What Is Gallagher?
Gallagher’s technology specialists serve startups through global enterprises, while its executive-risk team supports IPO and M&A needs; small firms seeking one simple digital quote should compare online agencies. 1,2,3,4,5
What Is Liberty Mutual Business Insurance?
Liberty Mutual spans small-commercial, commercial, specialty, surety, and reinsurance businesses. The insurer and distribution route depend on the product, so check the offer and policy before you compare terms. 6,7
What Is Fiduciary Liability Insurance?
Fiduciary liability can protect your company and plan fiduciaries when participants claim mishandling of an employee benefit plan. If you sponsor a retirement or health plan, check who is insured and whether both administration errors and fiduciary-breach claims are addressed. 9,10,11
Key Differences in Fiduciary Liability Insurance
A risk-modeling broker versus a bundled carrier policy
Gallagher places fiduciary liability with outside carriers and uses proprietary models to help measure risk and select limits. Liberty Mutual includes the line in its ProShield management-liability package. A plan sponsor should compare Gallagher’s proposed limit rationale with the amount available after any shared ProShield aggregate is allocated. 3 8
Who and what the described coverage protects
Gallagher describes protection for ERISA fiduciaries, committees, and personnel designing or implementing retirement plans; Liberty Mutual describes fiduciaries, plans, and sponsors more generally, with exact terms set by the policy. Match the insured people and plan functions in each quote. 3 8
What to Confirm in Fiduciary Liability Insurance Quotes
Review Scores
These averages can combine ratings for different products, locations, and customer groups, including approximate BBB grade conversions. Read each review for the sources, scope, and calculation.
Gallagher
Review Score
3 rated sources
Gallagher has strong Trustpilot feedback and a favorable historical large-commercial survey result. Neither directly measures today’s US small-business service.[2][4][6]
Read Gallagher reviewsLiberty Mutual
Review Score
2 rated sources
Customers give Liberty Mutual 4.2 out of 5 on Trustpilot from 3,836 reviews, but that page mixes auto, home and life customers with business ones. For business insurance specifically, NerdWallet gives 3.0 out of 5 and reports more complaints than expected.[4][1]
Read Liberty Mutual reviewsOffering Details
Gallagher vs Liberty Mutual: Fiduciary Liability Insurance: documented features by provider
| Criteria | Gallagher Fiduciary Liability Insurance | Liberty Mutual ProShield Fiduciary Liability |
|---|---|---|
| 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. 3Company-reported. Group-level executive-and-financial-risk practice page. | Liberty Mutual includes fiduciary liability in its ProShield management-liability package. 8Company-reported. Liberty Mutual’s cited product or program overview documents this description. It does not establish the issuing insurer for an individual quote, exact state or provincial availability, the policy form, complete exclusions, or terms offered to a particular buyer; confirm those in the quote and policy documents. |
| Issuing Insurer | The executive-and-financial-risk page does not name the insurer that would issue a given client's fiduciary liability policy. 3Not publicly disclosed. Checked the group-level executive-and-financial-risk practice page. | Confirm in your quote. |
| 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. 3Company-reported. Group-level executive-and-financial-risk practice page. | The source scopes ProShield to private and not-for-profit organizations; it does not establish eligibility for a particular plan or sponsor. 8Company-reported. Liberty Mutual’s cited product or program overview documents this description. It does not establish the issuing insurer for an individual quote, exact state or provincial availability, the policy form, complete exclusions, or terms offered to a particular buyer; confirm those in the quote and policy documents. |
| 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. 3Company-reported. Group-level executive-and-financial-risk practice page; a service description, not a specific policy's insuring agreement or exclusions. | The page describes protection for fiduciaries, benefit plans and sponsors against fiduciary-duty exposures and lists selected defense-cost and compliance features; the policy form determines terms. 8Company-reported. Liberty Mutual’s cited product or program overview documents this description. It does not establish the issuing insurer for an individual quote, exact state or provincial availability, the policy form, complete exclusions, or terms offered to a particular buyer; confirm those in the quote and policy documents. |
| Limits and Retentions | The page does not publish specific fiduciary liability limits or premium ranges beyond describing its proprietary limit-selection models. 3Not publicly disclosed. Checked the group-level executive-and-financial-risk practice page. | The cited public overview does not establish the limits, deductibles, exclusions or form terms that would apply to a specific buyer. 8Not publicly disclosed. Ask for the quote and specimen or issued policy forms before treating a listed feature as covered. |
| Risk Services | Gallagher says it has proprietary models to measure fiduciary risk and assist clients in selecting coverage limits. 3Company-reported. Group-level executive-and-financial-risk practice page. | Liberty Mutual describes ProShield as one package policy that combines multiple management-liability coverages and is designed to reduce the need for separate endorsements. 8Company-reported. Liberty Mutual’s cited product or program overview documents this description. It does not establish the issuing insurer for an individual quote, exact state or provincial availability, the policy form, complete exclusions, or terms offered to a particular buyer; confirm those in the quote and policy documents. |
Full Comparison
More Gallagher vs Liberty Mutual Comparisons
Other Fiduciary Liability Insurance Comparisons
Sources
Gallagher
- 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.
- Insurance for Technology & IT Businesses. 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.
- Executive and Financial Risk Insurance. Gallagher; Fiduciary Liability (Pension and Welfare Liability) insurance section. Accessed 2026-09-23.
- Legal Information. Gallagher Small Business; Producer identification immediately above Quick Links. Accessed 2026-09-16.
- Woodruff Sawyer Is Now Gallagher. Gallagher; Opening; Executive and Financial Risk consulting; Continued access to client portals; contact form. Accessed 2026-09-16.
Liberty Mutual
- Company Profile. Liberty Mutual Group; Strategic business units paragraph: US Retail Markets (individuals/small businesses; small commercial; countrywide) and Global Risk Solutions (mid-size/large businesses; commercial, specialty, reinsurance, surety; worldwide). Accessed 2026-09-29.
- Commercial Insurance Solutions. Liberty Mutual Business Insurance; Commercial solutions index names commercial auto and fleet, cyber, environmental liability, equipment breakdown, excess and surplus, general liability, healthcare liability, inland marine, management liability, multinational, ocean marine, professional liability, property, reinsurance, surety, umbrella/excess and workers compensation. Disclosure says policy insurer is named when offered, may be an affiliate/subsidiary or surplus-lines insurer; states/jurisdictions and actual policy terms vary. Accessed 2026-09-29.
- ProShield. Liberty Mutual Business Insurance; Opening paragraphs identify package combining directors and officers, employment practices, fiduciary, and crime coverages; D&O and crime sections describe examples of exposures and selected coverage features. Examples are not policy terms. Accessed 2026-09-29.
Fiduciary Liability Insurance Guide
- Field Assistance Bulletin No. 2008-04: Guidance Regarding ERISA Fidelity Bonding Requirements. U.S. Department of Labor, Employee Benefits Security Administration; Q2 pp.2–3. Accessed 2026-09-16.
- Fiduciary Liability. Travelers Casualty and Surety Company of America; II.D,J–L pp.2–3; II.A p.1; II.V p.5; Header p.1; II.M p.3; I p.1; III.A.6–8 pp.5–6; II.M.2 p.3; III.B.1 p.6. Accessed 2026-09-16.
- Fiduciary Liability Insurance. Travelers; What Is Fiduciary Liability Insurance? Accessed 2026-09-16.
