Management and Professional Liability
Combat Risk and Rising Litigation Trends
Our Management and Professional Liability policy was designed especially for credit unions. This policy helps ensure that your credit union, staff, directors and volunteers are protected.
Telephone Consumer Protection Act (TCPA) lawsuits remain one of the most filed types of class actions, and unsettled law continues to place a compliance burden on companies that communicate with consumers by phone or text.*
- Industry-leading coverage helps protect your credit union, staff, directors and volunteers.
- Third-party litigation team is 100% dedicated to helping you navigate through the complex world of litigation in the event of a lawsuit brought against your credit union.
- Direct, multi-channel access to our Risk & Compliance Solutions team of consultants always ready to help you manage your most pressing risks and compliance concerns.
- Tools and resources for better protection against emerging risks.
- Efficient online processes and interactive forms to submit claims and manage policies.
- Management Liability - Protects your credit union and the personal assets of your directors, officers, volunteers and employees against lawsuits related to management of your credit union.
- Lender Liability - Pays on behalf of any insured, loss as a result of a claim brought by a borrower for a wrongful lending liability act or a wrongful vicarious lending liability act.
- Fiduciary Liability - Pays on behalf of any insured, loss as a result of a claim for a wrongful fiduciary liability act.
- Professional Liability - Pays on behalf of any Insured, Loss as a result of a claim for a wrongful credit union services liability act.
- Employment Practices Liability - Protects the credit union and other insured persons such as directors, officers or employees for loss they are legally obligated to pay related to current, past, future or prospective employment for employment practice violations.
- Enhanced Defense Reimbursement - First-of-its-kind industry coverage that provides reimbursement for defense costs associated with certain losses that are otherwise excluded from any policy. Expanded to include reimbursement of defense costs for lawsuits alleging violation of Telephone Consumer Protection Act (TCPA). Policy changes are effective upon renewal (on or after October 1, 2017) and are dependent upon state approval.
- Personal Excess Liability - Provides a stand-alone limit for each named insured person when the Management Liability Individual coverage limit has been exhausted.
CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Insurance products offered to financial institutions and their affiliates are underwritten by CUMIS Insurance Society, Inc. or CUMIS Specialty Insurance Company, members of the CUNA Mutual Group. Some coverages may not be available in all states. If a coverage is not available from one of our member companies, CUNA Mutual Insurance Agency, Inc., our insurance producer affiliate, may assist us in placing coverage with other insurance carriers in order to serve our customers’ needs. CUMIS Specialty Insurance Company, our excess and surplus lines carrier, underwrites coverages that are not available in the admitted market.