Coverdash vs Embroker: How Do They Compare for Fiduciary Liability Insurance?

Coverdash arranges fiduciary quotes through its insurer panel and can bundle coverage with D&O and EPLI; Embroker sells a standalone policy through an online application and publishes limits and exclusions.

Coverdash distinguishes optional fiduciary liability from the required ERISA theft bond; Embroker excludes embezzlement, outside plan administrators and ERISA funding failures. ^1,²

What Are the Key Differences Between Coverdash and Embroker Fiduciary Liability Insurance?

Panel Placement Versus Digital Quote With Price Bands

Coverdash arranges quotes through its insurer panel but does not publish premiums or limits. Embroker offers an online fiduciary quote and reports typical premiums of $500 to $2,500 per year, with policies that can cover up to $20 million. ¹ ²

Named Exclusions

Coverdash describes coverage for breach-of-duty claims, administration errors, imprudent investments and legal defense but does not publish an exclusion list. Embroker names exclusions for criminal activity such as embezzlement, outside advisors or administrators hired to manage the plans, and failure to fund a plan under ERISA. ¹ ²

What Should You Confirm in Coverdash and Embroker Fiduciary Liability Insurance Quotes?

Match plan assets to Embroker’s $20 million figure; Coverdash does not publish a limit to compare. ² ¹
Ask Embroker whether late deposits would hit the failure-to-fund exclusion. ²
Ask Coverdash which panel carrier issues the policy. ¹
Confirm whether a newly acquired plan is automatically covered, which Embroker states for most such plans. ²

Coverdash vs Embroker Fiduciary Liability Insurance Compared

Coverdash vs Embroker: Fiduciary Liability Insurance: documented features by provider

Criteria	Coverdash Fiduciary Liability Insurance	Embroker Fiduciary Liability Insurance
Who It’s For	Coverdash markets fiduciary liability to anyone who manages or advises an employee benefit plan, such as a 401(k), health plan or pension, saying that role carries personal fiduciary liability under ERISA. ¹Company-reported. Who it's for section and FAQ answer to 'Who is considered a fiduciary?'.	Embroker targets companies that provide medical, dental, vision or other benefits, or that offer retirement plans or stock options, and says very small businesses without benefit plans generally don't need the coverage. ²Company-reported. Product-page eligibility description; not a guarantee of coverage for a particular business.
Coverage Features	Coverdash describes the fiduciary policy as covering claims of breach of duty to plan participants, plan administration errors such as enrollment or advising mistakes, and claims over poor selection or monitoring of plan investment options, plus legal defense costs. ¹Company-reported. Types of Coverage cards on the product page; exclusions and defense-cost structure are not described and would appear on the issued policy. Coverdash distinguishes fiduciary liability from an ERISA fidelity bond: the bond protects the plan itself from theft and is legally required, while fiduciary liability protects the individual fiduciaries from lawsuits and is optional, though recommended. ¹Company-reported. FAQ answer to 'Isn't this the same as an ERISA bond?'. Coverdash says fiduciary liability is often packaged with D&O and EPLI in a management liability policy, but is also available standalone. ¹Company-reported. FAQ answer to 'Is it included in management liability?'.	Embroker lists coverage for errors and omissions in administering benefit plans and imprudent selection of investments or third-party service providers, and says most newly created or acquired plans get automatic coverage. ²Company-reported. Product-page What's covered section; the issued policy and declarations control. Embroker says the policy excludes criminal activity such as embezzlement, outside advisors or administrators hired to manage the benefit plans, and failure to fund a plan in accordance with ERISA. ²Company-reported. Product-page What's not included section.
Role in This Line	Coverdash arranges fiduciary liability quotes from its panel of insurers rather than underwriting the policy itself; you request a quote on its fiduciary page and it places coverage on your behalf. ¹Company-reported. Coverdash's fiduciary liability product page, read together with the provider record's brokerage role. Does not identify which insurer would actually issue a given quote.	Embroker sells fiduciary liability as a standalone policy and says it is most commonly bundled with directors and officers and employment practices liability coverage. ²Company-reported. Product-page description; not a statement about the issuing insurer.

Criteria

Coverdash Fiduciary Liability Insurance

Embroker Fiduciary Liability Insurance

Who It’s For

Coverdash markets fiduciary liability to anyone who manages or advises an employee benefit plan, such as a 401(k), health plan or pension, saying that role carries personal fiduciary liability under ERISA. ¹Company-reported. Who it's for section and FAQ answer to 'Who is considered a fiduciary?'.

Embroker targets companies that provide medical, dental, vision or other benefits, or that offer retirement plans or stock options, and says very small businesses without benefit plans generally don't need the coverage. ²Company-reported. Product-page eligibility description; not a guarantee of coverage for a particular business.

Coverage Features

Coverdash describes the fiduciary policy as covering claims of breach of duty to plan participants, plan administration errors such as enrollment or advising mistakes, and claims over poor selection or monitoring of plan investment options, plus legal defense costs. ¹Company-reported. Types of Coverage cards on the product page; exclusions and defense-cost structure are not described and would appear on the issued policy.

Coverdash distinguishes fiduciary liability from an ERISA fidelity bond: the bond protects the plan itself from theft and is legally required, while fiduciary liability protects the individual fiduciaries from lawsuits and is optional, though recommended. ¹Company-reported. FAQ answer to 'Isn't this the same as an ERISA bond?'.

Coverdash says fiduciary liability is often packaged with D&O and EPLI in a management liability policy, but is also available standalone. ¹Company-reported. FAQ answer to 'Is it included in management liability?'.

Embroker lists coverage for errors and omissions in administering benefit plans and imprudent selection of investments or third-party service providers, and says most newly created or acquired plans get automatic coverage. ²Company-reported. Product-page What's covered section; the issued policy and declarations control.

Embroker says the policy excludes criminal activity such as embezzlement, outside advisors or administrators hired to manage the benefit plans, and failure to fund a plan in accordance with ERISA. ²Company-reported. Product-page What's not included section.

Role in This Line

Coverdash arranges fiduciary liability quotes from its panel of insurers rather than underwriting the policy itself; you request a quote on its fiduciary page and it places coverage on your behalf. ¹Company-reported. Coverdash's fiduciary liability product page, read together with the provider record's brokerage role. Does not identify which insurer would actually issue a given quote.

Embroker sells fiduciary liability as a standalone policy and says it is most commonly bundled with directors and officers and employment practices liability coverage. ²Company-reported. Product-page description; not a statement about the issuing insurer.