When a small tool-and-die company that offered its employees Long-Term Disability LTD and life insurance plans failed to notify the life insurance company that premium payments would be suspended for an employee out on LTD, the life insurance was terminated. When the employee died and the life insurance company denied...
Fiduciary liability insurance is an insurance product which provides protection to those responsible for the governance, management and administration of pension and benefit plans. Attitudes regarding fiduciary liability insurance vary widely. If surveyed about it, a pension or benefit fiduciary would likely express This article provides background on fiduciary liability...
Fiduciary liability insurance covers pension fund trustees and retirement plan sponsors' directors and officers for claims asserting violations of fiduciary duty under the Employee Retirement Income Security Act ERISA. Monitoring the fiduciary liability insurance market is like watching a rerun of a bad movie. In the wake of the corporate...
The largest accumulation of capital in the world is invested through employee benefit plans, and little if anything in the known universe--let alone anything on Wall Street--has ever successfully defied the old adage that what goes up must come down. In the wake of the Enron debacle, each day’s news...
ERISA provisions on fiduciary liability can be very confusing. This article looks at the blurred lines surrounding plan design and fiduciary liability-or are they blurred? It discusses about plan design is a settlor function, not a fiduciary function. In other words, plan design is left to the employer as the...
LOS ANGELES, July 8 /PRNewswire-FirstCall/ -- Aon Risk Services Southern California, a unit of Aon Corporation , the world's leading provider of global risk management and consulting services, today announced that Brendan Dolan has joined the Los Angeles office as senior vice president of the Financial Services Group. ...
NEW YORK -- The Navigators Group, Inc. (NASDAQ:NAVG) announced today that it has launched underwriting operations in Sweden through its new underwriting agency, NUAL AB, and has opened a Stockholm office. The office, under the leadership of Sverker Edstrom, Managing Director, NUAL AB, will initially focus on management and professional...
[ILLUSTRATION OMITTED] The Denver office of Lockton Cos. has acquired Schwander Insurance Services, a Centennial, Colo.-based firm specializing in directors' and officers' liability, fiduciary liability and employment practices liability. Schwander CEO and President MICHAEL SCHWANDER, with 28 years experience mostly in senior management positions at Aon, has become...
New Resources Available for Management and Professional Liability Customers to Help Mitigate Potential Exposures SAINT PAUL, Minn. -- Travelers Bond & Financial Products today announced major enhancements to Risk Management PLUS+ Online([R]) (www.rmplusonline.com), a risk management services Web site for customers. The expanded site includes risk management information...
FARMINGTON, Conn., June 26 /PRNewswire-FirstCall/ -- Beazley Group plc (BEZ.L), a leading insurer of management liability risks, announces the availability of its new management liability package policy, BeazleyOne. This new policy combines employment practices, directors and officers and fiduciary liability coverage. The package policy offers insureds...
Policy Protects Government Employee Benefit Plan Trustees Against Today's Fiduciary Liabilities NEW YORK -- AIG Executive Liability([R]), a unit of AIG Commercial Insurance, today introduced Public Entity Plan and Trustee Protector, a policy that protects individuals who manage public entity employee benefit plans from fiduciary liability exposures. ...
DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/reports/c93868) has announced the addition of "Niche Specialty Insurance Sectors in the United States - Global Strategic Business Report" to their offering. The Niche Specialty Insurance Sectors in the United States Report provides insightful analysis, market overview and outlook of Specialty Liability,...
54 Health Systems, Hospitals Share Fidelity & Fiduciary Liability Profits CHARLOTTE, N.C. -- Premier Insurance Management Services Inc., PIMS a wholly owned subsidiary of Premier Inc., has returned nearly $475,000 in experience credit payments to 54 hospitals and healthcare systems that participate in its Fidelity & Fiduciary Liability...
Schwander Insurance Services Team Adds Depth to Lockton's Executive Risk Management Capabilities DENVER -- The Denver office of Lockton Companies, LLC, the world's largest privately held insurance broker, has strengthened its capabilities in the financial services sector with the acquisition of Schwander Insurance Services of Centennial, Colo. ...
Byline: Tom Willetts Investment experts have broken ground to call for reform of the trustee model over concerns that sophisticated investing styles are being neglected. Their complaint is that most trustees lack understanding of swaps and derivatives and are...
NEW YORK -- Arch Insurance Group, a member of Arch Capital Group Ltd., recently announced that it has made enhancements to its fiduciary coverage. As the management of employee benefit plans receives greater scrutiny than ever before and fiduciary liability claims balloon in both frequency and severity, companies...
THE DANGERS posed to lawyers and law firms by representing dishonest clients are clear. Since 1986, there have been at least forty-five publicly-reported settlements by, or verdicts against, law firms exceeding $20 million, thirty-four of which were attributable in whole or large part to the firm's...
LOS ANGELES -- Attorney Advertising. The law firm of Milberg LLP announces that it filed a derivative lawsuit on January 30, 2008 in the Superior Court of California, County of Santa Clara, against certain directors and/or officers of ShoreTel, Inc. (Nasdaq: SHOR) ("ShoreTel" or the "Company") and that it is...
COLUMBIA, MD. -- James Miller, former chief executive of U.S. Foodservice, based here, has agreed to pay $8 million to Royal Ahold, USF's former parent company. Miller had filed a suit claiming his former employer had reneged on a promise to extend post-termination benefits and a severance payment after he...
PEORIA, Ill. -- RLI Corp. (NYSE:RLI) - RLI announced the addition of David Shanosky, CPCU, CPA, as New York Regional Manager for its Executive Products Group EPG. From RLI EPG's Summit, N.J. office, Mr. Shanosky will be responsible for the management of EPG's policies including, but not limited to, the...
Articles 2008-02-21
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