The Professional Liability Insurance Program (PLIP) is a package consisting of the following coverage, tailored to meet the unique exposures of credit unions and their related entities:
- Directors and Officers Liability
- Corporate Errors & Omissions liability
- Includes Insurance Agency Errors & Omissions liability
- Employment Practices liability
- Comprehensive Privacy liability (optional coverage)
Purchasing insurance as a group provides which are passed directly on to participants. Excess insurers provide terms which recognize the benefits of risk diversification and the reduced cost of administration versus many individual policies. Additionally, the relatively high policy limits provided by the PLIP may be unavailable or unaffordable if purchased separately.