---
title: "Gallagher vs Travelers Fiduciary Liability Insurance"
description: "Gallagher places ERISA fiduciary coverage and models limits; Travelers underwrites the line through Travelers Casualty and Surety Company of America affiliates."
canonical: "https://spot.insure/compare/gallagher-vs-travelers/fiduciary"
page-type: "line-comparison"
updated-at: "2026-09-23"
---

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# Gallagher vs Travelers Fiduciary Liability Insurance

Gallagher places ERISA fiduciary coverage and models limits; Travelers underwrites the line through Travelers Casualty and Surety Company of America affiliates.

## Research Scope and Use

Use this comparison to evaluate Gallagher and Travelers 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 brokers fiduciary liability for corporate ERISA plan sponsors and uses proprietary models to help select limits. Travelers underwrites fiduciary liability in its Management & Professional Liability line, naming Travelers Casualty and Surety Company of America and affiliates as possible issuers. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [9](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance")

## 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 Travelers Insurance?

Travelers is a U.S. property-casualty insurance group that markets business coverage, including a technology practice, through independent agents and brokers. Buyers can investigate CyberRisk Tech, a small-business technology-services policy, and other commercial lines, then confirm the issuing company and California availability on a quote. [6](https://www.travelers.com/business-insurance/technology "Technology Insurance") [7](https://www.travelers.com/about-travelers/producer-compensation-disclosure "Travelers Producer Compensation Disclosure (United States)") [8](https://www.travelers.com/contact-us "Contact Us")

[Travelers profile](https://spot.insure/insurance-providers/travelers)

## 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

### Who Issues the Policy

Gallagher places fiduciary liability with outside carriers and does not underwrite it; its executive-risk page does not name those carriers. Travelers underwrites the coverage as part of Management & Professional Liability, sold standalone or with other management-liability coverages, and the product-page video names Travelers Casualty and Surety Company of America and property-casualty affiliates, with the issuing entity able to vary. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [9](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance")

### How Each Describes the Covered Risk

Gallagher focuses on a corporation’s ERISA fiduciaries, committees and personnel who design or implement 401(k) or pension plans. Travelers says the coverage protects companies and individuals who manage a company-sponsored retirement or health plan from mismanagement claims and personal liability for ERISA breach of fiduciary duty, including litigation costs and errors or omissions in plan administration. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [9](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance")

### Audience and Buying Path

Gallagher aims the practice at corporations sponsoring retirement or welfare plans and offers proprietary models to size limits. Travelers markets the product to financial institutions, nonprofits, private companies and public companies, and it is bought through a Travelers independent agent rather than through Gallagher’s limit-modeling advisory. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [9](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance")

Neither reviewed source publishes a fiduciary limit or retention as a product term. Travelers cites industry claim-cost examples as risk context, not as offered limits. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [9](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance")

## What to Confirm in Fiduciary Liability Insurance Quotes

- Get the issuing company: unnamed on Gallagher’s page; Travelers Casualty and Surety Company of America or an affiliate on Travelers’ disclosure. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [9](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance")
- Ask Gallagher what limit its model supports; ask the Travelers agent for actual limits and retentions, which the product page does not list. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [9](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance")
- Confirm whether health-plan administration is on both forms; Travelers names retirement and health plans, while Gallagher’s published description centers on 401(k) and pension design. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [9](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance")
- Ask whether personal ERISA liability for individuals is scheduled as Travelers describes, and how Gallagher’s placed form treats individual insureds. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [9](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance")

## Offering Details

| Criteria | Gallagher Fiduciary Liability Insurance | Travelers 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..) | Travelers underwrites fiduciary liability insurance as part of its Management & Professional Liability line, sold standalone or alongside other management liability coverages. [9](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: Product page general framing; confirmed against the broader Management and Professional Liability Insurance page..) |
| 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 product page's video disclosure names Travelers Casualty and Surety Company of America and its property casualty affiliates; the specific issuing entity for a given policy can vary. [9](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: Product page video legal footer..) |
| 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..) | Travelers markets fiduciary liability coverage to financial institutions, nonprofit organizations, private companies and public companies. [9](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: Product page "Who is fiduciary liability insurance right for?" section..) |
| 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..) | Travelers says fiduciary liability coverage protects companies and individuals who manage a company-sponsored retirement or health plan from claims of mismanagement and personal liability for breach of fiduciary duty under ERISA, including litigation costs and errors or omissions in plan administration. [9](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: Product page "What Is Fiduciary Liability Insurance?" and "What does fiduciary liability insurance cover?" sections; exact terms and exclusions are set by the issued policy..) |
| 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..) | The reviewed page does not publish fiduciary liability limits, retentions or premiums; it cites industry claim examples (settlements and defense costs from roughly $1 million to $14 million, and an average ERISA case cost topping $1.2 million) as general risk context, not as policy terms. [9](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance") (Evidence: Not found in reviewed sources; scope: Product page video claim scenarios and cost statistics 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..) | Not described in the reviewed sources. |
| How to Apply | Not described in the reviewed sources. | Fiduciary liability coverage is bought through a Travelers independent agent. [9](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: Product page "Find an insurance agent" call to action..) |

## Full Comparison

- [Gallagher vs Travelers](https://spot.insure/compare/gallagher-vs-travelers): 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 Travelers Business Owner’s Policy](https://spot.insure/compare/gallagher-vs-travelers/business-owners-policy)
- [Gallagher vs Travelers Commercial Auto Insurance](https://spot.insure/compare/gallagher-vs-travelers/commercial-auto)
- [Gallagher vs Travelers Commercial Property Insurance](https://spot.insure/compare/gallagher-vs-travelers/commercial-property)
- [Gallagher vs Travelers Crime Insurance](https://spot.insure/compare/gallagher-vs-travelers/crime)
- [Gallagher vs Travelers Cyber Insurance](https://spot.insure/compare/gallagher-vs-travelers/cyber)
- [Gallagher vs Travelers D&O Insurance](https://spot.insure/compare/gallagher-vs-travelers/directors-officers)
- [Gallagher vs Travelers Employment Practices Liability Insurance](https://spot.insure/compare/gallagher-vs-travelers/employment-practices)
- [Gallagher vs Travelers Fidelity Bonds](https://spot.insure/compare/gallagher-vs-travelers/fidelity-bonds)
- [Gallagher vs Travelers General Liability Insurance](https://spot.insure/compare/gallagher-vs-travelers/general-liability)
- [Gallagher vs Travelers Kidnap and Ransom Insurance](https://spot.insure/compare/gallagher-vs-travelers/kidnap-ransom)
- [Gallagher vs Travelers Professional Liability (E&O) Insurance](https://spot.insure/compare/gallagher-vs-travelers/professional-errors-omissions)
- [Gallagher vs Travelers Surety Bonds](https://spot.insure/compare/gallagher-vs-travelers/surety-bonds)
- [Gallagher vs Travelers Tech E&O Insurance](https://spot.insure/compare/gallagher-vs-travelers/technology-errors-omissions)
- [Gallagher vs Travelers Umbrella and Excess Liability Insurance](https://spot.insure/compare/gallagher-vs-travelers/umbrella-excess)
- [Gallagher vs Travelers Workers’ Compensation Insurance](https://spot.insure/compare/gallagher-vs-travelers/workers-compensation)
- [Alliance Risk vs Gallagher Fiduciary Liability Insurance](https://spot.insure/compare/alliance-risk-vs-gallagher/fiduciary)
- [Alliance Risk vs Travelers Fiduciary Liability Insurance](https://spot.insure/compare/alliance-risk-vs-travelers/fiduciary)
- [Beazley vs Gallagher Fiduciary Liability Insurance](https://spot.insure/compare/beazley-vs-gallagher/fiduciary)
- [Beazley vs Travelers Fiduciary Liability Insurance](https://spot.insure/compare/beazley-vs-travelers/fiduciary)
- [Chubb vs Gallagher Fiduciary Liability Insurance](https://spot.insure/compare/chubb-vs-gallagher/fiduciary)
- [Chubb vs Travelers Fiduciary Liability Insurance](https://spot.insure/compare/chubb-vs-travelers/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.

### Travelers

6. [Technology Insurance](https://www.travelers.com/business-insurance/technology). Travelers; Technology insurance products we offer: CyberRisk Tech, Global Companion Plus+, general liability, commercial property, workers compensation, commercial auto, umbrella; startup-to-established-leader audience. Accessed 2026-09-16.
7. [Travelers Producer Compensation Disclosure (United States)](https://www.travelers.com/about-travelers/producer-compensation-disclosure). Travelers; Independent producers; seven compensation types; Simply Business, Inc. and InsuraMatch, LLC ownership; The Travelers Indemnity Company footer; Northfield Excess & Surplus Lines product list. Accessed 2026-09-16.
8. [Contact Us](https://www.travelers.com/contact-us). Travelers; Business insurance sold through independent agents; business claims 1.800.238.6225; MyTravelers for business features. Accessed 2026-09-16.
9. [Fiduciary Liability Insurance](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability). Travelers; What Is Fiduciary Liability Insurance?; What does fiduciary liability insurance cover?; Who is fiduciary liability insurance right for?; video legal footer naming Travelers Casualty and Surety Company of America. 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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