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 ForceField 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.
Product features
- Limits up to $25M
- Broad definition of claim
- Broad definition of plan
- Voluntary compliance program coverage
- HIPAA claims coverage, including coverage for civil monetary penalties
- No hammer clause
- Subsidiary coverage; no threshold for acquisitions
Labor Management Fiduciary
Our Labor Management Fiduciary team collectively has over 40 years of underwriting experience. It is this experience that allows us to tailor coverage for unions, multi-employer trusts (MET) and public employers’ fiduciary plans. Labor Management Fiduciary is currently written on both an admitted and excess and surplus lines basis.
Product features
- Limits up to $25M
Within Public Company Management Liability we also write:
Excess D&O
Executive ForceField Side A DIC
ForceField – Primary D&O for Public Companies
Financial Institutions
Independent ForceField