---
title: "Embroker vs Lockton Fiduciary Liability Insurance"
description: "Embroker lists ERISA funding failure as excluded; Lockton describes typical cover for benefit-law breaches, voluntary compliance, and selected statutory fines."
canonical: "https://spot.insure/compare/embroker-vs-lockton/fiduciary"
page-type: "line-comparison"
updated-at: "2026-09-23"
---

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# Embroker vs Lockton Fiduciary Liability Insurance

Embroker lists ERISA funding failure as excluded; Lockton describes typical cover for benefit-law breaches, voluntary compliance, and selected statutory fines.

## Research Scope and Use

Use this comparison to evaluate Embroker and Lockton for Fiduciary Liability Insurance against the same documented criteria. It identifies differences and questions to confirm; it does not select a winner for a particular business. Offering claims are what each provider publishes about this line unless marked otherwise. “Not found” describes the evidence reviewed, not proof that a feature is unavailable. Confirm the insurer, policy wording, limits, retentions, exclusions and cost in an actual quote.

## Summary

Embroker sells fiduciary liability online with listed exclusions, including failure to fund a plan under ERISA, and typical premiums of $500 to $2,500. Lockton brokers the line and describes a typical policy as covering benefit-law breaches, administration errors, voluntary compliance loss, and certain HIPAA, Pension Protection Act, and ACA fines when the form says so. [4](https://www.embroker.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance: What Is It & How It Works") [8](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance")

## What Is Embroker?

Embroker is a business insurance broker and online platform serving startups, technology companies and professional-services firms, with proprietary programs and broker-assisted placements. [1](https://www.embroker.com/ "Embroker") [2](https://www.embroker.com/terms/ "Terms And Conditions") [3](https://access.embroker.com/ "Embroker Access")

[Embroker profile](https://spot.insure/insurance-providers/embroker)

## What Is Lockton?

Lockton is a privately held insurance brokerage that arranges commercial risk, employee benefits and retirement programs. US pages describe a technology practice and intermediary placement with insurers, not Lockton as the policy’s insurer. [5](https://global.lockton.com/us/en "Lockton United States") [6](https://global.lockton.com/us/en/technology "Technology") [7](https://global.lockton.com/us/en/terms-of-business "US Terms of Business")

[Lockton profile](https://spot.insure/insurance-providers/lockton)

## What Is Fiduciary Liability Insurance?

Fiduciary liability insurance addresses covered claims alleging breaches of duties in managing employee benefit plans. [9](https://www.dol.gov/sites/dolgov/files/ebsa/employers-and-advisers/guidance/field-assistance-bulletins/erisa-fidelity-bonding-requirements.pdf "Field Assistance Bulletin No. 2008-04: Guidance Regarding ERISA Fidelity Bonding Requirements") [10](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance")

## Key Differences in Fiduciary Liability Insurance

### What Each Says a Policy Does

Embroker lists cover for errors administering benefit plans and imprudent selection of investments or third-party providers, and automatic cover for most newly created or acquired plans. Lockton describes a typical placed policy as covering breaches of benefit laws, administration errors, voluntary compliance loss, and, when stated, certain HIPAA, Pension Protection Act, and ACA fines, and distinguishes the line from a required ERISA bond. [4](https://www.embroker.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance: What Is It & How It Works") [8](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance")

### 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. [4](https://www.embroker.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance: What Is It & How It Works") [8](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance")

### 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. [4](https://www.embroker.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance: What Is It & How It Works") [8](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance")

## What to Confirm in 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. [8](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") [4](https://www.embroker.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance: What Is It & How It Works")
- Compare ERISA funding language: Embroker lists funding failure as excluded. [4](https://www.embroker.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance: What Is It & How It Works")
- Check insured schedules against Lockton’s listed classes of insureds. [8](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance")
- Request limits: Embroker mentions up to $20 million; Lockton’s page does not publish amounts. [4](https://www.embroker.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance: What Is It & How It Works") [8](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance")

## Offering Details

| Criteria | Embroker Fiduciary Liability Insurance | Lockton Fiduciary Liability Insurance Brokerage |
| --- | --- | --- |
| 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. [4](https://www.embroker.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance: What Is It & How It Works") (Evidence: Company-reported; scope: 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. [8](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: Fiduciary liability product page as read 2026-09-23..) |
| Issuing Insurer | Not described in the reviewed sources. | The page does not name the insurers Lockton places fiduciary liability coverage with. [8](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") (Evidence: Not publicly disclosed; scope: Fiduciary liability page checked 2026-09-23..) |
| 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. [4](https://www.embroker.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance: What Is It & How It Works") (Evidence: Company-reported; scope: 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. [8](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: 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. [4](https://www.embroker.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance: What Is It & How It Works") (Evidence: Company-reported; scope: Product-page What's covered section; the issued policy and declarations control..)<br><br>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. [4](https://www.embroker.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance: What Is It & How It Works") (Evidence: Company-reported; scope: 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. [8](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: Fiduciary liability product page as read 2026-09-23. General policy-structure description, not a specimen form..) |
| Limits and Retentions | Embroker says fiduciary liability premiums typically range from $500 to $2,500 per year and that policies can cover as much as $20 million, driven mainly by total plan assets under management, the policy limit and the quality of service providers. [4](https://www.embroker.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance: What Is It & How It Works") (Evidence: Company-reported; scope: Product-page 'What does Fiduciary Liability cost?' section; actual pricing and limits depend on underwriting..) | Not described in the reviewed sources. |
| Risk Services | The reviewed fiduciary liability page does not describe dedicated risk-control or plan-administration review services beyond general references to the Embroker Resource Hub and chat support. [4](https://www.embroker.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance: What Is It & How It Works") (Evidence: Not found in reviewed sources; scope: Product page as read on 2026-09-23..) | Not described in the reviewed sources. |
| How to Apply | Embroker offers an online quote for fiduciary liability through its digital platform. [4](https://www.embroker.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance: What Is It & How It Works") (Evidence: Company-reported; scope: Product-page 'Quick quotes' feature description; no quote was requested during this research..) | Not described in the reviewed sources. |
| Claims Support | Not described in the reviewed sources. | Lockton's Professional & Executive Risk Claims team integrates insurance and claims counsel within the broking team, which Lockton says is meant to have claims strategy in place before a fiduciary liability claim arises. [8](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: Fiduciary liability product page as read 2026-09-23..) |

## Full Comparison

- [Embroker vs Lockton](https://spot.insure/compare/embroker-vs-lockton): all coverage lines, business roles, service and claims.
- [What Is Fiduciary Liability Insurance?](https://spot.insure/coverage/fiduciary): Fiduciary liability insurance can help with covered claims alleging that your business or its people breached duties in managing an employee benefit plan.
- [Embroker vs Lockton Commercial Property Insurance](https://spot.insure/compare/embroker-vs-lockton/commercial-property)
- [Embroker vs Lockton Crime Insurance](https://spot.insure/compare/embroker-vs-lockton/crime)
- [Embroker vs Lockton Cyber Insurance](https://spot.insure/compare/embroker-vs-lockton/cyber)
- [Embroker vs Lockton D&O Insurance](https://spot.insure/compare/embroker-vs-lockton/directors-officers)
- [Embroker vs Lockton Employment Practices Liability Insurance](https://spot.insure/compare/embroker-vs-lockton/employment-practices)
- [Embroker vs Lockton General Liability Insurance](https://spot.insure/compare/embroker-vs-lockton/general-liability)
- [Embroker vs Lockton Product Liability Insurance](https://spot.insure/compare/embroker-vs-lockton/product-liability)
- [Embroker vs Lockton Surety Bonds](https://spot.insure/compare/embroker-vs-lockton/surety-bonds)
- [Embroker vs Lockton Workers’ Compensation Insurance](https://spot.insure/compare/embroker-vs-lockton/workers-compensation)
- [Alliance Risk vs Embroker Fiduciary Liability Insurance](https://spot.insure/compare/alliance-risk-vs-embroker/fiduciary)
- [Alliance Risk vs Lockton Fiduciary Liability Insurance](https://spot.insure/compare/alliance-risk-vs-lockton/fiduciary)
- [Beazley vs Embroker Fiduciary Liability Insurance](https://spot.insure/compare/beazley-vs-embroker/fiduciary)
- [Beazley vs Lockton Fiduciary Liability Insurance](https://spot.insure/compare/beazley-vs-lockton/fiduciary)
- [Chubb vs Embroker Fiduciary Liability Insurance](https://spot.insure/compare/chubb-vs-embroker/fiduciary)
- [Chubb vs Lockton Fiduciary Liability Insurance](https://spot.insure/compare/chubb-vs-lockton/fiduciary)

## Sources

### Embroker

1. [Embroker](https://www.embroker.com/). Embroker; Industry navigation; quote and sign-in links; coverage options; footer availability qualification. Accessed 2026-09-15.
2. [Terms And Conditions](https://www.embroker.com/terms/). Embroker; Introduction; §§2A–B Insurance services, 13 Applications and quotes, 15 Insurance companies and underwriting guidelines, 16 Certificates, 21 Surplus lines products, 22 Payments. Accessed 2026-09-15.
3. [Embroker Access](https://access.embroker.com/). Embroker; EMIS announcement; appointed-broker quoting, binding and issuance; product links; footer identifies Embroker Insurance Services, LLC. Accessed 2026-09-15.
4. [Fiduciary Liability Insurance: What Is It & How It Works](https://www.embroker.com/coverage/fiduciary-liability-insurance/). Embroker; Why it's essential; Who needs this coverage; What is Fiduciary Liability insurance?; What's covered; What's not included; Are there additional coverages available with Fiduciary Liability insurance?; What does Fiduciary Liability cost?. Accessed 2026-09-23.

### Lockton

5. [Lockton United States](https://global.lockton.com/us/en). Lockton; Opening description of independent insurance brokerage for risk, benefits and retirement; Ask an Expert link to contact-us. Accessed 2026-09-16.
6. [Technology](https://global.lockton.com/us/en/technology). Lockton; Industry introduction; cyber liability heading; dedicated technology team; listed services including claims advocacy, contract review, directors and officers liability, and international program design; 24/7 service model. Accessed 2026-09-16.
7. [US Terms of Business](https://global.lockton.com/us/en/terms-of-business). Lockton; Opening entity definition; Surplus Lines; Use of a Particular Insurer; Compensation Disclosure; servicing, claims handling and renewal language in Confidentiality section; Intermediaries. Accessed 2026-09-16.
8. [Fiduciary Liability Insurance](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance). Lockton; What is fiduciary liability insurance?; Typical coverage on a fiduciary liability policy; Who can be covered under a fiduciary liability policy?; How does fiduciary liability insurance complement similar lines of coverage; Claims management. Accessed 2026-09-23.

### Fiduciary Liability Insurance Guide

9. [Field Assistance Bulletin No. 2008-04: Guidance Regarding ERISA Fidelity Bonding Requirements](https://www.dol.gov/sites/dolgov/files/ebsa/employers-and-advisers/guidance/field-assistance-bulletins/erisa-fidelity-bonding-requirements.pdf). U.S. Department of Labor, Employee Benefits Security Administration; Q2 pp.2–3. Accessed 2026-09-16.
10. [Fiduciary Liability Insurance](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability). Travelers; What Is Fiduciary Liability Insurance?. Accessed 2026-09-16.

Updated 2026-09-23. Spot, a product of Tools for Enlightenment, publishes this research and works in the commercial insurance market. The comparison applies the same criteria to both providers. [Editorial policy](https://spot.insure/editorial-policy). To suggest a correction, [contact Spot](https://spot.insure/contact) with the page URL and supporting source.

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