Gallagher vs THREE by Berkshire Hathaway: How Do They Compare for 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.

THREE presents Fiduciary Liability as a component of its combined Business Owners Policy rather than identifying it as a separate standalone policy on the reviewed product page. ⁸Company-reported. Company-described U.S. package structure. The page does not establish underwriting terms or that every listed category will be included for every applicant.

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 linked sample policy's declarations identify Berkshire Hathaway Direct Insurance Company as issuer. ⁷Company-reported. This is the issuer named on the public sample only; the sample does not establish the issuing entity for every state-specific quote or buyer's issued policy.

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 reviewed product page does not state separate eligibility rules for Fiduciary Liability; the general quote and advisor route is not proof that a particular business qualifies for it. ^8,6Not publicly disclosed. Eligibility and state availability remain unestablished for an individual risk until THREE returns its quote and applicable forms.

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.

THREE's Business Owners Policy page lists Fiduciary Liability among its marketed coverage categories in the combined policy. This describes the product page, not whether the category appears in a particular quote or responds to a loss. ^8,7Company-reported. Official THREE package marketing for Fiduciary Liability. The sample policy is state-selectable and does not establish that this item is included in every quote or issued policy.

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 reviewed public product page does not state a separate limit or deductible for Fiduciary Liability; THREE says the quote-specific insurance summary lists limits and deductibles. ^8,7Not publicly disclosed. No number is inferred from the sample policy. The quote and issued declarations control the buyer-specific limit and deductible.

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.

Confirm in your quote.

Confirm in your quote.

THREE directs small-business prospects to an online quote and says licensed Small Business Advisors can help with the process. ⁶Company-reported. This is the route for the overall THREE product. It does not show whether Fiduciary Liability will be offered for a particular business or whether a customer can bind that line without an issued policy.