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Fiduciary liability

Protection for benefit plans 

Professionals who manage employee benefit plans carry enormous responsibilities, both legal and ethicalThe organizations that provide pensions and similar plans hold not just employee funds, but their trust. If something goes wrongfiduciary liability insurance provides an important layer of protection.  

Our employee benefit plan fiduciary liability insurance solution from Ironshore helps protect directors, officers, and other fiduciaries as well as employee benefit plans against risks related to the Employee Retirement Income Security Act (ERISA). 

A protective partnership  

Solutions for complex risks  

Fiduciaries are obligated to put the interests of their plan beneficiaries ahead of their own. So, who’s looking out for the fiduciaries and the plans they administer? We are, with solutions that help safeguard the people who manage employee retirement plans – and the plans themselves. 

Whether they’re public or private companies, our customers appreciate our tailored solutions 

Key coverage highlights include:  

  • Capacity up to $25M on primary and excess basis 
  • Coverage for the sponsor organization, its subsidiaries, employees, fiduciaries, and its covered plans  
  • Coverage for various acts in the administration of covered plans  
  • Protection for the sponsor organization’s pension and welfare benefit plans  
  • Punitive damages coverage 

We also offer endorsements for added protection, including: 

  • Health Insurance Portability and Accountability Act (HIPAA) coverage 
  • Investment loss coverage 
  • Voluntary compliance loss coverage 

Expertise that delivers 

It takes more than teamwork to provide top-tier coverage and services; it takes specialized expertise – something we’re proud to bring to every customer relationship.  

Our dedicated underwriters and claims professionals team up to stay on top of current fiduciary liability loss trends and risk scenarios, including: 

  • Poor investment choices 
  • Mismanagement or failure to act 
  • Conflicts of interest 
  • Administrative errors that result in a loss of benefits 
  • Failure to comply with ERISA 

Backed by ourfinancial strength, stability, and experience asa Fortune 100 carrier, these tailored solutions suit a range of industries, risk profiles, and challenges

Better control over claims 

Our approach to claims management starts long before a claim is filed. With ongoing training, highly experienced senior claims leaders, and a culture that promotes proactive decision making, our claims professionals are empowered to deliver better outcomes 

And because our claims professionals work closely with the underwriters who develop our solutions, they’re equipped to resolve claims quickly, always working tolimit litigation and control costs.  

With our fiduciary liability solutions, customers can benefit from:  

  • Dedicated claims teams with in-depth experience investigating, evaluating, and resolving fiduciary liability claims   
  • The flexibility to retain their own legal counsel or select from our roster of approved attorneys   
  • The ability to settle claims within the retention period 

Get in touch

Our commercial and specialty insurance products and services are distributed through brokers and agents. If you are interested in our solutions for your business, please contact your agent or broker. If you are an agent or broker, please reach out to our team for more information.

Michael Englert

SVP, Management Liability, Ironshore

Ben Jones

Underwriting Manager

Related insights

This website is intended to be informational. Descriptions are provided only as a summary outline of the products and services available and are not intended to be comprehensive and do not constitute an offer to sell or a solicitation. The products and services described may not be available in all states or jurisdictions. See your policy, service contract, or program documentation for actual terms, conditions, and exclusions. Any inquiries regarding the subject matter set forth herein should be directed through licensed insurance professionals.

Coverage and insurance are provided and underwritten by Liberty Mutual Insurance Company or its affiliates or subsidiaries. When we offer insurance products, we will state clearly which insurer will underwrite the policy. Some policies may be placed with a surplus lines insurer. Surplus lines insurers generally do not participate in state guaranty funds and coverage may only be obtained through duly licensed surplus lines brokers.