MGA launches pension trustee liability offering

Amiga Specialty has launched its pension trustee liability run-off and overlooked beneficiary insurance (Roobi) offering.

The new facility enables the MGA to provide limits of up to £5m in the aggregate, with policy periods of up to 15 years, supporting pension schemes connected to sponsoring employers domiciled in the UK, Guernsey, Jersey, the Isle of Man and Gibraltar, with worldwide territorial coverage available.

Backed by A rated capacity, the product is designed to address the complex, long-tail exposures that can arise during and following pension scheme wind-ups.

Jamie Ricketts, managing director for financial institutions at Amiga, said: “Pension trustee liability Roobi is a highly specialist area requiring detailed understanding of pension scheme wind-ups and the exposures that can remain long after completion.

“This product reflects that, combining our experience with a flexible, long-term solution for brokers in a market where specialist capacity remains limited.”

Expansion

The product further expands the MGA’s specialist financial lines capability.

Adam Kembrooke, founder and chief executive at Amiga, added: “This is a product we have always planned to bring to Amiga.

“Backed by A rated capacity, and alongside our broader financial lines capabilities, it further strengthens our ability to support brokers and clients with a comprehensive and specialist-led offering.”