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Fiduciary liability insurance helps protect against breach of fiduciary duties.

Fiduciary Liability Insurance - Close-up of a Business Meeting with a Financial Adviser and Investor Examining Documentation and Legal Agreements in the Office

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As an ERISA fiduciary, consider fiduciary liability insurance for the unique risks you face.

Specific coverage for a specific financial risk.

Fiduciary liability insurance covers a very specific risk—and a potentially financially devastating one. The risk is breaching fiduciary duties, and it comes from the Employee Retirement Security Act of 1974 (ERISA), which governs many employee benefit schemes.

  What is ERISA?

ERISA, or the Employee Retirement Income Security Act of 1974, was passed to increase the level of liability for fiduciaries in order to help protect those using employee benefits.

  What is a fiduciary?

People within or outside of your business can be a fiduciary as long as they have any control over your employee benefits plan. This may include accountants, administrators, consultants, investment advisors, investment managers, lawyers, among others.

Mitigates risk from breach of fiduciary duties.

Officers of a company who oversee such schemes have fiduciary duties. This means that they are ethically and legally bound to act in the best interests of the employees, and can be sued if they breach this duty (even unintentionally). A breach of this duty could be as simple as making an investment decision for a plan that doesn’t work out well.

Provides coverage for claims relating to ERISA.

When it comes to ERISA claims, a fiduciary could be held financially responsible for making good on any losses from their alleged mistakes or failings, and when you’re talking about a workforce’s retirement benefits, that can make for eye-watering figures. Many general liability insurance policies don’t cover claims relating to ERISA, so a fiduciary liability insurance policy may help to mitigate this risk.

Typically covers the costs of defending claims.

Fiduciary liability insurance policies might typically cover the costs of defending claims and paying out any liability. Additionally, fiduciary liability insurance may also include access to lawyers who specialize in ERISA cases. Depending on your needs, you may want to narrow down your coverage options to provide adequate protection for the risks you face.

We may be able to help you obtain a fiduciary liability insurance policy for your business. Contact us to learn more.


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1010 South Joliet Street
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Aurora, CO 80012

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In short, Umbrella Insurance protects you when the limits of your auto, homeowners, or other personal liability insurance policies are exhausted and you face potential lawsuits and/or millions of dollars of damages. Umbrella Insurance Policies provide coverage for bodily injury and property as well as things your regular policies don’t normally cover.
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