Does D&O Cover Breach of Fiduciary Duty?
D&O may cover a fiduciary-duty claim about corporate management, while benefit-plan duties may require fiduciary liability insurance.
The phrase can refer to different roles. Check whether the allegation concerns company governance or administering an employee benefit plan before relying on D&O.
Corporate fiduciary-duty allegations may fall within D&O’s defined wrongful acts, but duties relating to a retirement or benefit plan raise a different coverage question. DOL explains that ERISA fiduciary status depends on functions such as discretion or control over plan assets, not simply title. A plan fiduciary might have individual D&O protection for one management claim yet face an ERISA exclusion for plan conduct. Side A/B/C do not replace a dedicated fiduciary-liability grant. Identify the plan and capacity involved, read the D&O exclusion and any exception, and confirm which policy covers defense and loss for benefit-plan claims.
Coverage Guides Related to D&O Insurance
Sources for This Answer
- Glossary of Business Insurance Terms. The Hartford; Directors and Officers Liability Insurance; Errors and Omissions Insurance; Employment Practices Liability Insurance; Fiduciary Liability Insurance; General Liability Insurance; Management Liability Insurance; Underwriting. Accessed 2026-09-25.
- Directors and Officers insurance. Insurance Information Institute (Triple-I); What D&O covers; What’s excluded?; The added value of protecting company leaders. Accessed 2026-09-25.
- ERISA Fiduciary Advisor. U.S. Department of Labor, Employee Benefits Security Administration; Who are the plan’s fiduciaries? Accessed 2026-09-25.