In order to attract and retain the best employees, employers in every type of organization – from publicly traded corporations, to private companies to non-profit organizations – sponsor and fund employee benefit plans. As a result, the fiduciaries, directors and the corporate entity face potential liabilities that may arise from the mismanagement of these plans. ENCON’s Fiduciary liability insurance provides coverage for the sponsor organization and all the individuals who manage a variety of employee benefit plans.

The following list provides a sample of the types of employee benefit plans ENCON insures:

• Defined benefit plans
• Defined contribution plans
• RRSP
• Profit sharing
• Medical/Dental benefits
• Stand-alone plans
• Plans co-managed by the sponsor organization and a labour organization
• Primary and excess placements

• Policy Form – The insurance is written on a claims-made basis with full coverage for prior acts
• Policy Period – Annual and two-year policies
• Capacity – Limits up to $10,000,000
• Territory – Claims made in Canada

• Broad definition of insured person
• Entity coverage
• Duty to defend
• Low deductibles

• A completed ENCON Fiduciary Liability Insurance application form
• Attachments as indicated on the application form
• All applications must be submitted to ENCON through a licensed insurance broker

Professional Liability & Construction