Companies and individuals involved with sponsoring, administering or managing pension, savings, profit-sharing, employee benefit and health/welfare plans may be liable to the participants and beneficiaries for any breach of their fiduciary duties. In fact, the designated fiduciaries are not the only target of lawsuits; plan designers, administrators, asset managers, employers and the plan itself can all be liable. Furthermore, fiduciaries can also be held liable for the acts, errors and omissions of third parties who provide administrative and related services.
Our fiduciary liability coverage protects assets and covers the cost to defend against allegations of fiduciary misconduct, improper advice or disclosure, imprudent investments, breach of ERISA-imposed responsibilities, conflict of interest and negligence in the administration of a plan.
- We pride ourselves on offering a market-leading product and providing excellent service coupled with a commercial underwriting approach
- We have the capability to write small entities through to global corporations or partnerships
- We are able to consider non-US domiciled companies including those with exposure to the US
- Company Market: $25M/€20M/£15M or local currency equivalent
- Lloyd’s Syndicate 2232: $25M or local currency equivalent