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Chartis Introduces Fiduciary Liability Insurance Edge for Plan Fiduciaries
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NEW YORK – September 21, 2010 – Chartis today introduced Fiduciary Liability Insurance Edge, a new insurance solution developed by its Executive Liability Division to address the evolving fiduciary liability exposures facing companies, plans, executives and employees.

Fiduciary Liability Insurance Edge offers coverage for board members, executives and companies to protect them against highly complex Employee Retirement Income Security Act (ERISA) and employee benefits litigation in innovative ways. By extending coverage to company executives who are merely alleged to have acted as plan fiduciaries, but who are later proven to have been acting only in a business or “settlor” capacity, Fiduciary Liability Insurance Edge eliminates the potential that a successful defense could result in a business executive losing coverage.

Fiduciary Liability Insurance Edge offers the following:

  • Flexible notice features for fact-finding government investigations and internal appeals of benefit denials;
  • Coverage for penalties under recently enacted health care reform regulations; and
  • Expanded coverage relating to voluntary governmental compliance programs.

“Economic developments, legislative agendas and recent court decisions have left fiduciaries more vulnerable than ever,” said Michael Smith, President of Executive Liability. “Fiduciary Liability Insurance Edge gives business executives and plan fiduciaries state-of-the-art coverage in response to the unprecedented level of risk they face today.”

For more information on Fiduciary Liability Insurance Edge, please contact executiveliability@chartisinsurance.com or visit www.chartisinsurance.com.

About Chartis

Chartis is a world leading property-casualty and general insurance organization serving more than 70 million clients around the world. With one of the industry’s most extensive ranges of products and services, deep claims expertise and excellent financial strength, Chartis enables its commercial and personal insurance clients alike to manage virtually any risk with confidence.

Chartis is the marketing name for the worldwide property-casualty and general insurance operations of Chartis Inc. For additional information, please visit our website at http://www.chartisinsurance.com. All products are written by insurance company subsidiaries or affiliates of Chartis Inc. Coverage may not be available in all jurisdictions and is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain coverage may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.

Marie Ali