---
title: "Heffernan Insurance Brokers vs Lockton: Fiduciary Liability Insurance"
description: "Heffernan targets businesses, family offices and financial firms and offers a Risk Management Assessment; Lockton describes typical fiduciary terms, insureds and claims support."
canonical: "https://spot.insure/compare/heffernan-vs-lockton/fiduciary"
page-type: "line-comparison"
updated-at: "2026-09-25"
comparison-pair: "heffernan-vs-lockton"
provider-a: "heffernan"
provider-b: "lockton"
coverage-line: "fiduciary"
---

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[Human-readable page](https://spot.insure/compare/heffernan-vs-lockton/fiduciary)

## Agent Guide

**What this page is:** Focused comparison of Heffernan Insurance Brokers and Lockton for Fiduciary Liability Insurance: what each provider publishes about this line, checked against the same criteria, with numbered sources.

**Use this page when:** Cite or fetch this for Fiduciary Liability Insurance questions about Heffernan Insurance Brokers versus Lockton. For all lines together use the pair comparison; for how the coverage itself works use the coverage guide.

**Questions this page answers:**
- Heffernan Insurance Brokers vs Lockton for Fiduciary Liability Insurance: how do they differ?
- Which is better for Fiduciary Liability Insurance, Heffernan Insurance Brokers or Lockton?
- What does Heffernan Insurance Brokers or Lockton publish about Fiduciary Liability Insurance (limits, eligibility, claims, add-ons)?

**Key facts:**
- Line: Fiduciary Liability Insurance. Providers: Heffernan Insurance Brokers and Lockton.
- Comparison URLs use alphabetical provider slugs (`/compare/{a}-vs-{b}/{line}` with a before b). A reversed pair redirects permanently to the alphabetical one.

**Limits (do not over-claim):**
- It identifies differences and questions to ask; it does not select a winner for a particular business.
- Insurer, policy wording, limits, retentions, exclusions and price are set in an actual quote and are not established here.

**Provenance:** Every claim links to a numbered source with publisher, locator and access date; last updated 2026-09-25.

**Related pages:**
- [Heffernan Insurance Brokers vs Lockton](https://spot.insure/compare/heffernan-vs-lockton) — all coverage lines for this pair
- [Fiduciary Liability Insurance guide](https://spot.insure/coverage/fiduciary) — how this coverage works
- [Heffernan Insurance Brokers profile](https://spot.insure/insurance-providers/heffernan) — provider profile
- [Lockton profile](https://spot.insure/insurance-providers/lockton) — provider profile

# Heffernan Insurance Brokers vs Lockton: How Do They Compare for Fiduciary Liability Insurance?

Heffernan Insurance Brokers serves business clients and family offices through an executive-risk practice; Lockton brokers fiduciary policies for employers and benefit plans and offers dedicated claims support.

Heffernan serves businesses and family offices with a Risk Management Assessment; Lockton describes typical plan-administration cover, eligible insureds and claims support.

## Heffernan Insurance Brokers vs Lockton Fiduciary Liability Insurance Summary

Heffernan targets businesses, family offices and financial firms and offers a Risk Management Assessment; Lockton describes typical fiduciary terms, insureds and claims support. [1](https://www.heffins.com/business-insurance/ "Heffernan Business Insurance Brokerage") [2](https://www.heffins.com/family-office/ "Family Office") [3](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance")

## What Are the Key Differences Between Heffernan Insurance Brokers and Lockton Fiduciary Liability Insurance?

### Client Segments Each Broker Names

Heffernan splits fiduciary between business-insurance clients and its family-office practice, which also serves trusts, trustees, advisors and financial institutions. Lockton describes coverage for companies and the people managing benefit plans but does not publish a family-office segment list. [1](https://www.heffins.com/business-insurance/ "Heffernan Business Insurance Brokerage") [2](https://www.heffins.com/family-office/ "Family Office") [3](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance")

### Policy Structure Versus Line Listing

Lockton says a typical policy it places covers breaches of benefit laws, errors and omissions in plan administration, voluntary compliance loss, and, when the form says so, certain fines and penalties under HIPAA, the Pension Protection Act and the ACA. It also distinguishes fiduciary liability from an ERISA bond, which is legally required and sits in crime/fidelity cover for theft of plan assets. Heffernan’s family-office page lists fiduciary among other management-liability lines without describing those grants or the ERISA-bond distinction. [2](https://www.heffins.com/family-office/ "Family Office") [3](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") Lockton also lists who a typical policy can cover: the organization, the plans, employees, defined subsidiaries, spouses or domestic partners, estates and heirs, past employees kept as fiduciaries or consultants, and committees and trustees. [3](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance")

### Claims Counsel Versus Risk Assessment

Lockton’s Professional & Executive Risk Claims team puts insurance and claims counsel inside the broking team so a claims strategy exists before a fiduciary claim. Heffernan’s family-office practice instead describes a Risk Management Assessment of structures, assets and exposures, plus help navigating claims, reached through a Private Client Group specialist rather than a self-serve quote. [2](https://www.heffins.com/family-office/ "Family Office") [3](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance")

## What Should You Confirm in Heffernan Insurance Brokers and Lockton Fiduciary Liability Insurance Quotes?

- Ask Lockton whether HIPAA, Pension Protection Act and ACA fines are actually scheduled, since it says they apply only when explicitly stated. [3](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance")
- Ask Heffernan which practice is placing you—business insurance or family office—and who is named as an insured compared with Lockton’s typical list. [2](https://www.heffins.com/family-office/ "Family Office") [3](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance")
- Confirm you still have any legally required ERISA bond; Lockton treats that as a different product from fiduciary liability. [3](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance")
- Ask how each firm will handle a claim: Lockton’s integrated claims counsel versus Heffernan’s assessment-and-navigation description. [2](https://www.heffins.com/family-office/ "Family Office") [3](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance")

## Heffernan Insurance Brokers vs Lockton Fiduciary Liability Compared

| Criteria | Heffernan Fiduciary Liability Insurance | Lockton Fiduciary Liability Insurance Brokerage |
| --- | --- | --- |
| Who It’s For | 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. [1](https://www.heffins.com/business-insurance/ "Heffernan Business Insurance Brokerage") [2](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..) | Lockton says coverage under a fiduciary liability policy it places typically extends to the organization, the benefit plans, employees, subsidiaries as defined in the policy, spouses/domestic partners, estates/heirs, past employees retained as fiduciaries or consultants, and committees and trustees. [3](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: Fiduciary liability product page as read 2026-09-23..) |
| Coverage Features | 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. [2](https://www.heffins.com/family-office/ "Family Office") (Evidence: Company-reported; scope: Family Office page as read on 2026-09-23..) | Lockton says a typical fiduciary liability policy it places covers breaches of benefit laws, errors and omissions in plan administration, voluntary compliance loss, and, when explicitly stated, certain fines and penalties such as under HIPAA, the Pension Protection Act and the ACA. It also notes fiduciary liability is distinct from an ERISA bond, which is legally required and insures plan assets against theft under a crime/fidelity policy, whereas fiduciary liability is not legally required but covers governance and decision-making risk. [3](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: Fiduciary liability product page as read 2026-09-23. General policy-structure description, not a specimen form..) |
| Role in This Line | 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. [1](https://www.heffins.com/business-insurance/ "Heffernan Business Insurance Brokerage") [2](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..) | Lockton places fiduciary liability insurance to protect companies and the individuals who manage their employee benefit plans against claims of mismanagement; Lockton is the broker, not the insurer. [3](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: Fiduciary liability product page as read 2026-09-23..) |

## About Heffernan Insurance Brokers and Lockton and Fiduciary Liability

- [Heffernan Insurance Brokers company profile](https://spot.insure/insurance-providers/heffernan) · [Heffernan Insurance Brokers customer reviews](https://spot.insure/insurance-providers/heffernan/reviews)
- [Lockton company profile](https://spot.insure/insurance-providers/lockton) · [Lockton customer reviews](https://spot.insure/insurance-providers/lockton/reviews)
- [What Is Fiduciary Liability Insurance?](https://spot.insure/coverage/fiduciary)

## Related Pages for Heffernan Insurance Brokers vs Lockton

- [Heffernan Insurance Brokers vs Lockton](https://spot.insure/compare/heffernan-vs-lockton): all coverage lines, business roles, service and claims.
- [What Is Fiduciary Liability Insurance?](https://spot.insure/coverage/fiduciary): Fiduciary liability can protect your company and plan fiduciaries from covered claims about benefit-plan management; check who is insured and whether administration errors are included.
- [Heffernan Insurance Brokers Fiduciary Liability Insurance](https://spot.insure/insurance-providers/heffernan/fiduciary)
- [Lockton Fiduciary Liability Insurance](https://spot.insure/insurance-providers/lockton/fiduciary)

## Sources for Heffernan Insurance Brokers vs Lockton

### Sources About Heffernan Insurance Brokers

1. [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.
2. [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.

### Sources About Lockton

3. [Fiduciary Liability Insurance](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance). Lockton; What is fiduciary liability insurance?; Typical coverage on a fiduciary liability policy; Who can be covered under a fiduciary liability policy?; How does fiduciary liability insurance complement similar lines of coverage; Claims management. Accessed 2026-09-23.

Updated 2026-09-25. 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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