Beazley vs Heffernan Insurance Brokers: How Do They Compare for Fiduciary Liability Insurance?

Beazley underwrites fiduciary liability for employee-plan administrators; Heffernan Insurance Brokers offers coverage through its business and family-office executive-protection practices and provides risk-management assessments.

Beazley underwrites fiduciary and publishes statutory sublimits; Heffernan brokers the line for general businesses and family offices without identifying the eventual insurer. ^1,^2,^3,⁴

What Are the Key Differences Between Beazley and Heffernan Insurance Brokers Fiduciary Liability Insurance?

Who Issues the Policy

Beazley underwrites fiduciary for people administering employer benefit plans, with coverage also available inside ExecuGuard. Heffernan shops the line with insurers and its reviewed pages do not identify the carrier for a specific placement. ¹ ² ³

Plan Wording Versus Placement Catalogue

Beazley publishes statutory-claim sublimits, omnibus plan language meant to pick up newly created or acquired plans, and settlor-capacity protection in the fiduciary insuring clauses. Heffernan’s family-office page lists fiduciary liability next to directors and officers, professional liability and trustee liability, without describing those insuring agreements. ¹ ⁴

Who Each Offering Is Built Around

Beazley frames the product around personal liability of plan administrators for health, pension and 401(k) plans. Heffernan splits the line between general business brokerage and a family-office book that also names trust companies, trustees, financial advisors, private equity firms and foundations. ¹ ⁴ ³

Risk Tools and How You Start

Beazley says fiduciary policyholders get BeazleySure loss-prevention content, and its Tools list is a downloadable ExecuGuard application. Heffernan describes a Risk Management Assessment that itemizes structures and exposures, then routes family-office fiduciary work through a named Private Client Group contact rather than a self-serve quote. ¹ ⁴

What Should You Confirm in Beazley and Heffernan Insurance Brokers Fiduciary Liability Insurance Quotes?

Ask whether Beazley coverage would sit standalone or inside ExecuGuard shared or separate limits. ²
Get Heffernan’s issuing insurer and whether the placement is for a general business account or the family-office practice. ³ ⁴
Compare Beazley’s advertised limit up to US $20 million and statutory sublimits with whatever Heffernan’s market quotes; Heffernan’s reviewed pages do not publish a fiduciary limit. ¹ ³
Confirm choice-of-counsel on Beazley and how Heffernan would help navigate a fiduciary claim under its assessment process. ¹ ⁴

Beazley vs Heffernan Insurance Brokers Fiduciary Liability Compared

Beazley vs Heffernan Insurance Brokers: Fiduciary Liability Insurance: documented features by provider

Criteria	Beazley Fiduciary Liability	Heffernan Fiduciary Liability Insurance
How to Apply	The Fiduciary page lists a downloadable ExecuGuard application as its Tools & Resources item, rather than a fiduciary-only application. ¹Company-reported. Fiduciary product page Tools & Resources section as read on 2026-09-23.	The family-office practice's fiduciary-liability coverage is reached through a named Private Client Group specialist contact rather than a self-service online quote flow. ⁴Company-reported. Family Office page as read on 2026-09-23; the general business-insurance page's fiduciary listing routes through Heffernan's general Contact Us form instead.
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. ¹Company-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. ¹Company-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, 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. ¹Company-reported. Fiduciary product page feature list; actual plan-coverage scope depends on the issued policy wording.	On the family-office page, fiduciary liability insurance is listed alongside directors and officers, professional liability, employment practices liability, trustee liability, and other management-liability-adjacent lines as coverage the practice can arrange, without describing the policy's insuring agreement or exclusions. ⁴Company-reported. Family Office page as read on 2026-09-23.
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. ^1,²Company-reported. US fiduciary liability as described on the two reviewed product pages; does not establish which entity issues a particular policy.	Heffernan places fiduciary liability coverage within its general corporate/executive-protection lineup and again within a dedicated family-office and financial-institution practice. It shops and places the coverage with insurers rather than underwriting it. ^3,⁴Company-reported. Business Insurance and Family Office page listings; no dedicated fiduciary-liability product page was found.
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. ¹Company-reported. Fiduciary product page service description; actual entitlements depend on the policy purchased.	Heffernan's family-office practice describes a Risk Management Assessment: itemizing a client's structures, assets, and exposures; crafting insurance and risk-management strategies to close coverage gaps; and helping navigate claims, for its fiduciary and financial-institution client base. ⁴Company-reported. Family Office page as read on 2026-09-23; a company-described service, not a measured outcome.