Founder Shield vs USI Insurance Services: How Do They Compare for Fiduciary Liability Insurance?

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. ¹Company-reported. Fiduciary Liability product page.

USI's Business Services practice targets building and maintenance, repair service, janitorial, staffing and printing companies for its broader coverage catalogue, which includes fiduciary liability; the ExecuSafe article separately targets small- and medium-sized businesses generally for management liability review. ^4,5Company-reported. Company description of client segments for each source.

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. ^2,3Company-reported. About-us and carrier-selection pages describe the general placement process, not a line-specific application form.

USI directs business-services inquiries to pcinquiries@usi.com or a local office, and ExecuSafe/management-liability inquiries to Select.Business@usi.com. ^4,5Company-reported. Contact instructions on each 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. ¹Company-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. ¹Company-reported. Fiduciary Liability product page.

USI lists fiduciary liability among the coverages it places for business-services clients, and separately says its ExecuSafe review looks for gaps in a client's existing fiduciary liability coverage as part of a management liability review. ^4,5Company-reported. Catalogue listing plus the ExecuSafe review description; actual insuring agreements and exclusions are set by the issued policy.

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. ²Company-reported. About-us page; applies to Founder Shield's brokerage model generally, restated here for this line.

USI brokers fiduciary liability coverage, which protects a company and its plan fiduciaries against claims of mismanaging an employee benefit plan; USI places it individually or reviews it as part of a management liability program under its ExecuSafe endorsement package. ^4,5Company-reported. Business Services catalogue and ExecuSafe article.