Alliance Risk vs Counterpart: 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.

Counterpart describes a producer and surplus-lines broker distributing insurance through wholesale brokers. ^6,9Company-reported. This describes Counterpart’s channel and does not identify the issuing insurer for a fiduciary placement.

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.

Counterpart describes employer and benefit-plan contexts on its dedicated Fiduciary Liability page. ⁸Company-reported. This is product marketing, not proof a given plan, sponsor or fiduciary is eligible.

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.

Counterpart’s fiduciary page addresses benefit-plan administration and ERISA-related exposures. ⁸Company-reported. The retained product description does not establish the full insured-party definition, ERISA terms or exclusions.

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.

The page includes illustrative limit examples for fiduciary coverage. ⁸Company-reported. Figures are examples and are not a quote or guaranteed available limit.

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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