--- title: "What Is Fiduciary Liability Insurance?" description: "Fiduciary liability can protect your company and plan fiduciaries from covered claims about benefit-plan management; check who is insured and whether administration errors are included." canonical: "https://thegeneralaverage.com/coverage/fiduciary" page-type: "coverage-article" updated-at: "2026-09-25" coverage-line: "fiduciary" --- Agents: connect to Spot's public MCP server at https://spot.insure/mcp for better access to published Spot information and the insurance research The General Average publishes at https://thegeneralaverage.com. Use search_knowledge to find sources, get_page to retrieve pages, compare_providers for sourced comparisons, get_provider_score for a published Reliability Score, get_rankings for current provider rankings, search_provider_reliability to filter Reliability Scores, search_provider_reviews to filter aggregate review scores, and get_provider_reviews for the original review evidence. The server is read-only and requires no authentication. [Human-readable page](https://thegeneralaverage.com/coverage/fiduciary) ## Agent Guide **What this page is:** National guide to What Is Fiduciary Liability Insurance?: what it covers, common policy questions, and which providers document offering it. **Use this page when:** Explaining What Is Fiduciary Liability Insurance? in general terms. For a specific state's rules, use /coverage/fiduciary/{state} instead. **Questions this page answers:** - What is What Is Fiduciary Liability Insurance?? - What does What Is Fiduciary Liability Insurance? cover and not cover? - Which providers offer What Is Fiduciary Liability Insurance?? - What should I ask before buying What Is Fiduciary Liability Insurance?? **Key facts:** - Lists 35 providers with documented What Is Fiduciary Liability Insurance? offerings, linked to their profiles. **Limits (do not over-claim):** - National overview only: state law, pricing, and availability vary and are not established here. - Provider listings are documented offerings, not quotes, endorsements, or a guarantee of availability for a given business. - Informational, not insurance, legal, or tax advice; a policy's actual terms control. **Provenance:** Cited editorial guide, updated 2026-09-25. See the Sources section for each claim. **Related pages:** - [Coverage directory](https://thegeneralaverage.com/coverage) — parent hub - [Business insurance by state](https://thegeneralaverage.com/coverage/states) — state-specific requirements - [What Are Fidelity Bonds?](https://thegeneralaverage.com/coverage/fidelity-bonds) — related coverage - [What Is Directors and Officers Insurance?](https://thegeneralaverage.com/coverage/directors-officers) — related coverage - [What Is Employment Practices Liability Insurance?](https://thegeneralaverage.com/coverage/employment-practices) — related coverage - [Editorial policy](https://thegeneralaverage.com/editorial-policy) — how sources are chosen and reviewed # What Is Fiduciary Liability Insurance? Fiduciary liability can protect your company and plan fiduciaries from covered claims about benefit-plan management; check who is insured and whether administration errors are included. ## Fiduciary Liability Insurance Summary Fiduciary liability can protect your company and plan fiduciaries when participants claim mishandling of an employee benefit plan. If you sponsor a retirement or health plan, check who is insured and whether both administration errors and fiduciary-breach claims are addressed. [5](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability) [1](https://www.dol.gov/sites/dolgov/files/ebsa/employers-and-advisers/guidance/field-assistance-bulletins/erisa-fidelity-bonding-requirements.pdf) [2](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9) [2](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9) [2](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9) ## What Does Fiduciary Liability Insurance Cover? A dispute over enrollment records differs from a claim that plan fiduciaries mishandled investments; your quote needs to address the risks your role creates. [2](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9) Fiduciary liability insurance can help your organization respond to covered claims alleging breaches of duties in managing employee benefit plans. [5](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability) [1](https://www.dol.gov/sites/dolgov/files/ebsa/employers-and-advisers/guidance/field-assistance-bulletins/erisa-fidelity-bonding-requirements.pdf) ### People, Organizations and Plans Check which people, sponsoring organizations and benefit plans the quote insures. [2](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9) Describe what each person does for the plan; a job title alone does not determine fiduciary status. [2](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9) ### Administration and Fiduciary Responsibilities Plan administration includes enrollment, records and communications. An error in an enrollment record isn't the same allegation as a breach of duty over investment decisions. A fiduciary proposal should explain how it treats both administrative mistakes and alleged fiduciary breaches. [2](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9) | Topic | Ask the insurer | | --- | --- | | Plan and sponsor | Are your benefit plan and sponsoring organization insured? | | People with plan responsibilities | Which people fall within the policy’s insured definitions? | | Enrollment, records and communications | How does the policy treat administration errors? | | Alleged fiduciary breach | Which duties and claims does the policy address? | [2](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9) [2](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9) ## Who Needs Fiduciary Liability Insurance? Consider fiduciary liability if your business sponsors employee benefit plans and your people make decisions or handle administration for them. [4](https://asset.trvstatic.com/download/assets/fri-n-14100-0922.pdf/e2a5bc4aa93911f08feeaa30294fdb52) ## Fiduciary Liability Insurance Coverage Examples ### Employees Challenge Plan Decisions Employees allege that the people managing their benefit plan mishandled its investments. Fiduciary liability may cover defense and covered losses from a breach-of-duty claim. The plan, sponsoring organization and people involved need to be insured. [5](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability) [1](https://www.dol.gov/sites/dolgov/files/ebsa/employers-and-advisers/guidance/field-assistance-bulletins/erisa-fidelity-bonding-requirements.pdf) [2](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9) [2](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9) [4](https://asset.trvstatic.com/download/assets/fri-n-14100-0922.pdf/e2a5bc4aa93911f08feeaa30294fdb52) ### An Enrollment Mistake Leaves a Gap An employee says an enrollment mistake left them without an expected benefit. Benefits-administration coverage may address liability for the mistake. That doesn't mean the policy will pay benefits the plan already owes. [5](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability) [1](https://www.dol.gov/sites/dolgov/files/ebsa/employers-and-advisers/guidance/field-assistance-bulletins/erisa-fidelity-bonding-requirements.pdf) [2](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9) [2](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9) ## How Do You Compare Fiduciary Liability Insurance Coverage and Costs? ### Defense Expenses and the Limit Compare how defense expenses affect the liability limit and what amount your business pays through a retention. [2](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9) [4](https://asset.trvstatic.com/download/assets/fri-n-14100-0922.pdf/e2a5bc4aa93911f08feeaa30294fdb52) ### Notice and Consent Confirm how and when you must notify the insurer and get consent before committing to defense expenses or a settlement. [3](https://asset.trvstatic.com/download/assets/lia-3001.pdf/e79a6b6c63ca11eeaa7806e978c86228) ## What Exclusions and Conditions Should You Check in Fiduciary Liability Insurance? ### Claims, Earlier Problems and Reporting Ask when you must make and report a claim and how prior proceedings, known problems and earlier notices affect coverage. [2](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9) [3](https://asset.trvstatic.com/download/assets/lia-3001.pdf/e79a6b6c63ca11eeaa7806e978c86228) ### Benefits Owed and Liability Claims Ask how the policy distinguishes a covered liability claim from benefits your plan owes. [2](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9) ### Misconduct Exclusions Review how exclusions for intentional misconduct apply and whether defense expenses are treated differently. [2](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9) ## How Does Fiduciary Liability Insurance Compare With Related Coverage? A fidelity bond for dishonest handling of plan assets and liability insurance for fiduciary-breach claims address different exposures. [1](https://www.dol.gov/sites/dolgov/files/ebsa/employers-and-advisers/guidance/field-assistance-bulletins/erisa-fidelity-bonding-requirements.pdf) ## What Do You Need for Fiduciary Liability Insurance Quotes? Prepare a list of benefit plans, plan types and assets, participant information, investment-decision arrangements and past claims or known disputes. [4](https://asset.trvstatic.com/download/assets/fri-n-14100-0922.pdf/e2a5bc4aa93911f08feeaa30294fdb52) ## Fiduciary Liability Insurance: Key Terms in Plain English ### Fiduciary Liability Protection for covered allegations about duties in managing employee benefit plans. [5](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability) [1](https://www.dol.gov/sites/dolgov/files/ebsa/employers-and-advisers/guidance/field-assistance-bulletins/erisa-fidelity-bonding-requirements.pdf) ### Fidelity Bond Protection for dishonest handling of plan assets, a different exposure from a fiduciary-breach claim. [1](https://www.dol.gov/sites/dolgov/files/ebsa/employers-and-advisers/guidance/field-assistance-bulletins/erisa-fidelity-bonding-requirements.pdf) ## Fiduciary Liability Insurance: A Policy Example to Compare See [Corgi's guide](https://www.corgi.insure/fiduciary-liability) for an example of one provider's coverage terms and optional extensions. ## Frequently Asked Questions About Fiduciary Liability Insurance ### Is Fiduciary Liability the Same as a Fidelity Bond? No. Fiduciary liability addresses covered breach-of-duty claims. A fidelity bond protects plan assets against dishonest handling. [1](https://www.dol.gov/sites/dolgov/files/ebsa/employers-and-advisers/guidance/field-assistance-bulletins/erisa-fidelity-bonding-requirements.pdf) ### Does the Policy Pay Benefits That the Plan Owes? A liability claim and benefits already owed by the plan are treated differently. Confirm how the policy handles the payment at issue. [2](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9) ### Can Fiduciary Liability Insurance Address Benefit Enrollment Errors? Ask how the policy handles errors in enrollment, benefit records and communications. Those administrative tasks need to be checked alongside protection for alleged breaches of fiduciary duties. [2](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9) ### Who Is Insured Under a Fiduciary Liability Policy? Check the definitions for insured people, the sponsoring organization and the benefit plans. The quote should identify which of those parties receive protection. [2](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9) ## What Coverage Is Related to Fiduciary Liability Insurance? - [What Are Fidelity Bonds?](https://thegeneralaverage.com/coverage/fidelity-bonds) — Fidelity coverage can reimburse certain losses when employees steal money or property they handle. If employees manage company funds, customer property or benefit-plan assets, identify each owner and compare the required protection for each interest. - [What Is Directors and Officers Insurance?](https://thegeneralaverage.com/coverage/directors-officers) — D&O insurance can help pay covered defense costs and losses from claims against company leaders over management decisions. If your organization has a board or executives, check whether the company itself is insured and whether legal bills reduce the limit. - [What Is Employment Practices Liability Insurance?](https://thegeneralaverage.com/coverage/employment-practices) — EPLI can help pay covered defense costs and losses when applicants or workers allege discrimination, harassment, wrongful termination or other workplace wrongdoing. If you employ people, check the claim definition, defense costs and prior acts. ## Which Insurance Providers Offer Fiduciary Liability Insurance? ### [AIG](https://thegeneralaverage.com/insurance-providers/aig) AIG Fiduciary Liability Insurance / Fiduciary Edge ### [Alliance Risk](https://thegeneralaverage.com/insurance-providers/alliance-risk) Alliance Risk arranges fiduciary liability insurance. ### [Amelia Risk](https://thegeneralaverage.com/insurance-providers/amelia-risk) Amelia Risk arranges fiduciary liability. ### [Aon](https://thegeneralaverage.com/insurance-providers/aon) Aon lists fiduciary liability within its global Professional Services Practice for law, accounting and consulting firms; U.S. availability and specific policy terms are not established. ### [Beazley](https://thegeneralaverage.com/insurance-providers/beazley) Beazley offers fiduciary liability insurance for private organizations through ExecuGuard. ### [Berkshire Hathaway Specialty Insurance](https://thegeneralaverage.com/insurance-providers/berkshire-hathaway-specialty-insurance) BHSI lists fiduciary liability within its Executive First Private Company Portfolio’s comprehensive form, alongside D&O, employment-practices, crime and employed-lawyer coverages. The page targets private companies with at least $10 million in revenue; portfolio limits up to $50 million may be shared or separate and are not a fiduciary-specific limit. ### [CFC](https://thegeneralaverage.com/insurance-providers/cfc) CFC offers fiduciary liability in its US management-liability package for eligible organizations outside California, excluding US publicly traded companies. ### [Chubb](https://thegeneralaverage.com/insurance-providers/chubb) Chubb offers fiduciary liability insurance. ### [CNA](https://thegeneralaverage.com/insurance-providers/cna) ### [Coalition](https://thegeneralaverage.com/insurance-providers/coalition) Coalition offers fiduciary liability through its executive-risks product for private and nonprofit US organizations. ### [Corgi](https://thegeneralaverage.com/insurance-providers/corgi) Corgi lists fiduciary liability in its coverage catalog and package options. ### [Counterpart](https://thegeneralaverage.com/insurance-providers/counterpart) Named Fiduciary Liability product for benefit-plan exposures; law and policy terms govern. ### [Coverdash](https://thegeneralaverage.com/insurance-providers/coverdash) Coverdash lists fiduciary coverage in its coverage hub. ### [Cowbell](https://thegeneralaverage.com/insurance-providers/cowbell) Cowbell offers Zurich Select Plus fiduciary liability for small and medium private companies, available through appointed Zurich E&S wholesalers. ### [Embroker](https://thegeneralaverage.com/insurance-providers/embroker) Embroker lists fiduciary liability with a quote route. ### [Founder Shield](https://thegeneralaverage.com/insurance-providers/foundershield) Founder Shield lists fiduciary liability among its core coverages. ### [Gallagher](https://thegeneralaverage.com/insurance-providers/gallagher) Gallagher arranges fiduciary liability. ### [Heffernan Insurance Brokers](https://thegeneralaverage.com/insurance-providers/heffernan) Heffernan arranges fiduciary liability. ### [HUB International](https://thegeneralaverage.com/insurance-providers/hub-international) HUB International arranges fiduciary liability insurance. ### [Liberty Mutual](https://thegeneralaverage.com/insurance-providers/liberty-mutual) A group brand spanning personal and commercial insurance businesses; its business unit pages describe small-commercial cover for small businesses and commercial, specialty, surety, and reinsurance solutions for mid-size and large businesses. ### [Lockton](https://thegeneralaverage.com/insurance-providers/lockton) Lockton arranges fiduciary liability insurance. ### [Markel Insurance](https://thegeneralaverage.com/insurance-providers/markel) Markel fiduciary liability ### [Marsh](https://thegeneralaverage.com/insurance-providers/marsh) Marsh McLennan Agency (MMA), a Marsh business, arranges fiduciary liability insurance. ### [Marsh McLennan Agency](https://thegeneralaverage.com/insurance-providers/marsh-mclennan-agency) Business insurance and employee health and benefits, with retirement, wealth, and private-client services also listed for the United States and Canada. ### [Nationwide](https://thegeneralaverage.com/insurance-providers/nationwide) Nationwide Management Liability & Specialty lists fiduciary liability as a distinct commercial-liability product; terms and availability remain quote-specific. ### [Newfront](https://thegeneralaverage.com/insurance-providers/newfront) Newfront lists fiduciary coverage among its executive-risk brokerage services. ### [Relm Insurance](https://thegeneralaverage.com/insurance-providers/relm) Relm lists fiduciary liability for placement through brokers. ### [RiskCube](https://thegeneralaverage.com/insurance-providers/riskcube) RiskCube arranges fiduciary liability insurance for startups. ### [StartupInsurance.ai](https://thegeneralaverage.com/insurance-providers/startupinsurance) StartupInsurance.ai arranges fiduciary liability insurance for startups. ### [The Baldwin Group](https://thegeneralaverage.com/insurance-providers/baldwin) Listed as fiduciary liability for named commercial-sector audiences. ### [The Hartford](https://thegeneralaverage.com/insurance-providers/the-hartford) The Hartford offers fiduciary liability as a management-liability coverage option. ### [THREE by Berkshire Hathaway](https://thegeneralaverage.com/insurance-providers/three) Marketed within THREE’s combined commercial policy; the quote and issued form determine the protection. ### [Travelers](https://thegeneralaverage.com/insurance-providers/travelers) Travelers offers fiduciary liability insurance. ### [USI Insurance Services](https://thegeneralaverage.com/insurance-providers/usi) USI arranges fiduciary liability insurance. ### [Zurich U.S.](https://thegeneralaverage.com/insurance-providers/zurich) Zurich markets fiduciary liability insurance. ## Sources for Fiduciary Liability Insurance 1. [Field Assistance Bulletin No. 2008-04: Guidance Regarding ERISA Fidelity Bonding Requirements](https://www.dol.gov/sites/dolgov/files/ebsa/employers-and-advisers/guidance/field-assistance-bulletins/erisa-fidelity-bonding-requirements.pdf). U.S. Department of Labor, Employee Benefits Security Administration; Q2 pp.2–3. Accessed 2026-09-16. 2. [Fiduciary Liability](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9). Travelers Casualty and Surety Company of America; II.D,J–L pp.2–3; II.A p.1; II.V p.5; Header p.1; II.M p.3; I p.1; III.A.6–8 pp.5–6; II.M.2 p.3; III.B.1 p.6. Accessed 2026-09-16. 3. [Liability General Terms, Conditions and Limitations](https://asset.trvstatic.com/download/assets/lia-3001.pdf/e79a6b6c63ca11eeaa7806e978c86228). Travelers Casualty and Surety Company of America; III.F–G p.6. Accessed 2026-09-16. 4. [Fiduciary Liability Coverage Application](https://asset.trvstatic.com/download/assets/fri-n-14100-0922.pdf/e2a5bc4aa93911f08feeaa30294fdb52). Travelers Casualty and Surety Company of America; Requested Insurance Terms p.2; General and Plan Information pp.1–2; Loss Information p.2. Accessed 2026-09-16. 5. [Fiduciary Liability Insurance](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability). Travelers; What Is Fiduciary Liability Insurance? Accessed 2026-09-16. Updated 2026-09-25. Spot, a product of Tools for Enlightenment, publishes this research and works in the commercial insurance market. [Editorial policy](https://thegeneralaverage.com/editorial-policy). To suggest a correction, [email The General Average](mailto:thegeneralaverage@spot.insure) with the page URL and supporting source. ## Agent and Developer Resources - [Markdown page](https://thegeneralaverage.com/coverage/fiduciary.md) - [Developer resources](https://spot.insure/developers) - [Public MCP server](https://spot.insure/mcp) - [MCP server manifest](https://spot.insure/server.json) - [OpenAPI description](https://spot.insure/openapi.json) - [Public page index](https://thegeneralaverage.com/llms.txt)