Heffernan Insurance Brokers vs 
Marsh McLennan Agency: How Do They Compare for Fiduciary Liability Insurance?
Heffernan Insurance Brokers presents fiduciary liability to general business clients and to family offices, trust companies, trustees, financial advisers, private-equity firms, and foundations; Marsh McLennan Agency names fiduciary liability in its executive-liability suite and invites adviser contact, without describing a parallel risk assessment on the cited page. 4,7
What Is Heffernan Insurance Brokers?
Heffernan’s technology practice targets mid- and late-stage, venture-funded and pre-IPO companies; early-stage firms seeking a direct online quote should compare digital providers. It also offers claims consulting and workers’ compensation support. 1,2,3
Read the Heffernan Insurance Brokers profile
Read the Heffernan Insurance Brokers Fiduciary Liability Insurance page
What Is Marsh McLennan Agency?
Marsh McLennan Agency provides business insurance and employee health and benefits, alongside retirement, wealth, and private-client services across the United States and Canada. Its US small-business page lists six common coverage types and directs buyers to request a personalized quote by phone; the insurer and terms for a specific placement must be confirmed in the proposal. 5,6
Read the Marsh McLennan Agency profile
Read the Marsh McLennan Agency Fiduciary Liability Insurance page
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. 8,9,10
Key Differences in Fiduciary Liability Insurance
Coverage Scope and Plan Details
Heffernan Insurance Brokers presents fiduciary liability to general business clients and to family offices, trust companies, trustees, financial advisers, private-equity firms, and foundations. Its family-office practice describes a risk assessment that maps structures, assets, and exposures, then supports coverage-gap and claims work. Marsh McLennan Agency names fiduciary liability in its executive-liability suite and invites adviser contact, without describing a parallel risk assessment on the cited page. A complex trust or investment structure makes the service scope worth confirming before comparing premiums. 4 7
Placement and Buyer Questions
Heffernan Insurance Brokers lists fiduciary as an arranged line but does not describe its policy insuring agreement or exclusions on the family-office page. Marsh McLennan Agency’s overview likewise does not provide plan-specific grants. Both quotes should therefore be checked against the particular plans, fiduciaries, and advisory roles involved. 4 7
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.
Heffernan Insurance Brokers
Review Score
1 rated source
Heffernan’s available review sample is small and local, with a low Google rating for one office. Check the team that would actually serve your business.[6][7][8]
Read Heffernan Insurance Brokers reviewsMarsh McLennan Agency
Review Score
2 rated sources
There are almost no public customer reviews of Marsh McLennan Agency (MMA). Trustpilot shows 3.2 out of 5, but from a single review, and BBB shows an A grade with four complaints closed in three years.[8][9][1]
Read Marsh McLennan Agency reviewsOffering Details
Heffernan Insurance Brokers vs Marsh McLennan Agency: Fiduciary Liability Insurance: documented features by provider
| Criteria | Heffernan Fiduciary Liability Insurance | Marsh McLennan Agency fiduciary (official overview) |
|---|---|---|
| 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. 3,4Company-reported. Business Insurance and Family Office page listings; no dedicated fiduciary-liability product page was found. | Marsh McLennan Agency describes arranging fiduciary for the audience stated on the cited product page. 7Company-reported. fiduciary marketed by marsh-mclennan-agency; scope is limited to the cited official product overview and described audience. This is not a policy form or a universal eligibility statement. |
| Issuing Insurer | The reviewed pages do not name the insurer or insurers that issue fiduciary liability policies Heffernan places for either business clients or family offices. 3,4Not publicly disclosed. Business Insurance and Family Office pages as read on 2026-09-23. | Confirm in your quote. |
| 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. 3,4Company-reported. Direct practice-page listings; no minimum size or asset-under-management threshold was published for the coverage specifically. | Organizations seeking executive liability solutions; source does not define plan-specific eligibility. 7Company-reported. fiduciary marketed by marsh-mclennan-agency; scope is limited to the cited official product overview and described audience. This is not a policy form or a universal eligibility statement. |
| 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. 4Company-reported. Family Office page as read on 2026-09-23. | The cited product page describes fiduciary liability as a named product in the executive and professional liability suite; the overview does not state plan-specific grants. Marketing description only; actual coverage, exclusions, conditions, limits, and availability depend on the issued policy and jurisdiction. 7Company-reported. fiduciary marketed by marsh-mclennan-agency; scope is limited to the cited official product overview and described audience. This is not a policy form or a universal eligibility statement. |
| Limits and Retentions | Neither page publishes a fiduciary-liability limit, retention, or premium range. 3,4Not found in reviewed sources. Business Insurance and Family Office pages as read on 2026-09-23. | The cited overview does not set a universal limit or retention for this line. Ask for the proposed policy form, limits, retentions, exclusions, and conditions in the quote. 7Not publicly disclosed. Only the cited marketing page was reviewed for published limit and retention information; no policy-form entitlement is inferred. |
| Risk Services | Heffernan's family-office practice describes a Risk Management Assessment: itemizing a client's structures, assets, and exposures; crafting insurance and risk-management strategies to close coverage gaps; and helping navigate claims, for its fiduciary and financial-institution client base. 4Company-reported. Family Office page as read on 2026-09-23; a company-described service, not a measured outcome. | Confirm in your quote. |
| How to Apply | The family-office practice's fiduciary-liability coverage is reached through a named Private Client Group specialist contact rather than a self-service online quote flow. 4Company-reported. Family Office page as read on 2026-09-23; the general business-insurance page's fiduciary listing routes through Heffernan's general Contact Us form instead. | The page invites organizations to contact a Marsh McLennan Agency adviser or specialist to discuss placement. The page does not establish a quote, bind, or coverage-effective timeline. 7Company-reported. fiduciary marketed by marsh-mclennan-agency; scope is limited to the cited official product overview and described audience. This is not a policy form or a universal eligibility statement. |
Full Comparison
More Heffernan Insurance Brokers vs Marsh McLennan Agency Comparisons
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Sources
Heffernan Insurance Brokers
- Our Story. Heffernan Insurance Brokers; Headquartered in Walnut Creek; nationwide presence; founded 1988; employee owned; niche practices including technology. Accessed 2026-09-16.
- Technology Company Insurance. Heffernan Insurance Brokers; Pre-IPO and venture-funded heading; mid to late stage specialization; global expansion copy; self-insurance strategies; Key Markets list; Why Heffernan broker history; Joseph Talmadge practice leader; FAQ. Accessed 2026-09-16.
- Heffernan Business Insurance Brokerage. 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.
- 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.
Marsh McLennan Agency
- Who We Are. Marsh McLennan Agency; Lines 193-195: ‘a business of Marsh’ and company-listed service lines across US and Canada. This does not establish the legal entity for an account, corporate ownership chart, or insurer role. Accessed 2026-09-29.
- Small Business Insurance Solutions. Marsh McLennan Agency; Lines 205-207: small-business audience and call invitation; lines 224-249 list six coverage categories and short descriptions; line 264 is an embedded form whose function is not stated. No form submitted. Accessed 2026-09-29.
- Executive and Professional Liability | MMA. Marsh McLennan Agency; Named within the executive and professional liability product suite. Accessed 2026-09-30.
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.
