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

Embroker offers an online application and publishes fiduciary limits and exclusions; Lockton brokers policies that can cover organizations, plans, and administrators, with a specialist professional-risk claims team.

Embroker lists plan-funding failure as an exclusion and annual premiums of $500–$2,500; Lockton describes typical cover for administration errors and stated HIPAA, PPA and ACA fines. ^1,²

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

What Each Says a Policy Does

Embroker lists coverage for errors in benefit-plan administration and imprudent investment or service-provider selection, plus automatic cover for most newly created or acquired plans. Lockton describes typical coverage for benefit-law breaches, administration errors, voluntary compliance loss and certain HIPAA, Pension Protection Act and ACA fines when explicitly included. ¹ ²

Funding and Crime

Embroker’s exclusions include embezzlement and other crime, outside advisors, and failure to fund a plan in accordance with ERISA. Lockton’s reviewed page does not publish that exclusion list; it instead explains who a typical policy can insure, including plans, committees, trustees, and past employees retained as fiduciaries. ¹ ²

Channel and Claims Desk

Embroker quotes online and commonly bundles with D&O and EPL. Lockton is the broker, not the insurer, and describes a Professional & Executive Risk Claims team meant to have strategy in place before a fiduciary claim. Embroker’s fiduciary page does not describe a dedicated claims unit. ¹ ²

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

Ask Lockton whether voluntary compliance and named statutory fines are on the form, and whether Embroker’s quote includes anything similar. ² ¹
Compare ERISA funding language: Embroker lists funding failure as excluded. ¹
Check insured schedules against Lockton’s listed classes of insureds. ²
Request limits: Embroker mentions up to $20 million; Lockton’s page does not publish amounts. ¹ ²

Embroker vs Lockton Fiduciary Liability Insurance Compared

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

Criteria	Embroker Fiduciary Liability Insurance	Lockton Fiduciary Liability Insurance Brokerage
Who It’s For	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. ¹Company-reported. Product-page eligibility description; not a guarantee of coverage for a particular business.	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. ²Company-reported. Fiduciary liability product page as read 2026-09-23.
Coverage Features	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. ¹Company-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. ¹Company-reported. Product-page What's not included section.	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. ²Company-reported. Fiduciary liability product page as read 2026-09-23. General policy-structure description, not a specimen form.
Role in This Line	Embroker sells fiduciary liability as a standalone policy and says it is most commonly bundled with directors and officers and employment practices liability coverage. ¹Company-reported. Product-page description; not a statement about the issuing insurer.	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. ²Company-reported. Fiduciary liability product page as read 2026-09-23.

Criteria

Embroker Fiduciary Liability Insurance

Lockton Fiduciary Liability Insurance Brokerage

Who It’s For

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. ¹Company-reported. Product-page eligibility description; not a guarantee of coverage for a particular business.

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. ²Company-reported. Fiduciary liability product page as read 2026-09-23.

Coverage Features

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. ¹Company-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. ¹Company-reported. Product-page What's not included section.

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. ²Company-reported. Fiduciary liability product page as read 2026-09-23. General policy-structure description, not a specimen form.

Role in This Line

Embroker sells fiduciary liability as a standalone policy and says it is most commonly bundled with directors and officers and employment practices liability coverage. ¹Company-reported. Product-page description; not a statement about the issuing insurer.

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. ²Company-reported. Fiduciary liability product page as read 2026-09-23.