needs relate to a current scheme or one that is being wound-up and the trustees and employer require discontinuance or run-off.
OPDU protects pension schemes by providing unique Pension Trustee Liability insurance cover to trustees, administrators and sponsoring employers.
Pension Schemes holding total combined assets in excess of £180 billion have joined OPDU.