What it does
CU 04 03 adds employee benefits liability coverage, on a claims-made basis, for negligent acts, errors or omissions in the administration of the insured's employee benefit program, excess of the retained limit shown in the endorsement. ISO revised it to a 06 26 edition; state versions include Connecticut (CU 04 07), Michigan (CU 04 28) and Oregon (CU 04 36).
Who needs it
Employers with an underlying EBL endorsement on the CGL that want umbrella limits above it.
How it fits the umbrella
ISO umbrella endorsements are listed on the umbrella declarations and change the CU 00 01 coverage form. Many are designed to follow a matching CGL, auto or employers liability endorsement so that the umbrella and the underlying policies respond the same way; when you add the underlying endorsement, ask whether the umbrella needs its counterpart.
Quoting and selling notes
- Schedule the EBL coverage and its retroactive date as underlying insurance.
- EBL is not fiduciary liability; ERISA fiduciary breaches need a fiduciary policy.
Related forms
See CU 27 10, CU 27 00.
