AIG vs Gallagher: 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.

Gallagher's Executive and Financial Risk practice places fiduciary liability coverage with outside carriers and advises on limits; it does not underwrite the policy. ⁶Company-reported. Group-level executive-and-financial-risk practice page.

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The executive-and-financial-risk page does not name the insurer that would issue a given client's fiduciary liability policy. ⁶Not publicly disclosed. Checked the group-level executive-and-financial-risk practice page.

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.

Gallagher targets this coverage at corporations sponsoring retirement or welfare benefit plans, since the described exposure is tied specifically to ERISA fiduciary duties. ⁶Company-reported. Group-level executive-and-financial-risk practice page.

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.

Gallagher describes fiduciary liability as protecting a corporation's Employee Retirement Income Security Act (ERISA) fiduciaries, fiduciary committees and personnel who design or implement 401(k) or pension plans for employees and retirees. ⁶Company-reported. Group-level executive-and-financial-risk practice page; a service description, not a specific policy's insuring agreement or exclusions.

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.

The page does not publish specific fiduciary liability limits or premium ranges beyond describing its proprietary limit-selection models. ⁶Not publicly disclosed. Checked the group-level executive-and-financial-risk practice page.

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.

Gallagher says it has proprietary models to measure fiduciary risk and assist clients in selecting coverage limits. ⁶Company-reported. Group-level executive-and-financial-risk practice page.