The Board of Directors of the National Conference on Public Employee Retirement Systems NCPERS, a trade association for public sector funds, has unanimously endorsed Ullico Casualty Group Inc.’s fiduciary liability insurance program for its members. The members of NCPERS manage approximately $3 trillion in pension assets in trust in more than 500 public sector funds, benefiting approximately 21 million public sector employees and retirees.*
Highlights of the NCPERS fiduciary liability insurance program include a duty to defend provision with the policyholder’s right to select counsel, which allows the policyholder to work with their own defense attorneys.
Arthur J. Gallagher will continue to provide risk management products and services to NCPERS members, including the new public fund fiduciary liability program, and maintains a longstanding partnership with the trade association.
Ullico Casualty Company offers fiduciary liability insurance on Hudson Insurance Co. paper.
The NCPERS fiduciary liability insurance program is available through independent insurance agents and brokers. The program is expected to launch in the fourth quarter of 2011 for policies beginning with January 1, 2012 effective dates.
* Source: http://www.ncpers.org/AboutUs/
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