Ullico Casualty Group Inc., a wholly-owned subsidiary of Ullico Inc., has increased its fiduciary liability insurance limits from $15 million to $25 million, effective immediately. Limits are available on a primary or excess basis.
“Offering a $25 million limit of liability will allow Ullico Casualty to serve the larger multiemployer and public funds’ fiduciary liability business,” says Daniel Aronowitz, president of Ullico Casualty.
Ullico Casualty aligns with Hudson Insurance Company to offer fiduciary liability insurance. Hudson is rated “A”, financial size category XV (surplus greater than $2 billion) by A.M. Best as of 10/30/2010. Hudson is the lead primary insurer of Odyssey Re Holdings Corp., the holding company (with a surplus greater than $3.5 billion).
Ullico Casualty’s fiduciary program offers a unique policy that combines a “duty to defend” policy form with the insured’s ability to select counsel. Other policy highlights include expanded Health Insurance Portability and Accountability Act (HIPAA) coverage for penalties imposed by the Health Information Technology for Economic and Clinical Health Act (HITECH), the Pension Protection Act (PPA) including 502(c) liabilities, the recently enacted Patient Protection and Affordability Coverage Act (PPACA) and defense cost protection for trustees facing liability for non-fiduciary duties.
Ullico Casualty offers fiduciary liability through Ullico Labor Protection Group, a risk purchasing group filed and approved in Washington, D.C. and insured by Hudson.
Source: Ullico Casualty
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