Attachment H - The Euclid Vanguard Fiduciary Liability Insurance Policy.pdf

This document is an insurance policy for Fiduciary Liability coverage provided by Euclid Vanguard. The policy covers the City of Euclid, its employees, and elected or appointed officials against claims related to their fiduciary duties. The policy period is from January 1, 2022 to January 1, 2023, with options to renew annually. The policy provides $5 million in coverage per claim, with a $25,000 deductible. Coverage includes protection against claims of mismanagement of employee benefit plans, pension funds, and other fiduciary responsibilities. The policy also includes supplemental payments for defense costs, settlements, and judgments.

The policy premium is $75,000 per year. There are no set-asides or incumbent information provided. The policy is funded through the City of Euclid's general fund. The policy provides comprehensive fiduciary liability coverage to protect the City and its officials in the performance of their fiduciary duties.