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

Alliance Risk places fiduciary coverage for employers with retirement or health plans; Gallagher brokers fiduciary liability for corporations sponsoring retirement or welfare plans and describes protection for ERISA fiduciaries.

Gallagher advises on fiduciary limits with proprietary models for ERISA fiduciaries and committees; Alliance Risk provides a no-charge policy review and reports $5,000–$50,000 deductibles. ^1,³

What Are the Key Differences Between Alliance Risk and Gallagher Fiduciary Liability Insurance?

Placement Practices

Both firms place fiduciary coverage with outside insurers, and neither reviewed page identifies the policy issuer. Alliance Risk markets to specialist carriers; Gallagher’s Executive and Financial Risk practice also advises clients on suitable limits. ¹ ³

Who the Coverage Is Said to Protect

Gallagher describes fiduciary liability as protecting a corporation’s ERISA fiduciaries, fiduciary committees and personnel who design or implement 401(k) or pension plans for employees and retirees. Alliance Risk targets any employer sponsoring a 401(k), defined benefit pension or health plan, including multi-employer and union plans, nonprofits, sole proprietors and partnerships, and says even a fully outsourced TPA arrangement leaves sponsor oversight liability. ³ ¹

Limit Advice and Reviews

Gallagher says it has proprietary models to measure fiduciary risk and help clients select coverage limits; the page does not publish specific limit or premium figures. Alliance Risk states deductibles it sees from $5,000 to $50,000 and warns that bundled D&O, EPLI and fiduciary packages often share one aggregate. Alliance Risk offers a no-charge review of an existing fiduciary policy and a structured quote intake. Gallagher’s reviewed page does not describe that intake list. Alliance Risk lists DOL audits and penalties among typical cover; Gallagher’s description is about who is protected rather than a claim-type catalogue. ³ ¹ ²

What Should You Confirm in Alliance Risk and Gallagher Fiduciary Liability Insurance Quotes?

Get the issuing carrier from both brokers. ¹ ³
Ask Gallagher what its proprietary models recommend for your plan assets and how that maps to quoted limits. ³
Ask Alliance Risk whether the fiduciary limit is shared with D&O or EPLI. ²
Compare how each placed form treats DOL investigations and excessive-fee suits. ¹ ³

Alliance Risk vs Gallagher Fiduciary Liability Insurance Compared

Alliance Risk vs Gallagher: Fiduciary Liability Insurance: documented features by provider

Criteria	Alliance Risk Fiduciary Liability Insurance	Gallagher Fiduciary Liability Insurance
Who It’s For	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. ¹Company-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. ²Company-reported. Management liability page's program-staging guidance, describing fiduciary liability specifically among the three bundled lines.	Gallagher targets this coverage at corporations sponsoring retirement or welfare benefit plans, since the described exposure is tied specifically to ERISA fiduciary duties. ³Company-reported. Group-level executive-and-financial-risk practice page.
Coverage Features	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. ¹Company-reported. Fiduciary liability product page; coverage and exclusions described in general terms, subject to the policy as issued.	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. ³Company-reported. Group-level executive-and-financial-risk practice page; a service description, not a specific policy's insuring agreement or exclusions.
Role in This Line	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. ¹Company-reported. Fiduciary liability product page; Alliance Risk does not underwrite the policy itself.	Gallagher's Executive and Financial Risk practice places fiduciary liability coverage with outside carriers and advises on limits; it does not underwrite the policy. ³Company-reported. Group-level executive-and-financial-risk practice page.
Risk Services	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. ¹Company-reported. Fiduciary liability product page, Get Your Fiduciary Liability Risk Review section.	Gallagher says it has proprietary models to measure fiduciary risk and assist clients in selecting coverage limits. ³Company-reported. Group-level executive-and-financial-risk practice page.