Fiduciary Liability
Berkley Select’s Fiduciary Liability insurance provides industry-leading coverage for benefit plan administrators from allegations of negligence and breaches of duty.
What is Fiduciary Liability Coverage?
Fiduciary Liability insurance helps protect businesses’ and employers’ assets against claims for mismanagement of a company’s employee benefit plan, such as a retirement plan or health plan. A fiduciary is any individual(s) involved in the management of the plans. Fiduciaries are required to make decisions in the best interests of the plan participants and beneficiaries rather than themselves or the company and can be held personally liable for breach of duty under the Employee Retirement Income Security Act of 1974 (ERISA).
Fiduciary Liability Policy Highlights
- Form includes coverage for Compliance Resolution Costs
- Coverage for HIPAA penalties and costs of defense is available
- Costs of Defense coverage for Settlor Acts is available
Why Berkley Select
The challenges and expectations of your clients are evolving every day. That’s why you need a partner who can quickly address complex exposures with creative professional liability solutions. At Berkley Select, you benefit from expert underwriting, efficient claims handling, and innovative technology to better serve your policyholder’s needs.
