---
title: "Founder Shield vs Gallagher Fiduciary Liability Insurance"
description: "Founder Shield places A-rated fiduciary paper for 401(k) sponsors; Gallagher’s executive-risk practice uses proprietary models to choose fiduciary limits."
canonical: "https://spot.insure/compare/foundershield-vs-gallagher/fiduciary"
page-type: "line-comparison"
updated-at: "2026-09-23"
---

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[Human-readable page](https://spot.insure/compare/foundershield-vs-gallagher/fiduciary)

# Founder Shield vs Gallagher Fiduciary Liability Insurance

Founder Shield places A-rated fiduciary paper for 401(k) sponsors; Gallagher’s executive-risk practice uses proprietary models to choose fiduciary limits.

## Research Scope and Use

Use this comparison to evaluate Founder Shield and Gallagher 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

Founder Shield is a Baldwin Group retail brokerage that places fiduciary liability with AM Best A-rated carriers for plan sponsors and individual fiduciaries. Gallagher’s Executive and Financial Risk practice places the line with outside carriers and says it uses proprietary models to measure fiduciary risk and select limits. [7](https://foundershield.com/about-us/ "About Us") [3](https://foundershield.com/insurance-faqs/general-faqs/how-do-you-decide-which-carriers-to-approach/ "How Do You Decide Which Carriers to Approach?") [10](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance")

## What Is Founder Shield Insurance?

Founder Shield is a commercial insurance broker for venture-backed and growing businesses. Buyers can request coverage through its online portal and work with advisors on insurer selection, policy changes and claims reporting. [1](https://foundershield.com/ "Founder Shield") [2](https://apx.foundershield.com/ "Quote Portal") [3](https://foundershield.com/insurance-faqs/general-faqs/how-do-you-decide-which-carriers-to-approach/ "How Do You Decide Which Carriers to Approach?") [4](https://foundershield.com/insurance-faqs/general-faqs/what-if-our-company-grows-a-lot-or-things-change-during-the-year/ "What If Our Company Grows A Lot or Things Change During the Year?") [5](https://foundershield.com/claims/ "Claims")

[Founder Shield profile](https://spot.insure/insurance-providers/foundershield)

## What Is Gallagher?

Gallagher is a business-insurance broker and risk-management consultancy. Its technology practice serves startups through global enterprises, alongside a separate small-business offering for IT professionals and an executive-risk practice covering D&O and transaction-related coverages. Woodruff Sawyer is now part of Gallagher. [8](https://www.ajg.com/industries/technology-insurance/ "Technology Insurance") [9](https://www.gallaghersmallbusiness.com/technology-services/ "Insurance for Technology & IT Businesses") [10](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [11](https://www.gallaghersmallbusiness.com/legal-information/ "Legal Information") [12](https://www.ajg.com/merger-partners/woodruff-sawyer-is-now-gallagher/ "Woodruff Sawyer Is Now Gallagher")

[Gallagher profile](https://spot.insure/insurance-providers/gallagher)

## What Is Fiduciary Liability Insurance?

Fiduciary liability insurance addresses covered claims alleging breaches of duties in managing employee benefit plans. [13](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") [14](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance")

## Key Differences in Fiduciary Liability Insurance

### Two Brokerages, Different Limit Tools

Founder Shield places Founder Shield Fiduciary Liability Insurance with third-party carriers and does not underwrite. Gallagher’s Executive and Financial Risk practice also places the line with outside carriers and advises on limits. Gallagher says it has proprietary models to measure fiduciary risk and help choose limits; Founder Shield’s reviewed pages do not describe a limit model. [7](https://foundershield.com/about-us/ "About Us") [10](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance")

### Carrier Rule Versus Unnamed Markets

Founder Shield says it approaches only AM Best A- or better carriers, chosen for the client’s industry, without naming the fiduciary issuer. Gallagher’s executive-risk page also does not name an insurer for a given client. [3](https://foundershield.com/insurance-faqs/general-faqs/how-do-you-decide-which-carriers-to-approach/ "How Do You Decide Which Carriers to Approach?") [10](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance")

### 401(k) Sponsors Versus ERISA Committees

Founder Shield markets to plan sponsors offering a 401(k) or similar plan and to individuals who handle plan funds or property, and lists claims such as risky investments, poor advice, benefits processing errors, and improper denial or change of benefits. Gallagher describes protection for a corporation’s ERISA fiduciaries, fiduciary committees, and personnel who design or implement 401(k) or pension plans. [6](https://foundershield.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance") [10](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance")

### How You Start

You request Founder Shield coverage through its website or an advisor so the placement team can approach carriers. Gallagher’s reviewed page is a group-level practice description rather than a self-serve bind flow. [7](https://foundershield.com/about-us/ "About Us") [3](https://foundershield.com/insurance-faqs/general-faqs/how-do-you-decide-which-carriers-to-approach/ "How Do You Decide Which Carriers to Approach?") [10](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance")

## What to Confirm in Fiduciary Liability Insurance Quotes

- Ask Gallagher what its limit model produced, and ask Founder Shield which A-rated market it approached. [10](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [3](https://foundershield.com/insurance-faqs/general-faqs/how-do-you-decide-which-carriers-to-approach/ "How Do You Decide Which Carriers to Approach?")
- Confirm whether individual fiduciaries, not only the sponsor, are named, matching Founder Shield’s marketing. [6](https://foundershield.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance")
- Get retentions; neither reviewed page publishes them. [6](https://foundershield.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance") [10](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance")
- Ask Gallagher how ERISA committees would be scheduled versus Founder Shield’s individual-fiduciary focus. [10](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [6](https://foundershield.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance")

## Offering Details

| Criteria | Founder Shield Fiduciary Liability Insurance | Gallagher Fiduciary Liability Insurance |
| --- | --- | --- |
| Role in This Line | 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. [7](https://foundershield.com/about-us/ "About Us") (Evidence: Company-reported; scope: 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. [10](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") (Evidence: Company-reported; scope: Group-level executive-and-financial-risk practice page..) |
| Issuing Insurer | 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. [3](https://foundershield.com/insurance-faqs/general-faqs/how-do-you-decide-which-carriers-to-approach/ "How Do You Decide Which Carriers to Approach?") (Evidence: Company-reported; scope: 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. [10](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") (Evidence: Not publicly disclosed; scope: Checked the group-level executive-and-financial-risk practice page..) |
| Who It’s For | 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. [6](https://foundershield.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: 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. [10](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") (Evidence: Company-reported; scope: Group-level executive-and-financial-risk practice page..) |
| Coverage Features | 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. [6](https://foundershield.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: Product page; the issued policy and declarations control actual coverage..)<br><br>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. [6](https://foundershield.com/coverage/fiduciary-liability-insurance/ "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: 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. [10](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") (Evidence: Company-reported; scope: Group-level executive-and-financial-risk practice page; a service description, not a specific policy's insuring agreement or exclusions..) |
| Limits and Retentions | 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. [10](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") (Evidence: Not publicly disclosed; scope: Checked the group-level executive-and-financial-risk practice page..) |
| Risk Services | Not described in the reviewed sources. | Gallagher says it has proprietary models to measure fiduciary risk and assist clients in selecting coverage limits. [10](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") (Evidence: Company-reported; scope: Group-level executive-and-financial-risk practice page..) |
| How to Apply | 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](https://foundershield.com/about-us/ "About Us") [3](https://foundershield.com/insurance-faqs/general-faqs/how-do-you-decide-which-carriers-to-approach/ "How Do You Decide Which Carriers to Approach?") (Evidence: Company-reported; scope: About-us and carrier-selection pages describe the general placement process, not a line-specific application form..) | Not described in the reviewed sources. |

## Full Comparison

- [Founder Shield vs Gallagher](https://spot.insure/compare/foundershield-vs-gallagher): 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.
- [Founder Shield vs Gallagher Commercial Property Insurance](https://spot.insure/compare/foundershield-vs-gallagher/commercial-property)
- [Founder Shield vs Gallagher Crime Insurance](https://spot.insure/compare/foundershield-vs-gallagher/crime)
- [Founder Shield vs Gallagher Cyber Insurance](https://spot.insure/compare/foundershield-vs-gallagher/cyber)
- [Founder Shield vs Gallagher D&O Insurance](https://spot.insure/compare/foundershield-vs-gallagher/directors-officers)
- [Founder Shield vs Gallagher Employee Health Benefits](https://spot.insure/compare/foundershield-vs-gallagher/employee-health-benefits)
- [Founder Shield vs Gallagher Employment Practices Liability Insurance](https://spot.insure/compare/foundershield-vs-gallagher/employment-practices)
- [Founder Shield vs Gallagher Fidelity Bonds](https://spot.insure/compare/foundershield-vs-gallagher/fidelity-bonds)
- [Founder Shield vs Gallagher General Liability Insurance](https://spot.insure/compare/foundershield-vs-gallagher/general-liability)
- [Founder Shield vs Gallagher Professional Liability (E&O) Insurance](https://spot.insure/compare/foundershield-vs-gallagher/professional-errors-omissions)
- [Founder Shield vs Gallagher Representations and Warranties Insurance](https://spot.insure/compare/foundershield-vs-gallagher/representations-warranties)
- [Founder Shield vs Gallagher Umbrella and Excess Liability Insurance](https://spot.insure/compare/foundershield-vs-gallagher/umbrella-excess)
- [Founder Shield vs Gallagher Workers’ Compensation Insurance](https://spot.insure/compare/foundershield-vs-gallagher/workers-compensation)
- [Alliance Risk vs Founder Shield Fiduciary Liability Insurance](https://spot.insure/compare/alliance-risk-vs-foundershield/fiduciary)
- [Alliance Risk vs Gallagher Fiduciary Liability Insurance](https://spot.insure/compare/alliance-risk-vs-gallagher/fiduciary)
- [Beazley vs Founder Shield Fiduciary Liability Insurance](https://spot.insure/compare/beazley-vs-foundershield/fiduciary)
- [Beazley vs Gallagher Fiduciary Liability Insurance](https://spot.insure/compare/beazley-vs-gallagher/fiduciary)
- [Chubb vs Founder Shield Fiduciary Liability Insurance](https://spot.insure/compare/chubb-vs-foundershield/fiduciary)
- [Chubb vs Gallagher Fiduciary Liability Insurance](https://spot.insure/compare/chubb-vs-gallagher/fiduciary)

## Sources

### Founder Shield

1. [Founder Shield](https://foundershield.com/). Founder Shield; Opening broker description; Specialized Practices; Smart Tech, Smarter People; quote and sign-in links. Accessed 2026-09-15.
2. [Quote Portal](https://apx.foundershield.com/). Founder Shield; Public landing screen, Create Account and Sign In links. Accessed 2026-09-15.
3. [How Do You Decide Which Carriers to Approach?](https://foundershield.com/insurance-faqs/general-faqs/how-do-you-decide-which-carriers-to-approach/). Founder Shield; FAQ answer on carrier selection: works exclusively with A-rated (AM Best) carriers, matched by industry appetite. Accessed 2026-09-23.
4. [What If Our Company Grows A Lot or Things Change During the Year?](https://foundershield.com/insurance-faqs/general-faqs/what-if-our-company-grows-a-lot-or-things-change-during-the-year/). Founder Shield; Carl Niedbala answer, November 25, 2024: operational changes and coverage adjustments. Accessed 2026-09-15.
5. [Claims](https://foundershield.com/claims/). Founder Shield; Our Approach; How We Support Claims Management, steps 1–5; Make a claim link. Accessed 2026-09-15.
6. [Fiduciary Liability Insurance](https://foundershield.com/coverage/fiduciary-liability-insurance/). Founder Shield; What Is Fiduciary Liability Insurance?; Who Needs Fiduciary Liability Insurance Coverage?; What Does Fiduciary Liability Insurance Cover?. Accessed 2026-09-23.
7. [About Us](https://foundershield.com/about-us/). Founder Shield; “Founder Shield is the innovation arm of The Baldwin Group”; company history and mission. Accessed 2026-09-23.

### Gallagher

8. [Technology Insurance](https://www.ajg.com/industries/technology-insurance/). Gallagher; Introduction; Solutions and coverages for the technology industry: Technology errors and omissions including cyber, Intellectual property insurance, Product liability, Employee benefits; Data-driven insights; global network. Accessed 2026-09-16.
9. [Insurance for Technology & IT Businesses](https://www.gallaghersmallbusiness.com/technology-services/). Gallagher Small Business; Protection for IT Professionals & Their Technology-Based Businesses; recommended coverage menu, including Surety Bond Programs; Connect With An Advisor. Accessed 2026-09-16.
10. [Executive and Financial Risk Insurance](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/). Gallagher; Fiduciary Liability (Pension and Welfare Liability) insurance section. Accessed 2026-09-23.
11. [Legal Information](https://www.gallaghersmallbusiness.com/legal-information/). Gallagher Small Business; Producer identification immediately above Quick Links. Accessed 2026-09-16.
12. [Woodruff Sawyer Is Now Gallagher](https://www.ajg.com/merger-partners/woodruff-sawyer-is-now-gallagher/). Gallagher; Opening; Executive and Financial Risk consulting; Continued access to client portals; contact form. Accessed 2026-09-16.

### Fiduciary Liability Insurance Guide

13. [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.
14. [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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