Optional Coverages
Here at Moody Insurance Worldwide, we "do it all" with insurance coverages from Property to Liability - from Mobile Equipment to Special Events and whole lot more - for companies big and small - throughout the U.S. and around the world.

Here are just a few of the coverages we offer outside of the standard program package:

We can help, and that's our job as your agent...
You can count on Moody Insurance Worldwide!

Employment Practices Liability Insurance (EPLI)

Running a residential cleaning service isn't easy. Meeting the needs of your customers, returning phone calls, keeping up with paperwork and a hundred other important details - there are a number of challenges. Finding the right insurance coverage shouldn't be one of them.

Employment Practices Liability Insurance (EPLI) coverage has become more and more essential in our increasingly litigious environment. EPLI, in short, provides protection for your business against wrongful employment practices claims.

Today, employment-related lawsuits are on the rise due to new federal and state legislation, expanding judicial interpretations and widespread media coverage. Companies of all sizes are vulnerable. Sexual harassment, wrongful termination, and discrimination lawsuits can wreak havoc on a business' bottom line. Worse, even frivolous, unsubstantiated claims must be defended, often at considerable expense -- and lawyers are searching for pockets, any pockets, for compensation.

Please call us for a quotation or for more information on Employee Benefits Liability. Or send us an email at customerservice@moodyinsurance.com.

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Employee Benefits Liability

If you provide your employees with benefits plans such as health, life or disability, you should consider Employee Benefits Liability coverage. This insurance covers the cost to employees that result from employer processing errors related to employee benefits. Some examples of this would be an employer not providing the employee with the appropriate COBRA information following termination that results in the ex-employee losing benefits, or an employer neglecting to add an employee to a benefits plan or adjusting coverage as requested.

Many times, this important coverage can be added by endorsement to the General Liability section of your main Package Policy, often at a very affordable premium.

Employee Benefits Liability insurance DOES NOT INCLUDE fiduciary responsibilities or any discrimination or harassment situations. See separate sections on Fiduciary and EPLI coverages.

Please call us for a quotation or for more information on Employee Benefits Liability. Or send us an email at customerservice@moodyinsurance.com.

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ERISA Bonding and Fiduciary Liability

If you have a 401k plan, you no doubt have an ERISA bond currently in force. Often ERISA coverage can be extended from your company's existing Employee Dishonesty insurance, and the premiums are very affordable.

An important coverage gap that you may not even know about is Fiduciary Liability. Fiduciary Liability insurance is often overlooked but should be written hand-in-hand with your ERISA coverage. Unlike Employee Benefits Liability insurance, which excludes ERISA, Fiduciary Liability insurance covers not just administrative "paperwork" errors, but financial and strategic missteps.

What is ERISA?

ERISA is the Employee Retirement Income Security Act of 1974. It governs 401K plans and is designed to protect the rights of the plan participants and beneficiaries. For more on ERISA, contact or refer to the web site for the branch of the Department of Labor (DOL) that addresses ERISA issues known as the Employee Benefits Security Administration. See www.dol.gov/ebsa.

What is an ERISA Bond?

ERISA bonds are a type of "employee theft insurance". They are also referred to as "fidelity" bonds or insurance. They protect 401k plans from embezzlement or loss of funds from theft allegedly due to employees or trustees of the plan. It does not provide liability coverage; the purpose of the bond is to put the money back into the employee's retirement accounts.

What is required by ERISA with respect to bonding?

A fidelity bond or insurance policy is required. For most plans, the Act reads, "...Such bond shall provide protection to the plan against loss by reason of acts of fraud or dishonesty on the part of the plan official, directly or through connivance with others… Such amount shall be not less than 10 percent of the amount of funds handled. In no case shall such bond be less than $1,000, nor more than $500,000…"

What is a "Fiduciary"?

Fiduciary under ERISA refers to the person who provides investment advice to a company's qualified retirement plan for a fee, and/or has discretionary control or authority over the administration of the plan, and/or has authority or control over the assets of the plan.

What is Fiduciary Liability Insurance?

Fiduciary Liability insurance covers mistakes of a strategic and financial management nature made by an employer in the administration of employee benefits plans, including retirement and pension plans. Unlike a crime policy or bond, it requires the insured be sued, or a written demand for damages be received. Fiduciary Liability insurance responds to protect not only the business, but also the personal liability exposure of the Fiduciary.

You might be surprised to find out just how affordable Fiduciary Liability insurance coverage is. Please call us for a quotation or for more information. Or send us an email at customerservice@moodyinsurance.com.

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Identity Fraud Expense Coverage Master Policy
Identity Theft…

…is one of the fastest growing crimes in the country today, impacting several million people per year. The Federal Trade Commission released a report in September 2003 stating that in the last five years over 27 million Americans have been victims of identity theft. They also report that identity theft losses to businesses and financial institutions totaled nearly $48 billion in the last year alone, and individual victims reported $5 billion in out-of-pocket expenses. Most individuals are under the belief that their bank or credit card company will bear the burden of their loss with no consequences to themselves. However, they should be aware that they will not be reimbursed for the hundreds of hours and thousands of dollars in out-of-pocket expenses they may incur to re-establish their credit and clear their name.

Protect Your Customers & Employees

While the problem of identity theft is a growing concern, many people are not fully informed of the potential costs until they fall victim to the crime. By purchasing an Identity Fraud Expense Coverage Master Policy (underwritten by Travelers Bond) for your customers or employees, you can help them gain an understanding of their exposure to identity theft in a timely manner. Their heightened awareness and vigilance may not only minimize their own financial loss, but may save you thousands or even millions of dollars as well. People want to know their employer is concerned with their financial security and personal well-being. By providing your customers or employees with Identity Fraud Expense Coverage from Travelers Bond, you show your commitment to your relationship with them.

What kind of coverage can be purchased under the Identity Fraud Expense policy?

Some of the coverages available for purchase under the master fraud policy include:

  • Lost wages as a result of time taken off from work to deal with the fraud, including wrongful incarceration. Lost wages are frequently cited as the biggest headache for victims of identity theft.
  • Notary and certified mailing charges for completing and delivering fraud affidavits or similar documents.
  • Fees to re-apply for loans that were denied due to erroneous credit information due to the identity theft.
  • Long distance telephone charges for calling merchants, law enforcement agencies or credit grantors to discuss an actual identity theft.
  • Attorney fees incurred, with prior consent of the insurance company, for:

    • defending suits brought incorrectly by merchants or their collection agencies
    • removing criminal or civil judgments wrongly entered against the victim
    • challenging information in a credit report

Please call us for a quotation or for more information on Identity Fraud Expense coverage. Or send us an email at customerservice@moodyinsurance.com..

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Employee Benefits Supplemental Insurance from Aflac

Attract new employees and lower employee turnover by offering benefits from Aflac through Moody Insurance Worldwide.

Aflac has been chosen by over 40 million people worldwide! Aflac offered through Moody Insurance Worldwide…

  • Is FREE to your company
  • Immediately cuts your company's payroll taxes - 8 cents on every dollar.
  • Significantly improves employee retention by providing a complete set of employee benefits
  • Provides your employees the protection from financial disaster they require when they or their family members experience medical events - employer-funded benefits do not meet employees' financial needs.
Implementing Aflac couldn't be easier!
  • Absolutely NO CHANGE TO YOUR CURRENT EMPLOYEE BENEFITS - Aflac works shoulder-to-shoulder with any other benefits your employees have now. Benefits are paid in cash direct to employees
  • Implement within 7 days regardless of any other insurance plans, including all employee and family medical, maternity, and disability income events.
  • Absolutely NO ADMINISTRATIVE HASSLE - Aflac does it all from education, enrollment, to direct daily claims processing.
  • Absolutely AFFORDABLE - weekly pre-taxed employee payroll deductions are less than $6 a week.
  • It's EASY, QUICK, HASSLE FREE, and immediately returns money to your company's operating budget.

Aflac simply makes sound business sense to decision makers like you who have a keen focus on profitability. After your employees learn about their Aflac benefits in a mandatory all-employee meeting, 70% will gratefully enroll and thank you for allowing them the choice.

We'll take care of the rest. It's all we do and we do it everyday in organizations EXACTLY like yours.

Please call us for a quotation or for more information on Aflac benefits. Or send us an email at customerservice@moodyinsurance.com.

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Insurance coverage described herein is a summary only and is necessarily brief. It does not include all terms, conditions, and exclusions of the policies described. Please refer to the actual policies for complete details of coverages and exclusions. Coverage may not be available in all jurisdictions. Issuance of coverage is subject to underwriting. Any risks and claims scenarios detailed herein are offered only as examples. Coverage depends on the actual facts of each case and the terms, conditions and exclusions of each individual policy.

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