RSA Insurance has launched a pension trustee liability (PTL) insurance product.

The product is aimed at UK pension schemes that are well funded with a financially strong employer who use independent professional advisors to manage their risk, including those requiring wind-up and run off cover for parts of their portfolio. It is designed to protect the liabilities of pension trustees, sponsoring employers and the fund or scheme itself against defence costs, awards and damages where actions are taken against them for alleged wrongful acts or omissions in respect of their administration and management of the pension scheme. Under the new offering, cover is available for both defined benefit (DB) and defined contribution (DC) schemes on an “any one claim basis”.

Brightwell has appointed Duco to automate and consolidate reconciliations as part of target operating model transformation.

The DB service provider will use Duco in its investment operations department to replace an inflexible legacy system that was limiting the firm’s growth, as it lacked the functionality needed to handle the variety of use cases and the volumes of data they needed to process. In contrast, Duco’s data automation platform is expected to enable Brightwell to normalise its data and consolidate its reconciliations for FX, OTC and ETD derivatives, fixed income and cash balances as trading volumes grow. Features such as advanced filters, transaction rollup rules, conditional rules and the data prep module are also expected to help Brightwell reduce the number of exceptions, allow them to build complex matching rules, and bring down the number of false positives.

Quietroom has announced plans to develop a new effectiveness framework to help encourage better pension communications.

The framework is being developed in response after a review over 40 pieces of industry research, covering 185 individual studies, which revealed that "pension communication is missing the mark". Looking ahead, the group argued that the industry neds to do more to 'share and learn' as a sector, stressing the need to test and learn to improve communications in future. In particular, the framework will look to consider the impact communication has on knowledge, understanding, confidence and trust, as well as on behaviour.

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