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professional liability insurance info for nteu members


 Welcome to the National Treasury Employees Union:
 Chapter 47

NTEU Membership Benefits:

Summer 2005


PROFESSIONAL LIABILITY INSURANCE

 

Professional liability insurance is available to NTEU members to help protect them while
 performing their official duties! In partnership with The Insurance Exchange, the program
 offers the following benefits:
 

DAMAGES

The policy will pay all sums up to one million dollars ($1,000,000), which you are obligated to
 pay as damage in suits based on acts, errors, or omissions committed in the performance of
 official duties.

LITIGATION DEFENSE

The insurance company will provide counsel, without limitation, to defend any suite for damage
 brought against you. This counsel is available if either the Department of Justice delays or
 declines representation. This product is also available to monitor and oversee representation
 provided by the Department of Justice.

ADMINISTRATIVE EXPENSE COVERAGE

The insurance company will provide counsel and pay cost of defense and monetary penalties
 arising out of disciplinary proceedings (including investigations) and judicial sanctions
 (monetary penalties imposed by any adjudicatory body as a result of error act or omission).
 Up to $100,000 annually is available for these expenses.

ANNUAL PREMIUMS

Premiums are graduated based on member's grade. The premiums are significantly less that the
 other professional liability insurance product that is available to federal employees. The annual
 premium of this product ranges from $51 plus tax for a GS-4 to $252 plus tax for a GS-15.


*To find out more information, see policy language or to print an application,
 
Click Here to visit The Insurance Exchange’s website.

 
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