Heffernan Insurance Brokers vs 
Travelers Fiduciary Liability Insurance
Heffernan brokers fiduciary for family offices and businesses; Travelers underwrites ERISA personal-liability cover through independent agents.
What Is Heffernan Insurance Brokers?
Heffernan Insurance Brokers is an independent, Walnut Creek–headquartered retail brokerage that arranges business insurance, employee benefits, and related services. Its technology practice markets to mid- and late-stage companies, including venture-funded and pre-IPO firms. 1,2,3
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. 5,6,7
What Is Fiduciary Liability Insurance?
Fiduciary liability insurance addresses covered claims alleging breaches of duties in managing employee benefit plans. 9,10
Key Differences in Fiduciary Liability Insurance
Broker Markets Versus Named Travelers Issuer
Heffernan places fiduciary liability with insurers it does not name on the reviewed pages. Travelers underwrites the product in Management & Professional Liability, standalone or with other management-liability coverages, and the video disclosure names Travelers Casualty and Surety Company of America and property-casualty affiliates, with the issuing entity able to vary. 3 8
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. 4 8
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. 4 8
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. 4 8
Neither reviewed source publishes a fiduciary limit as a product term. Travelers cites industry settlement and defense-cost examples as context only. 4 8
What to Confirm in Fiduciary Liability Insurance Quotes
- Ask whether Heffernan can place a Travelers form or is shopping other markets. 3 8
- Confirm the Travelers issuing company on the declarations. 8
- Ask how individual ERISA personal liability is treated for trustees Heffernan names versus Travelers’ individual insureds. 4 8
- Get limits and retentions from both quotes; public pages do not list them. 4 8
Offering Details
Heffernan Insurance Brokers vs Travelers Fiduciary Liability Insurance: documented features by provider
| Criteria | Heffernan Fiduciary Liability Insurance | Travelers Fiduciary Liability Insurance |
|---|---|---|
| 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. | Travelers underwrites fiduciary liability insurance as part of its Management & Professional Liability line, sold standalone or alongside other management liability coverages. 8Company-reported. Product page general framing; confirmed against the broader Management and Professional Liability Insurance page. |
| 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. | 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. 8Company-reported. Product page video legal footer. |
| 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. | Travelers markets fiduciary liability coverage to financial institutions, nonprofit organizations, private companies and public companies. 8Company-reported. Product page "Who is fiduciary liability insurance right for?" section. |
| 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. | 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. 8Company-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. |
| 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 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. 8Not found in reviewed sources. Product page video claim scenarios and cost statistics as read on 2026-09-23. |
| 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. | Not described in the reviewed sources. |
| 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. | Fiduciary liability coverage is bought through a Travelers independent agent. 8Company-reported. Product page "Find an insurance agent" call to action. |
Full Comparison
More Heffernan Insurance Brokers vs Travelers Comparisons
Other Fiduciary Liability Insurance Comparisons
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.
Travelers
- Technology Insurance. 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.
- Travelers Producer Compensation Disclosure (United States). 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.
- Contact Us. Travelers; Business insurance sold through independent agents; business claims 1.800.238.6225; MyTravelers for business features. Accessed 2026-09-16.
- Fiduciary Liability Insurance. 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
- 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 Insurance. Travelers; What Is Fiduciary Liability Insurance? Accessed 2026-09-16.
