---
title: "Gallagher vs Heffernan Insurance Brokers Fiduciary Liability Insurance"
description: "Gallagher’s executive-risk practice models fiduciary limits for ERISA committees; Heffernan places the line for businesses and family offices with a risk-management assessment."
canonical: "https://spot.insure/compare/gallagher-vs-heffernan/fiduciary"
page-type: "line-comparison"
updated-at: "2026-09-23"
---

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# Gallagher vs Heffernan Insurance Brokers Fiduciary Liability Insurance

Gallagher’s executive-risk practice models fiduciary limits for ERISA committees; Heffernan places the line for businesses and family offices with a risk-management assessment.

## Research Scope and Use

Use this comparison to evaluate Gallagher and Heffernan Insurance Brokers 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

Gallagher’s Executive and Financial Risk practice places fiduciary liability for corporate ERISA fiduciaries and committees and says it uses proprietary models to choose limits. Heffernan shops the same line for general businesses and for family offices, trusts, and other financial firms, with a Private Client Group specialist and a Risk Management Assessment. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [8](https://www.heffins.com/business-insurance/ "Heffernan Business Insurance Brokerage") [9](https://www.heffins.com/family-office/ "Family Office")

## 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. [1](https://www.ajg.com/industries/technology-insurance/ "Technology Insurance") [2](https://www.gallaghersmallbusiness.com/technology-services/ "Insurance for Technology & IT Businesses") [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [4](https://www.gallaghersmallbusiness.com/legal-information/ "Legal Information") [5](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 Heffernan Insurance Brokers?

Heffernan Insurance Brokers is an independent, Walnut Creek–headquartered retail brokerage that arranges business insurance, employee benefits, and related services. Its technology practice markets to mid- and late-stage companies, including venture-funded and pre-IPO firms. [6](https://www.heffins.com/about-us/our-story/ "Our Story") [7](https://www.heffins.com/business-insurance/technology/ "Technology Company Insurance") [8](https://www.heffins.com/business-insurance/ "Heffernan Business Insurance Brokerage")

[Heffernan Insurance Brokers profile](https://spot.insure/insurance-providers/heffernan)

## What Is Fiduciary Liability Insurance?

Fiduciary liability insurance addresses covered claims alleging breaches of duties in managing employee benefit plans. [10](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") [11](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance")

## Key Differences in Fiduciary Liability Insurance

### Limit Models Versus Family-Office Assessment

Gallagher’s Executive and Financial Risk practice places fiduciary liability with outside carriers and says it uses proprietary models to measure fiduciary risk and select limits. Heffernan also brokers rather than underwrites; its family-office practice describes a Risk Management Assessment that itemizes structures, assets, and exposures and helps navigate claims. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [8](https://www.heffins.com/business-insurance/ "Heffernan Business Insurance Brokerage") [9](https://www.heffins.com/family-office/ "Family Office")

### 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. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [8](https://www.heffins.com/business-insurance/ "Heffernan Business Insurance Brokerage") [9](https://www.heffins.com/family-office/ "Family Office")

### 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. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [9](https://www.heffins.com/family-office/ "Family Office") [8](https://www.heffins.com/business-insurance/ "Heffernan Business Insurance Brokerage")

### 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. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [9](https://www.heffins.com/family-office/ "Family Office")

## What to Confirm in Fiduciary Liability Insurance Quotes

- Ask Gallagher for the output of its limit model and Heffernan for the insurer it would place. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [8](https://www.heffins.com/business-insurance/ "Heffernan Business Insurance Brokerage")
- Confirm whether Heffernan is quoting the business desk or the family-office practice. [9](https://www.heffins.com/family-office/ "Family Office")
- Check whether ERISA committees (Gallagher’s focus) or trustees (Heffernan’s family-office list) need to be scheduled. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [9](https://www.heffins.com/family-office/ "Family Office")
- Request retentions; both pages leave amounts unpublished. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [8](https://www.heffins.com/business-insurance/ "Heffernan Business Insurance Brokerage")

## Offering Details

| Criteria | Gallagher Fiduciary Liability Insurance | Heffernan Fiduciary Liability Insurance |
| --- | --- | --- |
| 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. [3](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..) | 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. [8](https://www.heffins.com/business-insurance/ "Heffernan Business Insurance Brokerage") [9](https://www.heffins.com/family-office/ "Family Office") (Evidence: Company-reported; scope: Business Insurance and Family Office page listings; no dedicated fiduciary-liability product page was found..) |
| Issuing Insurer | The executive-and-financial-risk page does not name the insurer that would issue a given client's fiduciary liability policy. [3](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..) | The reviewed pages do not name the insurer or insurers that issue fiduciary liability policies Heffernan places for either business clients or family offices. [8](https://www.heffins.com/business-insurance/ "Heffernan Business Insurance Brokerage") [9](https://www.heffins.com/family-office/ "Family Office") (Evidence: Not publicly disclosed; scope: Business Insurance and Family Office pages as read on 2026-09-23..) |
| 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. [3](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..) | 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. [8](https://www.heffins.com/business-insurance/ "Heffernan Business Insurance Brokerage") [9](https://www.heffins.com/family-office/ "Family Office") (Evidence: Company-reported; scope: 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. [3](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..) | 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. [9](https://www.heffins.com/family-office/ "Family Office") (Evidence: Company-reported; scope: Family Office page as read on 2026-09-23..) |
| Limits and Retentions | The page does not publish specific fiduciary liability limits or premium ranges beyond describing its proprietary limit-selection models. [3](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..) | Neither page publishes a fiduciary-liability limit, retention, or premium range. [8](https://www.heffins.com/business-insurance/ "Heffernan Business Insurance Brokerage") [9](https://www.heffins.com/family-office/ "Family Office") (Evidence: Not found in reviewed sources; scope: Business Insurance and Family Office pages as read on 2026-09-23..) |
| Risk Services | Gallagher says it has proprietary models to measure fiduciary risk and assist clients in selecting coverage limits. [3](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..) | 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. [9](https://www.heffins.com/family-office/ "Family Office") (Evidence: Company-reported; scope: Family Office page as read on 2026-09-23; a company-described service, not a measured outcome..) |
| How to Apply | Not described in the reviewed sources. | The family-office practice's fiduciary-liability coverage is reached through a named Private Client Group specialist contact rather than a self-service online quote flow. [9](https://www.heffins.com/family-office/ "Family Office") (Evidence: Company-reported; scope: Family Office page as read on 2026-09-23; the general business-insurance page's fiduciary listing routes through Heffernan's general Contact Us form instead..) |

## Full Comparison

- [Gallagher vs Heffernan Insurance Brokers](https://spot.insure/compare/gallagher-vs-heffernan): 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.
- [Gallagher vs Heffernan Insurance Brokers Business Owner’s Policy](https://spot.insure/compare/gallagher-vs-heffernan/business-owners-policy)
- [Gallagher vs Heffernan Insurance Brokers Commercial Auto Insurance](https://spot.insure/compare/gallagher-vs-heffernan/commercial-auto)
- [Gallagher vs Heffernan Insurance Brokers Commercial Property Insurance](https://spot.insure/compare/gallagher-vs-heffernan/commercial-property)
- [Gallagher vs Heffernan Insurance Brokers Crime Insurance](https://spot.insure/compare/gallagher-vs-heffernan/crime)
- [Gallagher vs Heffernan Insurance Brokers Cyber Insurance](https://spot.insure/compare/gallagher-vs-heffernan/cyber)
- [Gallagher vs Heffernan Insurance Brokers Employee Health Benefits](https://spot.insure/compare/gallagher-vs-heffernan/employee-health-benefits)
- [Gallagher vs Heffernan Insurance Brokers Employment Practices Liability Insurance](https://spot.insure/compare/gallagher-vs-heffernan/employment-practices)
- [Gallagher vs Heffernan Insurance Brokers Fidelity Bonds](https://spot.insure/compare/gallagher-vs-heffernan/fidelity-bonds)
- [Gallagher vs Heffernan Insurance Brokers General Liability Insurance](https://spot.insure/compare/gallagher-vs-heffernan/general-liability)
- [Gallagher vs Heffernan Insurance Brokers Professional Liability (E&O) Insurance](https://spot.insure/compare/gallagher-vs-heffernan/professional-errors-omissions)
- [Gallagher vs Heffernan Insurance Brokers Representations and Warranties Insurance](https://spot.insure/compare/gallagher-vs-heffernan/representations-warranties)
- [Gallagher vs Heffernan Insurance Brokers Surety Bonds](https://spot.insure/compare/gallagher-vs-heffernan/surety-bonds)
- [Gallagher vs Heffernan Insurance Brokers Workers’ Compensation Insurance](https://spot.insure/compare/gallagher-vs-heffernan/workers-compensation)
- [Alliance Risk vs Gallagher Fiduciary Liability Insurance](https://spot.insure/compare/alliance-risk-vs-gallagher/fiduciary)
- [Alliance Risk vs Heffernan Insurance Brokers Fiduciary Liability Insurance](https://spot.insure/compare/alliance-risk-vs-heffernan/fiduciary)
- [Beazley vs Gallagher Fiduciary Liability Insurance](https://spot.insure/compare/beazley-vs-gallagher/fiduciary)
- [Beazley vs Heffernan Insurance Brokers Fiduciary Liability Insurance](https://spot.insure/compare/beazley-vs-heffernan/fiduciary)
- [Chubb vs Gallagher Fiduciary Liability Insurance](https://spot.insure/compare/chubb-vs-gallagher/fiduciary)
- [Chubb vs Heffernan Insurance Brokers Fiduciary Liability Insurance](https://spot.insure/compare/chubb-vs-heffernan/fiduciary)

## Sources

### Gallagher

1. [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.
2. [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.
3. [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.
4. [Legal Information](https://www.gallaghersmallbusiness.com/legal-information/). Gallagher Small Business; Producer identification immediately above Quick Links. Accessed 2026-09-16.
5. [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.

### Heffernan Insurance Brokers

6. [Our Story](https://www.heffins.com/about-us/our-story/). Heffernan Insurance Brokers; Headquartered in Walnut Creek; nationwide presence; founded 1988; employee owned; niche practices including technology. Accessed 2026-09-16.
7. [Technology Company Insurance](https://www.heffins.com/business-insurance/technology/). Heffernan Insurance Brokers; Pre-IPO and venture-funded heading; mid to late stage specialization; global expansion copy; self-insurance strategies; Key Markets list; Why Heffernan broker history; Joseph Talmadge practice leader; FAQ. Accessed 2026-09-16.
8. [Heffernan Business Insurance Brokerage](https://www.heffins.com/business-insurance/). Heffernan Insurance Brokers; Corporate and executive protection, such as employment practices liability, directors and officers liability, fiduciary responsibility, cyber liability, and kidnap and ransom are also available through our comprehensive business insurance programs.. Accessed 2026-09-23.
9. [Family Office](https://www.heffins.com/family-office/). Heffernan Insurance Brokers; We serve: Family offices, Trust companies, Individual and professional trustees, Financial advisors/CPAs/attorneys, Private equity firms, Foundations, Financial institutions; Coverage for Family Offices, Trustees & Financial Firms: ... Fiduciary liability insurance ...; Risk Management Assessment section; contact Lacey Garrison. Accessed 2026-09-23.

### Fiduciary Liability Insurance Guide

10. [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.
11. [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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