Chubb vs 
Lockton: How Do They Compare for Fiduciary Liability Insurance?
Chubb directly underwrites fiduciary coverage for private companies; Lockton brokers policies for organizations, benefit plans, and plan managers and provides support through its professional-risk claims team.
Chubb names the benefit plan among ForeFront fiduciary insureds; Lockton places coverage and integrates claims counsel into its professional and executive risk team. 1,3
What Are the Key Differences Between Chubb and Lockton Fiduciary Liability Insurance?
ForeFront Package or Broker Claims Team
Chubb’s ForeFront route packages fiduciary for private companies, while Lockton can shop insurers and bring claims counsel into the placement. Choose Chubb for the defined portfolio route; choose Lockton when insurer selection and broker-side claims counsel matter more. 1 2 3
What a Typical Policy Is Said to Cover
Chubb lists allegation types such as prohibited transactions and imprudent investment. Lockton describes a typical placed policy as covering breaches of benefit laws, plan-administration errors, voluntary compliance loss, and, when the wording says so, certain HIPAA, Pension Protection Act and ACA fines. Lockton also notes fiduciary liability is distinct from a legally required ERISA bond. Those extra items are only on the specimen if the market Lockton uses actually grants them; Chubb’s public list does not use that same fine-and-penalty framing. 1 3
Who Is Named as an Insured
Chubb says the policy insures the company, executives, employees and the employee benefits plan. Lockton says coverage it places typically extends further to defined subsidiaries, spouses or domestic partners, estates and heirs, past employees kept as fiduciaries or consultants, and committees and trustees. If you need heirs, consultants or committee members on the form, that is a Lockton specimen question, not something Chubb’s reviewed page lists. 1 3
How You Buy Fiduciary Cover
Chubb agents and brokers quote and issue ForeFront through Chubb Marketplace. Lockton places the line as a broker rather than offering a carrier marketplace bind of its own. You reach Chubb capacity through Marketplace; you reach other (or the same) markets by asking Lockton to shop, including whether Chubb is on that list. 2 3
What Should You Confirm in Chubb and Lockton Fiduciary Liability Insurance Quotes?
- Ask Lockton whether Chubb is a market for your ForeFront-eligible private company. 3 1
- Confirm whether fines and penalties Lockton describes are actually stated on the Chubb specimen. 3 1
- Compare Lockton’s extended insured list (heirs, past employees, consultants) with Chubb’s named insureds. 3 1
- Ask how Lockton’s claims team would use Chubb’s loss-prevention resources after bind. 3 2
Chubb vs Lockton Fiduciary Liability Insurance Compared
Chubb vs Lockton: Fiduciary Liability Insurance: documented features by provider
| Criteria | Chubb ForeFront Portfolio 3.0 Fiduciary Liability Insurance | Lockton Fiduciary Liability Insurance Brokerage |
|---|---|---|
| Who It’s For | Chubb says private-company underwriters located across the U.S. handle this product and are experienced in a broad spectrum of industries. 1Company-reported. Coverage Highlights, Benefits section. | Lockton says coverage under a fiduciary liability policy it places typically extends to the organization, the benefit plans, employees, subsidiaries as defined in the policy, spouses/domestic partners, estates/heirs, past employees retained as fiduciaries or consultants, and committees and trustees. 3Company-reported. Fiduciary liability product page as read 2026-09-23. |
| Coverage Features | 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. 1Company-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. 1Company-reported. Coverage Highlights list. | Lockton says a typical fiduciary liability policy it places covers breaches of benefit laws, errors and omissions in plan administration, voluntary compliance loss, and, when explicitly stated, certain fines and penalties such as under HIPAA, the Pension Protection Act and the ACA. It also notes fiduciary liability is distinct from an ERISA bond, which is legally required and insures plan assets against theft under a crime/fidelity policy, whereas fiduciary liability is not legally required but covers governance and decision-making risk. 3Company-reported. Fiduciary liability product page as read 2026-09-23. General policy-structure description, not a specimen form. |
| Role in This Line | 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. 1Company-reported. ForeFront Portfolio 3.0 Fiduciary Liability product page. | Lockton places fiduciary liability insurance to protect companies and the individuals who manage their employee benefit plans against claims of mismanagement; Lockton is the broker, not the insurer. 3Company-reported. Fiduciary liability product page as read 2026-09-23. |
