In an effort to better serve the insurance needs of our union clients, Cornerstone Benefits Management has recently partnered with Eberts & Harrison to offer Property & Casualty Insurance coverages. More specifically, Cornerstone will now be offering Union Liability, Property, General Liability, Worker’s Compensation, Fiduciary Liability, ERISA Bonds and many other important insurance coverages that may be applicable to union operations.
Union Liability Insurance provides comprehensive coverage developed specifically for the unique risks and legal threats that Unions and their Leaders are exposed to in running a Labor Union. The policy reimburses the fees and expenses of lawyers, and any settlements or damages as a result of covered claims brought against the Union and its Labor Leaders.
The Union Liability Insurance Policy has been crafted to protect Unions and their Leaders from the following five types of claims:
- Duty of Fair Representation
- Financial Management of the Union
- Personal Injury Coverage
- Employment Practices Liability
- Individual Labor Leader Coverage
Union Liability claims are on the rise due to greater member awareness and the role of unscrupulous attorneys seeking to manufacture Union Liability claims for their own personal gain. No Union or Union Leader is immune to the threat of these types of claims. Transferring this risk of financial loss from the Union and its Leaders to an insurance carrier by purchasing a Union Liability Insurance policy is a prudent decision that every Union Leader should consider.