AIG vs Alliance Risk: How Do They Compare for Fiduciary Liability Insurance?

AIG markets Fiduciary Liability Insurance Edge and related plan-fiduciary options. AIG’s page describes insurance protection but does not identify the issuing subsidiary for a specific account. ³Company-reported. Role in this product is limited to the description on the linked AIG source.

Alliance Risk places fiduciary liability coverage as a broker: it reviews a company's current coverage and markets the risk to carriers that specialize in fiduciary liability. ⁷Company-reported. Fiduciary liability product page; Alliance Risk does not underwrite the policy itself.

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The reviewed fiduciary liability page does not name the insurer that would issue a policy; it says Alliance Risk markets a company's risk to carriers that specialize in fiduciary liability, so the issuing insurer depends on the placement. ⁷Not publicly disclosed. Fiduciary liability product page as read on 2026-09-23.

AIG describes fiduciary coverage for business executives and people or entities overseeing 401(k), pension and employee welfare plans. The page does not establish eligibility for every plan sponsor or plan type. ³Company-reported. Audience is the segment AIG names on the linked source; this is not an underwriting decision, quote or guarantee of availability.

Alliance Risk targets fiduciary liability coverage at any employer sponsoring a 401(k), defined benefit pension or health plan, including multi-employer and union plans, nonprofits, sole proprietors and partnerships with plans, and professional groups managing partner retirement plans; it says even plans fully outsourced to a TPA still need fiduciary coverage because the sponsor retains oversight liability. ⁷Company-reported. Fiduciary liability product page; eligibility for a particular company depends on underwriting.

Alliance Risk says a company should add fiduciary liability coverage when it launches a 401(k) or similar benefit plan, because ERISA fiduciary duty attaches the moment the plan goes live. ⁸Company-reported. Management liability page's program-staging guidance, describing fiduciary liability specifically among the three bundled lines.

AIG says Fiduciary Edge addresses personal liability imposed on directors, officers and employees who oversee benefit plans and the sponsoring company. It describes certain penalty and compliance-program extensions subject to sublimits and policy terms. ³Company-reported. AIG’s public product description is not the policy. Actual entitlement depends on the applicable issued form, endorsements and declarations.

Alliance Risk lists legal defense costs, settlements and judgments, and Department of Labor audits and penalties as typically covered, responding to claims such as excessive-fee litigation and imprudent investment selection; it says criminal and fraudulent acts, bodily injury and property damage, and employee dishonesty (covered instead by an ERISA fidelity bond) are excluded. ⁷Company-reported. Fiduciary liability product page; coverage and exclusions described in general terms, subject to the policy as issued.

The page says some penalties, fees and expenses are subject to sublimits but does not publish a buyer-specific limit schedule. Confirm all sublimits and conditions in the quote and policy. ³Not publicly disclosed. This statement reports only what the linked public source discloses and does not substitute for a quote or issued policy.

Alliance Risk states standard fiduciary liability deductibles it sees range from $5,000 to $50,000, with smaller, lower-risk plans qualifying for lower deductibles and higher deductibles reducing premium at the cost of more out-of-pocket exposure in a claim. ⁷Company-reported. Fiduciary liability product page FAQ; illustrative range, not a quote for any particular plan.

Alliance Risk says entry-level management-liability packages that bundle fiduciary liability with D&O and EPLI often share a single aggregate limit, so a large D&O or EPLI settlement earlier in the policy year can reduce what is left for a fiduciary claim; it says a specialist broker structures shared versus separate limits to manage that risk. ⁸Company-reported. Management liability page's discussion of bundled D&O, EPLI and fiduciary programs.

AIG describes specialized underwriting and claims teams and lists the IRS Audit Protector program, settlor coverage and an ACA extension as product options. Availability and scope of each option must be confirmed in the issued form. ³Company-reported. The linked page describes company-reported support; specific account services and third-party arrangements must be confirmed.

Alliance Risk offers a no-charge review of an existing fiduciary liability policy, identifying gaps and exclusion risks and comparing the program to market options. ⁷Company-reported. Fiduciary liability product page, Get Your Fiduciary Liability Risk Review section.

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For a fiduciary liability quote, Alliance Risk asks for the plan type, number of participants, total assets under management, current coverage and limits, whether an ERISA fidelity bond is in place, and a five-year claims history of DOL audits and participant complaints, and says it typically delivers proposals within a few business days. ⁷Company-reported. Fiduciary liability product page, What We Need for Your Quote section; timing is a company estimate, not a guarantee.

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The reviewed fiduciary liability page does not describe an Alliance Risk claims-handling or claims-advocacy process; it discusses what a fiduciary liability policy covers rather than how Alliance Risk itself supports a claim. ⁷Not found in reviewed sources. Fiduciary liability product page as read on 2026-09-23.