Alliance Risk vs Berkshire Hathaway Specialty Insurance: How Do They Compare for Fiduciary Liability Insurance?

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. ⁴Company-reported. Fiduciary liability product page; Alliance Risk does not underwrite the policy itself.

BHSI lists fiduciary liability as a component of its Executive First Private Company Portfolio comprehensive form with D&O, EPL, Commercial Crime and employed-lawyer insurance. ¹⁰Company-reported. This is a marketed portfolio component; the source does not say every line is required or that limits are shared.

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. ⁴Not publicly disclosed. Fiduciary liability product page as read on 2026-09-23.

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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. ⁴Company-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. ⁵Company-reported. Management liability page's program-staging guidance, describing fiduciary liability specifically among the three bundled lines.

The portfolio targets private companies with at least $10 million in revenue and names construction, manufacturing, wholesale, retail, service, technology and transportation sectors. ¹⁰Company-reported. These are portfolio target-account statements, not guaranteed fiduciary eligibility.

BHSI identifies large commercial and financial firms with complex risk-transfer needs as targets for this fiduciary policy. ¹¹Company-reported. A target segment does not guarantee eligibility for an applicant or plan.

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. ⁴Company-reported. Fiduciary liability product page; coverage and exclusions described in general terms, subject to the policy as issued.

BHSI names fiduciary liability as one component of the Executive First Private Company Portfolio. ¹⁰Company-reported. The source does not describe the fiduciary insuring agreement, covered plans or insured parties.

BHSI’s Executive First Fiduciary Liability Policy page lists full settlor coverage, Affordable Care Act gap coverage, and coverage for fines and penalties; it says specialized defense counsel is recommended but not required. ¹¹Company-reported. These are company-described product highlights. Applicable law, policy wording, conditions and exclusions govern a given plan or claim.

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. ⁴Company-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. ⁵Company-reported. Management liability page's discussion of bundled D&O, EPLI and fiduciary programs.

BHSI advertises shared or separate limits up to $50 million for the portfolio. ¹⁰Company-reported. The source does not give a fiduciary-specific limit or explain allocation among components.

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. ⁴Company-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. ⁴Company-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. ⁴Not found in reviewed sources. Fiduciary liability product page as read on 2026-09-23.

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