Heffernan Insurance Brokers vs 
Travelers: How Do They Compare for Fiduciary Liability Insurance?
Heffernan Insurance Brokers places fiduciary coverage through business and family-office practices; Travelers underwrites it within Management & Professional Liability and distributes it through independent agents.
Heffernan serves family offices, trusts and business clients; Travelers sells fiduciary through independent agents to financial institutions, nonprofits and public and private companies. 1,2,3
What Are the Key Differences Between Heffernan Insurance Brokers and Travelers Fiduciary Liability Insurance?
Broker Markets Versus Named Travelers Issuer
Heffernan places fiduciary for business clients and family offices through its brokerage. Travelers sells Management & Professional Liability through independent agents, either standalone or alongside other management coverages. 1 3
Family-Office and Trustee Clients Versus Institution, Nonprofit and Company Buyers
Heffernan lists family offices, trust companies, trustees, advisors, private equity, foundations and financial institutions, plus general business clients. Travelers markets fiduciary liability to financial institutions, nonprofit organizations, private companies and public companies. 2 3
Travelers describes protection from mismanagement claims and personal liability for ERISA breach of fiduciary duty, including litigation costs and plan-administration errors. Heffernan’s family-office page lists the line without that ERISA personal-liability description. 2 3
Private Client Contact Versus Independent Agent
Family-office fiduciary at Heffernan is reached through a Private Client Group specialist, with a Risk Management Assessment of structures, assets and exposures. Travelers coverage is bought through a Travelers independent agent using a find-an-agent call to action. 2 3 Neither reviewed source publishes a fiduciary limit as a product term. Travelers cites industry settlement and defense-cost examples as context only. 2 3
What Should You Confirm in Heffernan Insurance Brokers and Travelers Fiduciary Liability Insurance Quotes?
- Ask whether Heffernan can place a Travelers form or is shopping other markets. 1 3
- Confirm the Travelers issuing company on the declarations. 3
- Ask how individual ERISA personal liability is treated for trustees Heffernan names versus Travelers’ individual insureds. 2 3
- Get limits and retentions from both quotes; public pages do not list them. 2 3
Heffernan Insurance Brokers vs Travelers Fiduciary Liability Compared
Heffernan Insurance Brokers vs Travelers: Fiduciary Liability Insurance: documented features by provider
| Criteria | Heffernan Fiduciary Liability Insurance | Travelers Fiduciary Liability Insurance |
|---|---|---|
| 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. 1,2Company-reported. Direct practice-page listings; no minimum size or asset-under-management threshold was published for the coverage specifically. | Travelers markets fiduciary liability coverage to financial institutions, nonprofit organizations, private companies and public companies. 3Company-reported. Product page "Who is fiduciary liability insurance right for?" section. |
| 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. 2Company-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. | Fiduciary liability coverage is bought through a Travelers independent agent. 3Company-reported. Product page "Find an insurance agent" call to action. |
| 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. 2Company-reported. Family Office page as read on 2026-09-23. | 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. 3Company-reported. 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. |
| 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. 1,2Company-reported. Business Insurance and Family Office page listings; no dedicated fiduciary-liability product page was found. | Travelers underwrites fiduciary liability insurance as part of its Management & Professional Liability line, sold standalone or alongside other management liability coverages. 3Company-reported. Product page general framing; confirmed against the broader Management and Professional Liability Insurance page. |
