Gallagher vs Marsh Fiduciary Liability Insurance

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.

Marsh's FINPRO (financial and professional) practice places fiduciary liability insurance for retirement plan sponsors and fiduciaries; MMA also lists fiduciary coverage within its executive and professional liability practice. ^10,11Company-reported. Marsh fiduciary liability page and MMA executive and professional liability page.

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.

The reviewed pages do not name a specific fiduciary liability insurer. Marsh describes its own role as advising on limit assessment and carrier selection, implying the issuing insurer depends on the placement. ¹⁰Not publicly disclosed. Fiduciary liability page as read on 2026-09-23.

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.

Marsh says a fiduciary liability policy typically insures the sponsor organization, the benefit plans it operates, and plan fiduciaries who are directors, officers or employees of the plan sponsor. ¹⁰Company-reported. Fiduciary liability page, Who is covered? FAQ.

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.

Marsh says a fiduciary liability policy typically covers defense costs, damages, judgments and settlements from a fiduciary's breach of duty or from negligence, errors or omissions in administering a benefit plan, but does not cover contractual liability, so it cannot guarantee a plan's obligation to pay benefits due. ¹⁰Company-reported. Fiduciary liability page FAQs; illustrative policy description, not a specific policy form.

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.

Not described in the reviewed sources.

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.

Marsh says its FINPRO practice helps clients identify red flags in fiduciary controls, builds fiduciary liability programs from limit assessment to carrier selection, and provides claims advocacy to help resolve claims from the outset. ¹⁰Company-reported. Fiduciary liability page, Why Marsh section.

Not described in the reviewed sources.

Marsh describes its claims advocates as helping clients resolve fiduciary liability claims from the onset, without publishing outcome statistics for this line. ¹⁰Company-reported. Fiduciary liability page, Why Marsh section.