Beazley vs Chubb Fiduciary Liability Insurance

Beazley underwrites fiduciary liability coverage for the individuals who administer employer benefit plans, sold standalone on its dedicated Fiduciary page and as one of three coverages bundled in its ExecuGuard package policy alongside D&O and employment practices liability. ^5,3Company-reported. US fiduciary liability as described on the two reviewed product pages; does not establish which entity issues a particular policy.

Chubb underwrites Fiduciary Liability insurance directly through ForeFront Portfolio 3.0, designed to protect a privately owned company, its fiduciaries and its benefit plans against personal liability for errors, omissions or breaches of fiduciary duty related to benefit plans. ⁹Company-reported. ForeFront Portfolio 3.0 Fiduciary Liability product page.

The Fiduciary product page does not name the specific Beazley insurance entity that issues the policy. ⁵Not found in reviewed sources. Fiduciary page as read on 2026-09-23; the issued policy's declarations control the actual insurer.

Not described in the reviewed sources.

Not described in the reviewed sources.

Chubb says private-company underwriters located across the U.S. handle this product and are experienced in a broad spectrum of industries. ⁹Company-reported. Coverage Highlights, Benefits section.

Beazley explains that fiduciary liability protects the individuals responsible for running employee benefit plans, such as health plans, pension plans and 401(k) accounts, from personal liability if a claim is made against the plan, a personal exposure the page says many plan sponsors don't realize they have. ⁵Company-reported. Fiduciary product page description; exclusions and conditions are set by the issued policy.

The policy includes statutory-claim sublimits of US $250,000 for claims under the Pension Protection Act of 2006, ERISA Section 502(c), Internal Revenue Code Section 4975 and the PPACA, plus a separate US $1,000,000 sublimit for HIPAA claims and up to US $1,000,000 in coverage for HIPAA civil fines. ⁵Company-reported. Fiduciary product page sublimit list; these sublimits sit inside, and are lower than, the overall policy limit.

Beazley includes "omnibus" pension and welfare plan language (intended to automatically cover newly created or acquired benefit plans), a US $25,000 sublimit for IRS and DOL voluntary compliance programs other than HIPAA, and settlor-capacity protection now written into the fiduciary insuring clauses. ⁵Company-reported. Fiduciary product page feature list; actual plan-coverage scope depends on the issued policy wording.

Chubb lists coverage responding to allegations including wrongful denial or improper change in benefits, error or omission in plan administration, improper advice or counsel, prohibited transactions, failure to administer a plan according to its documents, conflict of interest, and imprudent investment or selection/monitoring of third-party service providers. ⁹Company-reported. Coverage Highlights, Coverage Responds to allegations list; subject to the policy as issued.

Chubb says the policy insures the company, the company's executives and employees, and the company's employee benefits plan itself. ⁹Company-reported. Coverage Highlights list.

Beazley advertises fiduciary limits up to US $20 million, with an optional additional defense limit available; the statutory sublimits described above apply within that overall limit. ⁵Company-reported. Advertised maximum capacity, not a guaranteed quote amount.

The reviewed page does not publish specific policy limits or retentions for Fiduciary Liability coverage. ⁹Not found in reviewed sources. ForeFront Portfolio 3.0 Fiduciary Liability page as read on 2026-09-23.

Fiduciary policyholders get free access to BeazleySure, Beazley's online risk-management platform, which the Fiduciary page describes as providing loss-prevention content on employee-benefits topics. ⁵Company-reported. Fiduciary product page service description; actual entitlements depend on the policy purchased.

Chubb says Fiduciary Liability policyholders have access to loss-prevention resources, and separately publishes Fiduciary Liability Insurance Loss Control Services materials within the ForeFront Portfolio. ^9,10Company-reported. Coverage Highlights Benefits section; ForeFront Portfolio hub page lists a separate Loss Control Services resource.

The Fiduciary page lists a downloadable ExecuGuard application as its Tools & Resources item, rather than a fiduciary-only application, indicating fiduciary coverage is typically quoted together with the combined ExecuGuard package. ⁵Company-reported. Fiduciary product page Tools & Resources section as read on 2026-09-23.

Fiduciary Liability coverage is placed as part of the ForeFront Portfolio, which agents and brokers can quote and issue through Chubb Marketplace. ¹⁰Company-reported. ForeFront Portfolio hub page quoting section.

Beazley says fiduciary policyholders get pre-approved choice-of-counsel flexibility, but the reviewed page does not otherwise describe fiduciary-specific claims handling beyond that; general policy notice and claims-contact guidance is provided on Beazley's separate claims-notification page. ⁵Company-reported. Fiduciary product page as read on 2026-09-23; claims-handling quality is not independently assessed.

Not described in the reviewed sources.