Montvale, NJ (PRWEB) October 24, 2013
Colonial Surety Company, a leading insurance carrier of ERISA/Pension Fidelity Bonds, Fiduciary Liability, and Errors & Omissions (E&O) coverage, has announced a new program to offer special rates for E&O coverage to retirement recordkeepers and third party administrators who achieve industry certifications through the Centre for Fiduciary Excellence (CEFEX). E&O, also known as professional liability insurance, protects against claims if clients allege negligence or failure to perform professional duties.
Under the new program, CEFEX-certified firms may apply for coverage at preferred rates through Colonial Surety. The company’s president, Wayne Nunziata said “We appreciate the investment in people, process, and technology that elite firms make in achieving certification through CEFEX. It demonstrates a commitment to quality and we are very pleased to partner with CEFEX.”
In partnership with the American Society of Pension Professionals & Actuaries (ASPPA), CEFEX provides a rigorous, independent assessment of a firm’s governance, organization, human resources, operations, planning, systems, and disclosure practices. Carlos Panksep, Managing Director of the Centre for Fiduciary Excellence, added “We are happy to support this partnership with Colonial Surety to promote savings on professional insurance coverage. It’s another way to underscore the quality of this important independent certification.”
For more information on Colonial Surety ERISA/Pension Fidelity Bonds, Fiduciary Liability , and Errors & Omissions (E&O) coverage , please contact Robyn McNair, ERISA Manager at (201) 949-1130 or email at rmcnair(at)colonialsurety(dot)com
About Colonial Surety
Colonial Surety Company a leading insurance carrier of ERISA/Pension Fidelity Bonds, Fiduciary Liability and Errors & Omissions coverage for private employee benefit plans and service providers. Licensed and admitted in all states and territories, the company is committed to providing innovative products, services, and management tools online to Pension Professionals and Plan Sponsors. Learn more at http://www.colonialsurety.com.
The Centre for Fiduciary Excellence, LLC. is an independent certification organization. CEFEX works closely with industry experts to provide comprehensive assessment programs to improve the fiduciary practices of investment stewards, advisors, recordkeepers, administrators and managers. CEFEX has offices in Pittsburgh, PA and Toronto, Canada.