ACE Europe Launches New Pension Trustee Liability Product for Ireland

ACE Europe announced from its Dublin headquarters that it has launched a new Pension Trustee Liability (PTL) product “ACE Elite PTL IV,” which has been developed to provide comprehensive protection for Pension Trustees, Pensions Schemes and Employers in the Republic of Ireland.

“The enhanced PTL product provides the most extensive cover available in the market to protect pension scheme assets and the personal liabilities of trustees,” said the bulletin. “The product combines the best features of the cover previously provided by ACE and also introduces 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.”

Damien Toal, ACE’s Financial Lines Manager for Ireland, commented: “Providing trustees with the most comprehensive range of cover available in the market is at the heart of this new product. ACE Elite PTL IV has been developed with the changing regulatory environment in mind and we have continued to enhance our PTL insurance to reflect the increasingly complex responsibilities and risks trustees face in Ireland. Now pension trustees can take greater control over the protection of their personal assets.”

Source: ACE Europe – www.acelimited.com