Gallagher vs Heffernan Insurance Brokers: How Do They Compare for Fiduciary Liability Insurance?

Gallagher places fiduciary coverage with outside carriers for corporations sponsoring retirement or welfare plans; Heffernan Insurance Brokers serves both business clients and family offices through executive-protection coverage and risk assessments.

Gallagher uses proprietary models to advise fiduciary limits for ERISA committees; Heffernan offers a Risk Management Assessment for family offices and serves trusts and financial institutions. ^1,^2,³

What Are the Key Differences Between Gallagher and Heffernan Insurance Brokers Fiduciary Liability Insurance?

Limit Models Versus Family-Office Assessment

Gallagher uses proprietary models to measure fiduciary risk and help select limits. Heffernan’s family-office practice offers a Risk Management Assessment that reviews structures, assets and exposures and helps clients navigate claims. ¹ ² ³

Corporate ERISA Committees Versus Trusts

Gallagher targets corporations sponsoring retirement or welfare plans and describes protection for ERISA fiduciaries, committees, and people who design or implement 401(k) or pension plans. Heffernan lists general business clients plus family offices, trust companies, trustees, advisors, private equity, foundations, and other financial institutions. ¹ ² ³

How Much Policy Detail Is Public

Gallagher’s practice page explains the ERISA exposure but does not list insuring agreements or exclusions. Heffernan’s family-office page names fiduciary beside D&O, professional liability, EPL, and trustee liability without form detail. Neither reviewed source names an issuer or publishes limits. ¹ ³ ²

Intake

Gallagher’s reviewed page is a group practice description. Heffernan’s family-office fiduciary path uses a named Private Client Group contact; its business listing uses a general contact form. ¹ ³

What Should You Confirm in Gallagher and Heffernan Insurance Brokers Fiduciary Liability Insurance Quotes?

Ask Gallagher for the output of its limit model and Heffernan for the insurer it would place. ¹ ²
Confirm whether Heffernan is quoting the business desk or the family-office practice. ³
Check whether ERISA committees (Gallagher’s focus) or trustees (Heffernan’s family-office list) need to be scheduled. ¹ ³
Request retentions; both pages leave amounts unpublished. ¹ ²

Gallagher vs Heffernan Insurance Brokers Fiduciary Liability Compared

Gallagher vs Heffernan Insurance Brokers: Fiduciary Liability Insurance: documented features by provider

Criteria	Gallagher Fiduciary Liability Insurance	Heffernan Fiduciary Liability Insurance
Who It’s For	Gallagher targets this coverage at corporations sponsoring retirement or welfare benefit plans, since the described exposure is tied specifically to ERISA fiduciary duties. ¹Company-reported. Group-level executive-and-financial-risk practice page.	Heffernan offers fiduciary liability to two named segments: general business clients through its business-insurance brokerage, and family offices, trust companies, trustees, financial advisors, private equity firms, foundations, and other financial institutions through its family-office practice. ^2,³Company-reported. Direct practice-page listings; no minimum size or asset-under-management threshold was published for the coverage specifically.
Coverage Features	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. ¹Company-reported. Group-level executive-and-financial-risk practice page; a service description, not a specific policy's insuring agreement or exclusions.	On the family-office page, fiduciary liability insurance is listed alongside directors and officers, professional liability, employment practices liability, trustee liability, and other management-liability-adjacent lines as coverage the practice can arrange, without describing the policy's insuring agreement or exclusions. ³Company-reported. Family Office page as read on 2026-09-23.
Role in 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. ¹Company-reported. Group-level executive-and-financial-risk practice page.	Heffernan places fiduciary liability coverage within its general corporate/executive-protection lineup and again within a dedicated family-office and financial-institution practice. It shops and places the coverage with insurers rather than underwriting it. ^2,³Company-reported. Business Insurance and Family Office page listings; no dedicated fiduciary-liability product page was found.
Risk Services	Gallagher says it has proprietary models to measure fiduciary risk and assist clients in selecting coverage limits. ¹Company-reported. Group-level executive-and-financial-risk practice page.	Heffernan's family-office practice describes a Risk Management Assessment: itemizing a client's structures, assets, and exposures; crafting insurance and risk-management strategies to close coverage gaps; and helping navigate claims, for its fiduciary and financial-institution client base. ³Company-reported. Family Office page as read on 2026-09-23; a company-described service, not a measured outcome.