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. |