Beazley vs Nationwide: How Do They Compare for 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.

Nationwide describes offering fiduciary for the audience stated on the cited product page. ⁹Company-reported. fiduciary marketed by nationwide; scope is limited to the cited official product overview and described audience. This is not a policy form or a universal eligibility statement.

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.

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Commercial organizations considering management-liability products; plan eligibility is policy-specific. ⁹Company-reported. fiduciary marketed by nationwide; scope is limited to the cited official product overview and described audience. This is not a policy form or a universal eligibility statement.

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, 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.

The cited product page describes fiduciary liability as a named commercial-liability product; the overview does not specify plan-specific coverage grants. Marketing description only; actual coverage, exclusions, conditions, limits, and availability depend on the issued policy and jurisdiction. ⁹Company-reported. fiduciary marketed by nationwide; scope is limited to the cited official product overview and described audience. This is not a policy form or a universal eligibility statement.

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 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. ⁹Not publicly disclosed. Only the cited marketing page was reviewed for published limit and retention information; no policy-form entitlement is inferred.

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.

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The Fiduciary page lists a downloadable ExecuGuard application as its Tools & Resources item, rather than a fiduciary-only application. ⁵Company-reported. Fiduciary product page Tools & Resources section as read on 2026-09-23.

The page directs prospective customers to contact an agent or request a quote. The page does not establish a quote, bind, or coverage-effective timeline. ⁹Company-reported. fiduciary marketed by nationwide; scope is limited to the cited official product overview and described audience. This is not a policy form or a universal eligibility statement.

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.

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