Ullico Casualty Group has increased its fiduciary liability insurance limits from $15m to $25m, effective immediately. Limits are available on a primary or excess basis.
Ullico Casualty president Daniel Aronowitz said offering a $25m limit of liability will allow Ullico Casualty to serve the larger multiemployer and public funds’ fiduciary liability business.
Hudson senior vice president Steve Porcelli said company’s program with Ullico Casualty has been very successful. Ullico Casualty’s leadership and the professional underwriting and claims teams have demonstrated their deep understanding of the fiduciary liability marketplace.
"We want to expand our support of this program which has helped thousands of trust funds and their trustees by providing a competitive scope of coverage to protect the trustees from personal exposure," Porcelli said.
Ullico Casualty is the risk solutions provider for the union workplace. The company creates insurance products designed to grow the labor movement. From its core fiduciary liability insurance for multiemployer and public benefit funds, to its captive solutions that help reduce the cost of workers’ compensation for unionized employers, Ullico Casualty is providing solutions for the risk problems of its union affinity market.
Ullico Casualty aligns with Hudson Insurance Company to offer fiduciary liability insurance. Hudson is the lead primary insurer of Odyssey Re, the holding company for one of the underwriters of property and casualty insurance and reinsurance.
Ullico Casualty offers fiduciary liability through Ullico Labor Protection Group, a risk purchasing group filed and approved in Washington, DC and insured by Hudson.