Alliance Risk vs 
Travelers: How Do They Compare for Fiduciary Liability Insurance?
Alliance Risk places fiduciary liability for employers with retirement or health plans; Travelers underwrites the coverage within Management & Professional Liability and distributes it through independent agents.
Travelers underwrites fiduciary coverage within Management & Professional Liability and sells through independent agents; Alliance Risk shops specialist markets for plan sponsors. 1,3
What Are the Key Differences Between Alliance Risk and Travelers Fiduciary Liability Insurance?
Who Issues the Policy
Alliance Risk markets fiduciary risks to specialist carriers and does not identify the eventual insurer on its reviewed page. Travelers offers fiduciary within Management & Professional Liability, and its product video names Travelers Casualty and Surety Company of America and affiliates; the specific issuer may vary. 1 3
What Each Says the Policy Pays For
Travelers says the coverage protects companies and individuals who manage a company-sponsored retirement or health plan from claims of mismanagement and personal liability for breach of fiduciary duty under ERISA, including litigation costs and errors or omissions in plan administration. Alliance Risk lists legal defense costs, settlements and judgments, and Department of Labor audits and penalties as typically covered, responding to excessive-fee litigation and imprudent investment selection. 3 1
Who It Is For and How You Buy
Travelers markets fiduciary liability to financial institutions, nonprofit organizations, private companies and public companies, bought through a Travelers independent agent. 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 plans fully outsourced to a TPA still need sponsor oversight cover. 3 1
What Should You Confirm in Alliance Risk and Travelers Fiduciary Liability Insurance Quotes?
- Ask which Travelers affiliate issues the policy and whether it is standalone or packaged. 3
- Get Alliance Risk’s carrier and whether the fiduciary aggregate is shared. 1 2
- Compare ERISA personal-liability and plan-administration wording on Travelers with Alliance Risk’s DOL-audit and excessive-fee description on the placed form. 3 1
- Confirm Travelers is purchased through an independent agent. 3
Alliance Risk vs Travelers Fiduciary Liability Insurance Compared
Alliance Risk vs Travelers: Fiduciary Liability Insurance: documented features by provider
| Criteria | Alliance Risk Fiduciary Liability Insurance | Travelers 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. | Travelers markets fiduciary liability coverage to financial institutions, nonprofit organizations, private companies and public companies. 3Company-reported. Product page "Who is fiduciary liability insurance right for?" section. |
| How to Apply | 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. | Fiduciary liability coverage is bought through a Travelers independent agent. 3Company-reported. Product page "Find an insurance agent" call to action. |
| 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. | Travelers says fiduciary liability coverage protects companies and individuals who manage a company-sponsored retirement or health plan from claims of mismanagement and personal liability for breach of fiduciary duty under ERISA, including litigation costs and errors or omissions in plan administration. 3Company-reported. Product page "What Is Fiduciary Liability Insurance?" and "What does fiduciary liability insurance cover?" sections; exact terms and exclusions are set by the issued policy. |
| 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. | Travelers underwrites fiduciary liability insurance as part of its Management & Professional Liability line, sold standalone or alongside other management liability coverages. 3Company-reported. Product page general framing; confirmed against the broader Management and Professional Liability Insurance page. |
