Founder Shield vs Gallagher Fiduciary Liability Insurance

Founder Shield is a retail insurance brokerage, described on its site as “the innovation arm of The Baldwin Group,” and places Founder Shield Fiduciary Liability Insurance with third-party carriers rather than underwriting the policy itself. ⁷Company-reported. About-us page; applies to Founder Shield's brokerage model generally, restated here for this line.

Gallagher's Executive and Financial Risk practice places fiduciary liability coverage with outside carriers and advises on limits; it does not underwrite the policy. ¹⁰Company-reported. Group-level executive-and-financial-risk practice page.

Founder Shield says it places policies, including Founder Shield Fiduciary Liability Insurance, only with carriers rated A- or better by AM Best, chosen for the client's industry. It does not name the issuing insurer for this line; that depends on which carrier the policy is placed with. ³Company-reported. General carrier-selection FAQ, not specific to this line's placements.

The executive-and-financial-risk page does not name the insurer that would issue a given client's fiduciary liability policy. ¹⁰Not publicly disclosed. Checked the group-level executive-and-financial-risk practice page.

Founder Shield markets fiduciary liability to plan sponsors offering a 401(k) or similar plan and to the individual fiduciaries who handle plan funds or property. ⁶Company-reported. Fiduciary Liability product page.

Gallagher targets this coverage at corporations sponsoring retirement or welfare benefit plans, since the described exposure is tied specifically to ERISA fiduciary duties. ¹⁰Company-reported. Group-level executive-and-financial-risk practice page.

Founder Shield lists claims of risky plan investments, poor investment advice, administrative errors in benefits processing, and improper denial or change of benefits as scenarios fiduciary liability responds to. ⁶Company-reported. Product page; the issued policy and declarations control actual coverage.

Founder Shield distinguishes fiduciary liability from D&O and general liability: it responds to breach-of-fiduciary-duty claims tied to ERISA plan administration, not general management or bodily-injury claims. ⁶Company-reported. Fiduciary Liability product page.

Gallagher describes fiduciary liability as protecting a corporation's Employee Retirement Income Security Act (ERISA) fiduciaries, fiduciary committees and personnel who design or implement 401(k) or pension plans for employees and retirees. ¹⁰Company-reported. Group-level executive-and-financial-risk practice page; a service description, not a specific policy's insuring agreement or exclusions.

Not described in the reviewed sources.

The page does not publish specific fiduciary liability limits or premium ranges beyond describing its proprietary limit-selection models. ¹⁰Not publicly disclosed. Checked the group-level executive-and-financial-risk practice page.

Not described in the reviewed sources.

Gallagher says it has proprietary models to measure fiduciary risk and assist clients in selecting coverage limits. ¹⁰Company-reported. Group-level executive-and-financial-risk practice page.

You request Founder Shield Fiduciary Liability Insurance through Founder Shield's website or an insurance advisor rather than binding coverage directly; Founder Shield says its placement team then approaches carriers on the client's behalf. ^7,3Company-reported. About-us and carrier-selection pages describe the general placement process, not a line-specific application form.

Not described in the reviewed sources.