Ace European Group has announced the launch of a pension trustee liability product, ACE PTL Elite, which will also provide access to a range of specialist support services offered by The Occupational Pensions Defence Union (OPDU).

The new product also gives access to OPDU’s specialist services which include a professional claims handling service provided by a team of in-house lawyers who deal with claims in a sympathetic manner.

The insurer said the enhanced PTL product is designed to protect pension scheme assets and personal liabilities of trustees and as such will provide the most extensive cover available in the market.

The product combines the best features of the cover previously provided by Ace and OPDU and introduces important enhancements of cover for costs incurred in taking action to prevent, limit or mitigate exposure to potential claims; extradition proceedings against trustees; court applications; investigatory and prosecution costs.

In a statement the company said, "In addition, there is new cover for public relations expenses to limit the damage of negative publicity on a fund’s reputation."

The new broader cover and additional support services will be available to all brokers under the ACE PTL Elite brand. It will be marketed to OPDU clients under the brand Ace OPDU Elite.

Emma Watkins, PTL specialist and Product Manager at Ace, said: “We have continued to enhance our PTL insurance to reflect the increasingly complex responsibilities and risks trustees face.”