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From the Editors of CU Weekly
PROTECT YOUR CU FROM LITIGATION
10/17/14 03:06 PM
CUNA Mutual Group Policies
With the process of foreclosing loans and repossessing collateral under increasing scrutiny, credit unions are facing a surge of lawsuits related to wrongful repossession of collateral, specifically over defective notices of intent to sell and notice-of-deficiency forms.
CUNA Mutual Group’s Management & Professional Liability policy offers credit unions the most comprehensive coverage in the marketplace, protecting the personal assets of directors, officers, volunteers, and employees. Its multi-faceted coverage is paired with risk consultation and offers protection for lawsuits arising from errors, omissions, mismanagement, misleading statements, and more.
- Enhanced Defense Reimbursement: First-of-its-kind coverage that provides reimbursement for costs associated with some losses that are otherwise excluded from your policy, including injunctive relief, patent infringement, Consumer Financial Protection Bureau violations, overdraft resequencing, and more
- Management Liability: Amended individual coverage to be non-rescindable
- Lender Liability: Broadened coverage grant and removed the participation loan exclusion
- Fiduciary Liability: Broadened the definition of insured plan
- Employment Practices Liability: Broadened the definition of Wrongful Employment Practices Liability Act
CUNA Mutual Group’s Management and Professional Liability policy is coupled with Risk Management Services, providing additional protection from emerging risks and trends.
Click here to learn more about CUNA Mutual Group.