---
title: "Beazley vs Founder Shield Fiduciary Liability Insurance"
description: "Beazley underwrites HIPAA sublimits and BeazleySure; Founder Shield places fiduciary with AM Best A- or better carriers and does not underwrite."
canonical: "https://spot.insure/compare/beazley-vs-foundershield/fiduciary"
page-type: "line-comparison"
updated-at: "2026-09-23"
---

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# Beazley vs Founder Shield Fiduciary Liability Insurance

Beazley underwrites HIPAA sublimits and BeazleySure; Founder Shield places fiduciary with AM Best A- or better carriers and does not underwrite.

## Research Scope and Use

Use this comparison to evaluate Beazley and Founder Shield for Fiduciary Liability Insurance against the same documented criteria. It identifies differences and questions to confirm; it does not select a winner for a particular business. Offering claims are what each provider publishes about this line unless marked otherwise. “Not found” describes the evidence reviewed, not proof that a feature is unavailable. Confirm the insurer, policy wording, limits, retentions, exclusions and cost in an actual quote.

## Summary

Beazley underwrites fiduciary liability with limits up to $20 million and listed statutory sublimits. Founder Shield, the innovation arm of The Baldwin Group, places fiduciary with third-party carriers rated A- or better by AM Best and does not name the issuer. [5](https://www.beazley.com/en-us/products/executive-risk-usa/fiduciary/ "Fiduciary") [3](https://www.beazley.com/en-us/products/executive-risk-usa/execuguard-combined-epl-do-and-fiduciary "Execuguard (Combined EPL, D&O, and Fiduciary)") [12](https://foundershield.com/about-us/ "About Us") [8](https://foundershield.com/insurance-faqs/general-faqs/how-do-you-decide-which-carriers-to-approach/ "How Do You Decide Which Carriers to Approach?")

## What Is Beazley?

Beazley is a specialty insurance group whose MediaTech product combines technology and professional E&O, media and cyber coverage. Separate offerings address executive liability, digital health and other specialty risks. [1](https://www.beazley.com/en-US/products/small-business-solutions-usa/mediatech-for-small-businesses/ "MediaTech for Small Businesses") [2](https://www.beazley.com/en-us/legal-information-en/ "Legal Information") [3](https://www.beazley.com/en-us/products/executive-risk-usa/execuguard-combined-epl-do-and-fiduciary "Execuguard (Combined EPL, D&O, and Fiduciary)") [4](https://www.beazley.com/en-us/products/healthcare-usa/virtual-care "Virtual Care")

[Beazley profile](https://spot.insure/insurance-providers/beazley)

## What Is Founder Shield Insurance?

Founder Shield is a commercial insurance broker for venture-backed and growing businesses. Buyers can request coverage through its online portal and work with advisors on insurer selection, policy changes and claims reporting. [6](https://foundershield.com/ "Founder Shield") [7](https://apx.foundershield.com/ "Quote Portal") [8](https://foundershield.com/insurance-faqs/general-faqs/how-do-you-decide-which-carriers-to-approach/ "How Do You Decide Which Carriers to Approach?") [9](https://foundershield.com/insurance-faqs/general-faqs/what-if-our-company-grows-a-lot-or-things-change-during-the-year/ "What If Our Company Grows A Lot or Things Change During the Year?") [10](https://foundershield.com/claims/ "Claims")

[Founder Shield profile](https://spot.insure/insurance-providers/foundershield)

## What Is Fiduciary Liability Insurance?

Fiduciary liability insurance addresses covered claims alleging breaches of duties in managing employee benefit plans. [13](https://www.dol.gov/sites/dolgov/files/ebsa/employers-and-advisers/guidance/field-assistance-bulletins/erisa-fidelity-bonding-requirements.pdf "Field Assistance Bulletin No. 2008-04: Guidance Regarding ERISA Fidelity Bonding Requirements") [14](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance")

## Key Differences in Fiduciary Liability Insurance

### Carrier Versus Baldwin Group Brokerage

Beazley underwrites fiduciary liability standalone and in ExecuGuard. Founder Shield is a retail brokerage that places Founder Shield Fiduciary Liability Insurance with third-party carriers rather than underwriting. Founder Shield says it uses only carriers rated A- or better by AM Best, chosen for industry appetite, without naming the fiduciary issuer. Beazley’s Fiduciary page does not name the Beazley issuing entity either. [5](https://www.beazley.com/en-us/products/executive-risk-usa/fiduciary/ "Fiduciary") [12](https://foundershield.com/about-us/ "About Us") [8](https://foundershield.com/insurance-faqs/general-faqs/how-do-you-decide-which-carriers-to-approach/ "How Do You Decide Which Carriers to Approach?")

### Policy Features Versus Scenario List

Beazley lists PPA, ERISA, IRC, PPACA and HIPAA sublimits, omnibus plan language, settlor-capacity protection, BeazleySure and choice of counsel. Founder Shield lists risky plan investments, poor investment advice, administrative errors and improper denial or change of benefits, and distinguishes fiduciary from D&O and general liability. Founder Shield’s reviewed pages do not publish those statutory sublimits. [5](https://www.beazley.com/en-us/products/executive-risk-usa/fiduciary/ "Fiduciary") [11](https://foundershield.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance")

### Limits and How You Apply

Beazley advertises limits up to US $20 million. Founder Shield’s product and FAQ pages do not publish fiduciary limits or retentions. You request Founder Shield coverage through its website or an advisor; the placement team approaches carriers. Beazley lists an ExecuGuard application. Founder Shield markets to plan sponsors offering a 401(k) or similar plan and to individual fiduciaries who handle plan funds or property. [5](https://www.beazley.com/en-us/products/executive-risk-usa/fiduciary/ "Fiduciary") [11](https://foundershield.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance") [12](https://foundershield.com/about-us/ "About Us") [8](https://foundershield.com/insurance-faqs/general-faqs/how-do-you-decide-which-carriers-to-approach/ "How Do You Decide Which Carriers to Approach?")

## What to Confirm in Fiduciary Liability Insurance Quotes

- Ask Founder Shield which A- or better carrier is on the quote. [8](https://foundershield.com/insurance-faqs/general-faqs/how-do-you-decide-which-carriers-to-approach/ "How Do You Decide Which Carriers to Approach?")
- Ask Beazley which entity issues and whether ExecuGuard limits are shared. [5](https://www.beazley.com/en-us/products/executive-risk-usa/fiduciary/ "Fiduciary") [3](https://www.beazley.com/en-us/products/executive-risk-usa/execuguard-combined-epl-do-and-fiduciary "Execuguard (Combined EPL, D&O, and Fiduciary)")
- Compare HIPAA and settlor terms on the Founder Shield-placed form against Beazley’s published sublimits. [5](https://www.beazley.com/en-us/products/executive-risk-usa/fiduciary/ "Fiduciary") [11](https://foundershield.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance")
- Get dollar limits from Founder Shield; they are not on the reviewed pages. [11](https://foundershield.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance")

## Offering Details

| Criteria | Beazley Fiduciary Liability | Founder Shield Fiduciary Liability Insurance |
| --- | --- | --- |
| Role in This Line | 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](https://www.beazley.com/en-us/products/executive-risk-usa/fiduciary/ "Fiduciary") [3](https://www.beazley.com/en-us/products/executive-risk-usa/execuguard-combined-epl-do-and-fiduciary "Execuguard (Combined EPL, D&O, and Fiduciary)") (Evidence: Company-reported; scope: US fiduciary liability as described on the two reviewed product pages; does not establish which entity issues a particular policy..) | Founder Shield is a retail insurance brokerage, described on its site as “the innovation arm of The Baldwin Group,” and places Founder Shield Fiduciary Liability Insurance with third-party carriers rather than underwriting the policy itself. [12](https://foundershield.com/about-us/ "About Us") (Evidence: Company-reported; scope: About-us page; applies to Founder Shield's brokerage model generally, restated here for this line..) |
| Issuing Insurer | The Fiduciary product page does not name the specific Beazley insurance entity that issues the policy. [5](https://www.beazley.com/en-us/products/executive-risk-usa/fiduciary/ "Fiduciary") (Evidence: Not found in reviewed sources; scope: Fiduciary page as read on 2026-09-23; the issued policy's declarations control the actual insurer..) | Founder Shield says it places policies, including Founder Shield Fiduciary Liability Insurance, only with carriers rated A- or better by AM Best, chosen for the client's industry. It does not name the issuing insurer for this line; that depends on which carrier the policy is placed with. [8](https://foundershield.com/insurance-faqs/general-faqs/how-do-you-decide-which-carriers-to-approach/ "How Do You Decide Which Carriers to Approach?") (Evidence: Company-reported; scope: General carrier-selection FAQ, not specific to this line's placements..) |
| Who It’s For | Not described in the reviewed sources. | Founder Shield markets fiduciary liability to plan sponsors offering a 401(k) or similar plan and to the individual fiduciaries who handle plan funds or property. [11](https://foundershield.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: Fiduciary Liability product page..) |
| Coverage Features | 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. [5](https://www.beazley.com/en-us/products/executive-risk-usa/fiduciary/ "Fiduciary") (Evidence: Company-reported; scope: Fiduciary product page description; exclusions and conditions are set by the issued policy..)<br><br>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. [5](https://www.beazley.com/en-us/products/executive-risk-usa/fiduciary/ "Fiduciary") (Evidence: Company-reported; scope: Fiduciary product page sublimit list; these sublimits sit inside, and are lower than, the overall policy limit..)<br><br>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. [5](https://www.beazley.com/en-us/products/executive-risk-usa/fiduciary/ "Fiduciary") (Evidence: Company-reported; scope: Fiduciary product page feature list; actual plan-coverage scope depends on the issued policy wording..) | Founder Shield lists claims of risky plan investments, poor investment advice, administrative errors in benefits processing, and improper denial or change of benefits as scenarios fiduciary liability responds to. [11](https://foundershield.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: Product page; the issued policy and declarations control actual coverage..)<br><br>Founder Shield distinguishes fiduciary liability from D&O and general liability: it responds to breach-of-fiduciary-duty claims tied to ERISA plan administration, not general management or bodily-injury claims. [11](https://foundershield.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: Fiduciary Liability product page..) |
| Limits and Retentions | 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. [5](https://www.beazley.com/en-us/products/executive-risk-usa/fiduciary/ "Fiduciary") (Evidence: Company-reported; scope: Advertised maximum capacity, not a guaranteed quote amount..) | Not described in the reviewed sources. |
| Risk Services | 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. [5](https://www.beazley.com/en-us/products/executive-risk-usa/fiduciary/ "Fiduciary") (Evidence: Company-reported; scope: Fiduciary product page service description; actual entitlements depend on the policy purchased..) | Not described in the reviewed sources. |
| How to Apply | 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. [5](https://www.beazley.com/en-us/products/executive-risk-usa/fiduciary/ "Fiduciary") (Evidence: Company-reported; scope: Fiduciary product page Tools & Resources section as read on 2026-09-23..) | You request Founder Shield Fiduciary Liability Insurance through Founder Shield's website or an insurance advisor rather than binding coverage directly; Founder Shield says its placement team then approaches carriers on the client's behalf. [12](https://foundershield.com/about-us/ "About Us") [8](https://foundershield.com/insurance-faqs/general-faqs/how-do-you-decide-which-carriers-to-approach/ "How Do You Decide Which Carriers to Approach?") (Evidence: Company-reported; scope: About-us and carrier-selection pages describe the general placement process, not a line-specific application form..) |
| Claims Support | 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. [5](https://www.beazley.com/en-us/products/executive-risk-usa/fiduciary/ "Fiduciary") (Evidence: Company-reported; scope: Fiduciary product page as read on 2026-09-23; claims-handling quality is not independently assessed..) | Not described in the reviewed sources. |

## Full Comparison

- [Beazley vs Founder Shield](https://spot.insure/compare/beazley-vs-foundershield): all coverage lines, business roles, service and claims.
- [What Is Fiduciary Liability Insurance?](https://spot.insure/coverage/fiduciary): Fiduciary liability insurance can help with covered claims alleging that your business or its people breached duties in managing an employee benefit plan.
- [Beazley vs Founder Shield Commercial Property Insurance](https://spot.insure/compare/beazley-vs-foundershield/commercial-property)
- [Beazley vs Founder Shield Crime Insurance](https://spot.insure/compare/beazley-vs-foundershield/crime)
- [Beazley vs Founder Shield Cyber Insurance](https://spot.insure/compare/beazley-vs-foundershield/cyber)
- [Beazley vs Founder Shield D&O Insurance](https://spot.insure/compare/beazley-vs-foundershield/directors-officers)
- [Beazley vs Founder Shield Employment Practices Liability Insurance](https://spot.insure/compare/beazley-vs-foundershield/employment-practices)
- [Beazley vs Founder Shield Fidelity Bonds](https://spot.insure/compare/beazley-vs-foundershield/fidelity-bonds)
- [Beazley vs Founder Shield General Liability Insurance](https://spot.insure/compare/beazley-vs-foundershield/general-liability)
- [Beazley vs Founder Shield Hired and Non-Owned Auto Insurance](https://spot.insure/compare/beazley-vs-foundershield/hired-non-owned-auto)
- [Beazley vs Founder Shield Media Liability Insurance](https://spot.insure/compare/beazley-vs-foundershield/media)
- [Beazley vs Founder Shield Product Liability Insurance](https://spot.insure/compare/beazley-vs-foundershield/product-liability)
- [Beazley vs Founder Shield Professional Liability (E&O) Insurance](https://spot.insure/compare/beazley-vs-foundershield/professional-errors-omissions)
- [Beazley vs Founder Shield Representations and Warranties Insurance](https://spot.insure/compare/beazley-vs-foundershield/representations-warranties)
- [Beazley vs Founder Shield Telehealth Insurance](https://spot.insure/compare/beazley-vs-foundershield/virtual-care-telehealth)
- [Alliance Risk vs Beazley Fiduciary Liability Insurance](https://spot.insure/compare/alliance-risk-vs-beazley/fiduciary)
- [Alliance Risk vs Founder Shield Fiduciary Liability Insurance](https://spot.insure/compare/alliance-risk-vs-foundershield/fiduciary)
- [Beazley vs Chubb Fiduciary Liability Insurance](https://spot.insure/compare/beazley-vs-chubb/fiduciary)
- [Beazley vs Coalition Fiduciary Liability Insurance](https://spot.insure/compare/beazley-vs-coalition/fiduciary)
- [Beazley vs Corgi Fiduciary Liability Insurance](https://spot.insure/compare/beazley-vs-corgi/fiduciary)
- [Beazley vs Coverdash Fiduciary Liability Insurance](https://spot.insure/compare/beazley-vs-coverdash/fiduciary)

## Sources

### Beazley

1. [MediaTech for Small Businesses](https://www.beazley.com/en-US/products/small-business-solutions-usa/mediatech-for-small-businesses/). Beazley; Opening product description; What we offer: E&O (Tech and Professional), Media, Cyber coverage includes; How can we help; SME placement paragraph; Tools & Resources. Accessed 2026-09-16.
2. [Legal Information](https://www.beazley.com/en-us/legal-information-en/). Beazley; Website conditions: US jurisdiction availability, surplus lines and policy wording disclaimers; Beazley plc identity. Accessed 2026-09-16.
3. [Execuguard (Combined EPL, D&O, and Fiduciary)](https://www.beazley.com/en-us/products/executive-risk-usa/execuguard-combined-epl-do-and-fiduciary). Beazley; What we offer: separate or shared limits among EPL, D&O and fiduciary; Limits up to US $20,000,000, both admitted and non-admitted available. Accessed 2026-09-23.
4. [Virtual Care](https://www.beazley.com/en-us/products/healthcare-usa/virtual-care). Beazley; Available Coverages; Who we can help; Where is this offered. Accessed 2026-09-16.
5. [Fiduciary](https://www.beazley.com/en-us/products/executive-risk-usa/fiduciary/). Beazley; What we offer: personal liability for individuals running benefit plans; Up to US $20,000,000; How can we help: PPA/ERISA/IRC/PPACA and HIPAA sublimits, omnibus plan language, voluntary-compliance sublimit, settlor-capacity protection, BeazleySure; Tools & Resources: Execuguard application. Accessed 2026-09-23.

### Founder Shield

6. [Founder Shield](https://foundershield.com/). Founder Shield; Opening broker description; Specialized Practices; Smart Tech, Smarter People; quote and sign-in links. Accessed 2026-09-15.
7. [Quote Portal](https://apx.foundershield.com/). Founder Shield; Public landing screen, Create Account and Sign In links. Accessed 2026-09-15.
8. [How Do You Decide Which Carriers to Approach?](https://foundershield.com/insurance-faqs/general-faqs/how-do-you-decide-which-carriers-to-approach/). Founder Shield; FAQ answer on carrier selection: works exclusively with A-rated (AM Best) carriers, matched by industry appetite. Accessed 2026-09-23.
9. [What If Our Company Grows A Lot or Things Change During the Year?](https://foundershield.com/insurance-faqs/general-faqs/what-if-our-company-grows-a-lot-or-things-change-during-the-year/). Founder Shield; Carl Niedbala answer, November 25, 2024: operational changes and coverage adjustments. Accessed 2026-09-15.
10. [Claims](https://foundershield.com/claims/). Founder Shield; Our Approach; How We Support Claims Management, steps 1–5; Make a claim link. Accessed 2026-09-15.
11. [Fiduciary Liability Insurance](https://foundershield.com/coverage/fiduciary-liability-insurance/). Founder Shield; What Is Fiduciary Liability Insurance?; Who Needs Fiduciary Liability Insurance Coverage?; What Does Fiduciary Liability Insurance Cover?. Accessed 2026-09-23.
12. [About Us](https://foundershield.com/about-us/). Founder Shield; “Founder Shield is the innovation arm of The Baldwin Group”; company history and mission. Accessed 2026-09-23.

### Fiduciary Liability Insurance Guide

13. [Field Assistance Bulletin No. 2008-04: Guidance Regarding ERISA Fidelity Bonding Requirements](https://www.dol.gov/sites/dolgov/files/ebsa/employers-and-advisers/guidance/field-assistance-bulletins/erisa-fidelity-bonding-requirements.pdf). U.S. Department of Labor, Employee Benefits Security Administration; Q2 pp.2–3. Accessed 2026-09-16.
14. [Fiduciary Liability Insurance](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability). Travelers; What Is Fiduciary Liability Insurance?. Accessed 2026-09-16.

Updated 2026-09-23. Spot, a product of Tools for Enlightenment, publishes this research and works in the commercial insurance market. The comparison applies the same criteria to both providers. [Editorial policy](https://spot.insure/editorial-policy). To suggest a correction, [contact Spot](https://spot.insure/contact) with the page URL and supporting source.

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