Pension Plans

HUB International Ontario is Canada’s largest Multi-Employer Fiduciary Liability Insurance provider for Pension and Employee Benefit Trust Funds. With over 30 years’ experience, we understand the complex liabilities and legal vulnerabilities faced by fiduciaries.

As fiduciary, a Board of Trustees owes the beneficiaries of the Benefit Plan (i.e., Pension, Health and Welfare) a "duty of loyalty" by "acting prudently" according to plan documents. Most fiduciary liability claims occur because of allegations that these fiduciary duties have been breached through mismanagement, negligence or simply a mistake. Even the most diligent of fiduciaries can find themselves faced with the allegation of a “wrongful act”. Maintaining adequate Fiduciary Liability and Fidelity insurance protects plan assets and fiduciaries from these legal vulnerabilities, and so is part of prudent plan management. In addition to arranging insurance for plan trustees, HUB Ontario also plays a role in educating fiduciaries on the importance of insurance protection as a loss prevention tool.

Making an informed decision about good governance as it relates to loss prevention should begin with an understanding and awareness of the potential for claims. Trustees can never fully insulate themselves from liability. But their exposures can be greatly reduced, if not eliminated completely, by accepting the principle that the purchase of adequate insurance protection is the prudent course to take.

Common Coverages

HUB International Ontario Trust Fund Protection Plan, a program of insurance coverage for MultiEmployer Pension and Employee Benefit Trust Funds.


Our experts would welcome the opportunity to work with your office to provide comprehensive, cost effective insurance solutions for this very specific exposure.

Lillo DiPasquale

Senior Account Executive, Trust Fund Protection Plan, HUB International Ontario, Oakville
Phone: 905-582-7060

Lillo has more than 21 years of insurance experience in areas which include sales and marketing, underwriting and management positions. For over 13 years, he has specialized in the Labour Union sector, particularly the management and placement of Directors’ & Officers’, Errors & Omissions, and Fiduciary Liability insurance for Multi-Employer Pension and Employee Benefit Plans. Lillo is a speaker at the International Foundation of Employee Benefit Plans (IFEBP) Conference in Canada and regularly attends and speaks at Education Days held by various Third Party Administration / Consulting Offices and Law Offices across Canada.