Pension Fund Trustees Liability Ncedi Mbongwe

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Pension Fund Trustees Liability Ncedi Mbongwe. Introduction to Camargue Underwriting Managers. Established in 2001 Underwriters: Mutual and Federal and Lloyds General Liability Directors and Officers Liability Employment Practices Liability Professional Indemnity Commercial Crime - PowerPoint PPT Presentation

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<p>PowerPoint Presentation</p> <p>Pension Fund Trustees Liability </p> <p>Ncedi Mbongwe 1Introduction to Camargue Underwriting ManagersEstablished in 2001Underwriters: Mutual and Federal and Lloyds General LiabilityDirectors and Officers LiabilityEmployment Practices LiabilityProfessional IndemnityCommercial CrimePension Fund Trustees Liability; Medical Malpractice; Providers of Liability Risk Management Services</p> <p>The CoverSectionsErrors and OmissionsFraud/FidelityComputer Crime</p> <p>The CoverThe Fund is covered against:Errors and omissions (Negligence)Theft and fraud (perpetrated by an officer)Third party computer crime The CoverTrustees and principal officers receive:Professional indemnity cover</p> <p>Fund receives:Fidelity cover and Third Party Computer crimes cover</p> <p>What is a loss?Damages, judgements, settlements, costs and expenses awarded against the Insured, as well as costs and expenses incurred with the written consent of the Insurer and costs of legal representation. Whom is the policy covering?Losses caused to the Fund by an officerThe Pension Funds Act definition of an Officer states:An Officer, in relation to a fund, means any member of a board, any manager, principal officer, treasurer, clerk or employee of the fund, but does not include an auditor or a valuator The policy wording defined Officer as:a present or past committee member, manager, trustee, principal officer, treasurer, clerk or employee of the Fund. Things to ConsiderConsiderationsCover is a statutory and governance requirement:Pension Funds Act, Regulation 30(2)(u)PF130: Good Governance of Retirement FundsUnderinsuranceService providers PI/FGService providers SLAsRisk Management BenefitsValue-Added ServicesPrivate arbitration services (TOKISO Dispute Settlement)Trustee and principal officer educationGovernance surveysBank account verification for large paymentsLIMITDisclaimer The Camargue Internet team strives to provide you with useful, accurate, and timely information in this presentation. Accordingly, Camargue has attempted to provide accurate information and materials in this presentation but assumes no responsibility for the accuracy and completeness of that information or materials. Camargue may change the content of any information or materials available in this presentation, or to the products described in them, at any time without notice. However, Camargue makes no commitment to update the information or materials in this presentation which, as a result, may be out of date.</p> <p>Information and opinions expressed in bulletin boards or other forums are not necessarily those of Camargue. Neither Camargue, nor its officers, directors, employees, agents, distributors, or affiliates are responsible or liable for any loss damage (including, but not limited to, actual, consequential, or punitive), liability, claim, or other injury or cause related to or resulting from any information posted on Camargue Web site. Camargue reserves the right to revise these terms and/or legal restrictions at any time. You are responsible for reviewing this page from time to time to ensure compliance with the then-current terms and legal restrictions because they will be binding on you. Certain provisions of these terms and legal restrictions may be superseded by expressly designated legal notices or terms located on particular pages of this Web site.</p> <p>ALL INFORMATION AND MATERIALS AVAILABLE IN THIS PRESENTATION ARE PROVIDED "AS IS" WITHOUT ANY WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, AND CAMARGUE DISCLAIMS ALL WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF INTELLECTUAL PROPERTY OR ARISING FROM A COURSE OF DEALING, USAGE OR TRADE PRACTICE. IN NO EVENT SHALL CAMARGUE BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, INDIRECT, SPECIAL, CONSEQUENTIAL OR INCIDENTAL DAMAGES OR THOSE RESULTING FROM LOST PROFITS, LOST DATA OR BUSINESS INTERRUPTION) ARISING OUT OF THE USE, INABILITY TO USE, OR THE RESULTS OF USE OF THIS PRESENTATION, ANY PRESENTATIONS LINKED TO THIS PRESENTATION, OR THE MATERIALS OR INFORMATION CONTAINED AT ANY OR ALL SUCH PRESENTATION, WHETHER BASED ON WARRANTY, CONTRACT, TORT OR ANY OTHER LEGAL THEORY AND WHETHER OR NOT ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IF YOUR USE OF THE MATERIALS OR INFORMATION ON THIS PRESENTATIONS RESULTS IN THE NEED FOR SERVICING, REPAIR OR CORRECTION OF EQUIPMENT OR DATA, YOU ASSUME ALL COSTS THEREOF.13</p>

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