Claims against fiduciaries tripled during the last decade and now surpass the medical profession as litigation targets.
Business Risk Partners’ Fiduciary Liability insurance is specifically designed to protect administrators of employee benefit plans. Unfortunately D&O and EPL policies exclude ERISA violations and therein lay administrators’ most common mistakes. Fiduciary coverage is necessary to fully protect your clients’ company and personal assets from potential lawsuits. We like to think of Fiduciary Liability coverage as E&O for HR departments. Given today’s economic environment, companies have increased exposure to fiduciary claims. Exposure includes retirement plans, health and welfare benefits plans, pension plans – even company profit sharing plans and ESOPs. Our full and comprehensive coverage is easily customized to fit your clients’ particular brand of risk. We also offer Fiduciary Liability as stand-alone coverage or combined with D&O and/or Employment Practice Liability protection.