The "buzz words" of the year at the International Foundation of Employee Benefit Plans Conference in Vancouver seemed to be the IRS CAP Penalty and IRS Liability Insurance. Because the penalty does not involve any dishonesty, the Funds fidelity insurance will not respond. Also, due to the fact that fines and penalties are excluded from most fiduciary policies, the CAP Penalty Endorsement is a welcome addition in coverage for Trustees. As a leader in the industry, we have already been offering an IRS CAP Penalty Provision Endorsement through a number of our carriers. Coverage is included in the amounts of 35,000 to 100,000 at no additional cost, depending on the insurance carrier and the individual merits of the Fund. In addition to endorsing policies as above, we can offer "Stand Alone" IRS Liability Insurance through both the domestic and foreign markets, including the new Qualified Plan InsuranceSM Coverage from Qualified Plan Services, LLC. Policies are issued on a three (3) year basis with an annual review as a requirement. Policy limits of up to 5,000,000 are available.