Alliance Risk vs Cowbell 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. ³Company-reported. Fiduciary liability product page; Alliance Risk does not underwrite the policy itself.

Fiduciary liability is one module within Cowbell's distribution of Zurich's Select Plus management liability product; Cowbell operates the platform, Zurich underwrites the module. Zurich's own page lists 'Fiduciary Liability' as one of the four modules a buyer can combine. ^8,7Company-reported. Management liability page intro and module list; Zurich page module-name section.

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. ³Not publicly disclosed. Fiduciary liability product page as read on 2026-09-23.

Cowbell and Zurich both say the Select Plus modules, including fiduciary liability, are written on Zurich admitted paper. Zurich's site footer names 'Zurich American Insurance Company' in its copyright notice, but neither page states that entity is the specific policy issuer for this module. ^8,7Company-reported. Management liability page intro; Zurich page intro and footer.

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. ³Company-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. ⁴Company-reported. Management liability page's program-staging guidance, describing fiduciary liability specifically among the three bundled lines.

Cowbell targets this fiduciary module at private companies with under 250 employees and under $50M in assets, across the same target industries listed for the broader Select Plus product, such as manufacturing and technology. ⁸Company-reported. FAQ 'What size accounts are targeted?' and Target industries list.

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. ³Company-reported. Fiduciary liability product page; coverage and exclusions described in general terms, subject to the policy as issued.

Cowbell describes fiduciary liability as protecting against claims arising from breaches of fiduciary duties related to employee benefit plans, such as a company's 401(k) or health plan. ⁸Company-reported. FAQ 'What is the difference between management liability and D&O?'.

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. ³Company-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. ⁴Company-reported. Management liability page's discussion of bundled D&O, EPLI and fiduciary programs.

Neither the Cowbell page nor Zurich's own Select Plus page, both read in full, publishes fiduciary-liability limit or retention amounts. ^8,7Not publicly disclosed. Cowbell page and Zurich page, both read on 2026-09-23.

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. ³Company-reported. Fiduciary liability product page, Get Your Fiduciary Liability Risk Review section.

Both Cowbell and Zurich describe the Select Plus product generally as backed by 'the reputable Zurich Claims service'; neither reviewed page describes a fiduciary-specific service such as plan-compliance consulting. ^8,7Not publicly disclosed. Management liability page intro; Zurich page intro, both read on 2026-09-23.

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. ³Company-reported. Fiduciary liability product page, What We Need for Your Quote section; timing is a company estimate, not a guarantee.

This fiduciary module is accessed only by appointed Zurich E&S wholesalers through the Cowbell platform's API; it is not sold directly to businesses. ⁸Company-reported. FAQ 'How can I access the Zurich Select Plus management liability product through Cowbell?'.

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. ³Not found in reviewed sources. Fiduciary liability product page as read on 2026-09-23.

Not described in the reviewed sources.