Fiduciary Liability
Employers offering benefits are considered “fiduciaries,” of employee benefit plans. As these plans and offerings become more complex, employers encounter the complicated management of these plans which can create both business and personal liability.
Fiduciary liability insurance protects your business and personal assets against fiduciary-related claims of mismanagement of a company's employee benefit plans. It covers defense costs and settlements for claims of benefit-plan losses filed by plan participants, the Department of Labor and the Pension Benefit Guarantee Corporation.