Fiduciary Liability
Insurance that protects fiduciaries involved in administration or management of employer-sponsored benefit plans.
Under ERISA law, a company representative involved as an administrator or manager of employee benefit plans is held to a strict standard of conduct. Failure to act responsibly and in the best interest of the plan participants can lead to the fiduciary being personally liable for breach of duty. This insurance responds to a number of possible allegations that can be brought against a fiduciary by plan participants or their beneficiaries.
