Fiduciary Liability Insurance

Protects those who manage employee benefit plans from personal liability claims of mismanagement, errors, or breaches of fiduciary duty under ERISA.

review my risk

get started

Protection for Employee Benefit Plan Managers

Fiduciary Duty Protection

Protects individuals serving as fiduciaries of employee benefit plans from personal liability for alleged breaches of their fiduciary duties under ERISA.

Legal Defense Costs

Covers defense costs, settlements, and judgments resulting from claims of mismanagement, errors, or omissions in plan administration.

Personal Asset Protection

Shields personal assets of fiduciaries from being targeted in lawsuits alleging improper management of employee benefit plans.

What Fiduciary Liability Insurance Covers

Breach of Fiduciary Duty

Covers claims alleging failure to act prudently, diversify investments properly, follow plan documents, or act solely in participants’ interests.

ERISA Violations

Protects against allegations of violating Employee Retirement Income Security Act (ERISA) requirements and regulations.

Administrative Errors

Protects against claims arising from mistakes in plan administration, enrollment processing, benefit calculations, or claims handling.

Defense Costs

Covers legal defense expenses regardless of claim validity, including attorney fees, court costs, and settlement negotiations.

Investment Management

Covers claims related to improper selection or monitoring of investment options, excessive fees, or poor investment performance.

Personal Liability

Protects personal assets of fiduciaries from judgments, settlements, and defense costs not covered by the organization.

Who Needs Fiduciary Liability Coverage

Corporate Employers

Companies offering retirement plans (401k, 403b), health plans, pension plans, or other employee benefits to staff.

Professional Service Firms

Law firms, accounting practices, consulting businesses, and other professional services with employee benefits.

Non-Profit Organizations

Charities, associations, and religious organizations with employee benefit plans for their staff members.

Small Businesses

Even small companies with retirement plans can face fiduciary liability claims from employees.

Government Entities

Municipalities, school districts, and public agencies offering retirement or benefit plans to employees.

Plan Committees

Investment committees, administrative committees, and other groups overseeing benefit plan operations.

Common Fiduciary Liability Claims

Excessive Fees

Allegations that plan fees are too high relative to services provided or comparable plans in the marketplace.

Poor Investment Performance

Claims that fiduciaries selected or retained underperforming investment options for the plan.

Administrative Errors

Mistakes in enrollment, benefit calculations, claims processing, or compliance with plan terms.

Conflict of Interest

Allegations that fiduciaries prioritized company interests over participant interests in plan decisions.

Protect Your Fiduciaries Today

Don’t leave those managing your employee benefit plans exposed to personal liability. Get comprehensive fiduciary liability coverage and peace of mind.

review my risk

get started