Liability for Pension Funds (Organisms Financing Pensions)
PTL insurance covers the liability of management as well as the professional liability of the pension fund.
The liability of the managers is the liability resulting from management mistakes made in the execution of specific management functions (irrespective of the activities of the enterprise).
Professional liability concerns the liability of a pension fund, the corporate employer and the employees of the pension fund resulting from damages caused to third parties by activities of the pension fund.
Professional Liability is the greatest risk for a pension fund. Even if management was transferred to a financial institution or actuaries, the risk remains since the pension fund retains its duty to supervise.