Fiduciary Liability
What It Covers?
Fiduciary Liability Insurance protects organizations and plan administrators against claims alleging mismanagement of employee benefit plans. Coverage often includes legal defense, settlements, and regulatory investigations.
Ideal Target
- Companies offering retirement plans
- Employers with 401(k) or pension plans
- HR departments managing benefits
- Plan trustees and administrators
Why It Matters?
Employers sponsoring benefit plans have fiduciary responsibilities under ERISA. Errors in plan administration, investment oversight, or compliance can lead to costly lawsuits and regulatory penalties.
How to Quote in the Platform
- Select Management Liability
- Choose Fiduciary Liability
- Enter benefit plan details
- Complete the underwriting questions
- Compare quotes from available carriers