Does Fiduciary Liability Cover Benefit Plan Mistakes?
Fiduciary liability may cover negligent benefit-plan administration, but routine corrections or amounts owed by the plan may fall outside coverage.
The policy’s wrongful-act and loss definitions determine whether an error triggers a claim. Check whether correction costs, lost benefits, or defense expenses are treated separately.
Describe the error and requested remedy precisely when reporting a claim; notify the insurer under the actual policy’s rules. For a quote, ask how it treats enrollment mistakes, missed notices, late contributions, incorrect records, denied benefits, correction expenses, and amounts payable to the plan or participant. Compare any administration-liability extension, exclusions, retention, defense arrangements, and notice deadline in the forms attached to your quote.
Which Providers Offer Fiduciary Liability Insurance?
3 documents, numbered as cited. Open the sources