HUB International vs Marsh: How Do They Compare for Fiduciary Liability Insurance?

HUB International brokers fiduciary coverage for employers with health or retirement plans and lists plan-administration claim scenarios; Marsh places policies for retirement-plan sponsors that typically cover defense and settlement costs.

HUB names fiduciary claims by participants, DOL and PBGC; Marsh FINPRO describes defense and settlement coverage, excludes contractual benefit obligations and provides claims advocacy. ^1,²

What Are the Key Differences Between HUB International and Marsh Fiduciary Liability Insurance?

Employer Litigation List Versus Typical Payment Types

HUB names litigation by plan participants, the Department of Labor and the Pension Benefit Guaranty Corporation among the claim scenarios it discusses. Marsh says a typical policy covers defense, damages and settlements for fiduciary breaches or administration errors, but excludes contractual liability for benefits due. ¹ ²

HUB states fiduciary liability is not covered by D&O. Marsh’s reviewed FAQs do not use that D&O contrast; they focus on what the fiduciary form typically pays and excludes. ¹ ²

Who Is Covered

HUB targets employers offering health-care or retirement benefit plans. Marsh says a typical policy insures the sponsor organization, the benefit plans and plan fiduciaries who are directors, officers or employees of the sponsor, and MMA also lists fiduciary in executive and professional liability. ¹ ² ³

Education Video Versus Control Review and Advocacy

HUB publishes a prevention video and does not describe a formal fiduciary risk-management service. Marsh says FINPRO helps identify red flags in fiduciary controls, builds programs from limit assessment to carrier selection, and provides claims advocates from the onset of a claim. Both start with a broker conversation. ¹ ²

What Should You Confirm in HUB International and Marsh Fiduciary Liability Insurance Quotes?

Ask Marsh how contractual liability interacts with unpaid benefits on your plans. ²
Ask HUB whether DOL and PBGC defense is on the form it is placing. ¹
Confirm whether the Marsh quote is FINPRO or MMA and which carrier it selected. ² ³
Ask both whether D&O and fiduciary are fully separate placements, which HUB states as a rule. ¹ ²

HUB International vs Marsh Fiduciary Liability Insurance Compared

HUB International vs Marsh: Fiduciary Liability Insurance: documented features by provider

Criteria	HUB International Fiduciary Liability Insurance Brokerage	Marsh Fiduciary Liability Insurance
Who It’s For	HUB targets fiduciary liability brokerage at employers offering health-care or retirement benefit plans who face potential litigation from plan participants, the Department of Labor or the Pension Benefit Guaranty Corporation. ¹Company-reported. Product-page target-audience description; not a published underwriting appetite.	Marsh says a fiduciary liability policy typically insures the sponsor organization, the benefit plans it operates, and plan fiduciaries who are directors, officers or employees of the plan sponsor. ²Company-reported. Fiduciary liability page, Who is covered? FAQ.
Coverage Features	HUB lists fiduciary liability claim scenarios it covers as including a plan's insurer, mutual fund or third-party administrator making bad choices, plan administration errors or conflicts of interest, benefits denial, changes or reductions, bad advice or improper counsel, insufficient plan funding, poor investment selection and incorrect plan termination. ¹Company-reported. Product-page list of covered claim scenarios; the issued policy's insuring agreement and exclusions control an actual claim. HUB states that fiduciary liability exposure "is not covered by director's and officers' liability policies," positioning fiduciary liability as a separate line from D&O rather than a bundled coverage. ¹Company-reported. Product-page statement distinguishing fiduciary liability from D&O.	Marsh says a fiduciary liability policy typically covers defense costs, damages, judgments and settlements from a fiduciary's breach of duty or from negligence, errors or omissions in administering a benefit plan, but does not cover contractual liability, so it cannot guarantee a plan's obligation to pay benefits due. ²Company-reported. Fiduciary liability page FAQs; illustrative policy description, not a specific policy form.
Role in This Line	HUB brokers fiduciary liability insurance for employers that sponsor health-care and retirement benefit plans, rather than underwriting the coverage itself. ¹Company-reported. Fiduciary liability product page, read 2026-09-23. The page does not name an issuing insurer.	Marsh's FINPRO (financial and professional) practice places fiduciary liability insurance for retirement plan sponsors and fiduciaries; MMA also lists fiduciary coverage within its executive and professional liability practice. ^2,³Company-reported. Marsh fiduciary liability page and MMA executive and professional liability page.
Risk Services	HUB publishes a video on preventing fiduciary liability claims and administrative-error best practices on the product page, but the page does not describe a formal fiduciary risk-management or plan-review service. ¹Company-reported. Product-page educational video reference.	Marsh says its FINPRO practice helps clients identify red flags in fiduciary controls, builds fiduciary liability programs from limit assessment to carrier selection, and provides claims advocacy to help resolve claims from the outset. ²Company-reported. Fiduciary liability page, Why Marsh section.