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

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.

HUB targets fiduciary liability brokerage at employers offering health-care or retirement benefit plans who face potential litigation from plan participants, the Department of Labor or the Pension Benefit Guaranty Corporation. ³Company-reported. Product-page target-audience description; not a published underwriting appetite.

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. ¹Company-reported. Fiduciary liability product page, What We Need for Your Quote section; timing is a company estimate, not a guarantee.

HUB directs fiduciary liability prospects to "Connect With a Broker" or "Contact a HUB broker" rather than an online quote or bind flow. ³Company-reported. Product-page calls to action.

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.

HUB lists fiduciary liability claim scenarios it covers as including a plan's insurer, mutual fund or third-party administrator making bad choices, plan administration errors or conflicts of interest, benefits denial, changes or reductions, bad advice or improper counsel, insufficient plan funding, poor investment selection and incorrect plan termination. ³Company-reported. Product-page list of covered claim scenarios; the issued policy's insuring agreement and exclusions control an actual claim.

HUB states that fiduciary liability exposure "is not covered by director's and officers' liability policies," positioning fiduciary liability as a separate line from D&O rather than a bundled coverage. ³Company-reported. Product-page statement distinguishing fiduciary liability from D&O.

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.

HUB brokers fiduciary liability insurance for employers that sponsor health-care and retirement benefit plans, rather than underwriting the coverage itself. ³Company-reported. Fiduciary liability product page, read 2026-09-23. The page does not name an issuing insurer.

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.

HUB publishes a video on preventing fiduciary liability claims and administrative-error best practices on the product page, but the page does not describe a formal fiduciary risk-management or plan-review service. ³Company-reported. Product-page educational video reference.