Pension Plan and Fund Oversight Commissions
Insurance for Administrators and Directors
Insurance for Administrators and Directors
The members of the Pension Plan and Fund Oversight Commissions manage the operation, the compliance with the plan’s clauses (rights of the participants and beneficiaries), the execution of the plans and they also perform their duty without any remuneration, but accepting the liability that could stem from their performance.
In addition to enforcing the clauses of the plan, their main functions also include selecting actuaries, proposing and agreeing to changes involving contributions, benefits and other variables, naming representatives to the Fund Oversight Commission, representing the collective interests of participants and beneficiaries and deciding on aspects as provided for by law.
The insurance covers claims filed against the Insured for acts of negligent management committed during the period insured or prior to it, unless the claim stems from:
If the policy is not renewed, the policyholder can purchase a discovery period of 12, 24 or 36 months with an additional premium of 0%, 75% and 125%, respectively.
This policy offers complete, secure protection that is tailored to the personal risk that members are exposed to every day.