Alliance Risk vs Marsh McLennan Agency: 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.

Marsh McLennan Agency describes arranging fiduciary for the audience stated on the cited product page. ⁸Company-reported. fiduciary marketed by marsh-mclennan-agency; scope is limited to the cited official product overview and described audience. This is not a policy form or a universal eligibility statement.

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.

Organizations seeking executive liability solutions; source does not define plan-specific eligibility. ⁸Company-reported. fiduciary marketed by marsh-mclennan-agency; scope is limited to the cited official product overview and described audience. This is not a policy form or a universal eligibility statement.

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.

The cited product page describes fiduciary liability as a named product in the executive and professional liability suite; the overview does not state plan-specific grants. Marketing description only; actual coverage, exclusions, conditions, limits, and availability depend on the issued policy and jurisdiction. ⁸Company-reported. fiduciary marketed by marsh-mclennan-agency; scope is limited to the cited official product overview and described audience. This is not a policy form or a universal eligibility statement.

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 cited overview does not set a universal limit or retention for this line. Ask for the proposed policy form, limits, retentions, exclusions, and conditions in the quote. ⁸Not publicly disclosed. Only the cited marketing page was reviewed for published limit and retention information; no policy-form entitlement is inferred.

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.

The page invites organizations to contact a Marsh McLennan Agency adviser or specialist to discuss placement. The page does not establish a quote, bind, or coverage-effective timeline. ⁸Company-reported. fiduciary marketed by marsh-mclennan-agency; scope is limited to the cited official product overview and described audience. This is not a policy form or a universal eligibility statement.

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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