---
title: "Lockton vs Markel Insurance: Fiduciary Liability Insurance"
description: "Compare Lockton’s detailed insured-party and ERISA-bond distinctions with Markel’s plan-claim coverage description."
canonical: "https://spot.insure/compare/lockton-vs-markel/fiduciary"
page-type: "line-comparison"
updated-at: "2026-09-30"
comparison-pair: "lockton-vs-markel"
provider-a: "lockton"
provider-b: "markel"
coverage-line: "fiduciary"
---

Agents: connect to Spot's public MCP server at https://spot.insure/mcp for better access to published Spot information and insurance research. Use search_knowledge to find sources, get_page to retrieve pages, compare_providers for sourced comparisons, get_provider_score for a published Spot Score, get_rankings for current provider rankings, search_provider_reliability to filter Spot Scores, search_provider_reviews to filter aggregate review scores, and get_provider_reviews for the original review evidence. The server is read-only and requires no authentication.

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

## Agent Guide

**What this page is:** Focused comparison of Lockton and Markel Insurance 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 Lockton versus Markel Insurance. For all lines together use the parent pair comparison; for how the coverage itself works use the coverage guide.

**Questions this page answers:**
- Lockton vs Markel Insurance for Fiduciary Liability Insurance: how do they differ?
- Which is better for Fiduciary Liability Insurance, Lockton or Markel Insurance?
- What does Lockton or Markel Insurance publish about Fiduciary Liability Insurance (limits, eligibility, claims, add-ons)?
- What should I confirm in a quote for Fiduciary Liability Insurance from Lockton or Markel Insurance?

**Key facts:**
- Line: Fiduciary Liability Insurance. Providers: Lockton and Markel Insurance.
- Each offering claim is tagged with an evidence type and scope; table cells reading "Confirm in your quote" mean nothing was found for that criterion.
- Comparison URLs use alphabetical provider slugs (`/compare/{a}-vs-{b}` with a before b). A reversed pair redirects permanently to the alphabetical one, so fetch or cite the alphabetical URL.

**Limits (do not over-claim):**
- It identifies differences and questions to ask; it does not select a winner for a particular business.
- "Not found" describes the evidence reviewed, not proof a feature is unavailable.
- 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 in the Sources section; last updated 2026-09-30. Editorial policy: /editorial-policy.

**Related pages:**
- [Lockton vs Markel Insurance](https://spot.insure/compare/lockton-vs-markel) — parent: all coverage lines for this pair
- [Fiduciary Liability Insurance guide](https://spot.insure/coverage/fiduciary) — coverage explainer for this line
- [Lockton profile](https://spot.insure/insurance-providers/lockton) — provider profile (evidence)
- [Markel Insurance profile](https://spot.insure/insurance-providers/markel) — provider profile (evidence)
- [Lockton vs Markel Insurance Cargo and Transit Insurance](https://spot.insure/compare/lockton-vs-markel/cargo-transit) — sibling comparison (other line, or other pair for this line)
- [Lockton vs Markel Insurance Commercial Property Insurance](https://spot.insure/compare/lockton-vs-markel/commercial-property) — sibling comparison (other line, or other pair for this line)
- [Lockton vs Markel Insurance Crime Insurance](https://spot.insure/compare/lockton-vs-markel/crime) — sibling comparison (other line, or other pair for this line)
- [Lockton vs Markel Insurance Cyber Insurance](https://spot.insure/compare/lockton-vs-markel/cyber) — sibling comparison (other line, or other pair for this line)
- [Lockton vs Markel Insurance D&O Insurance](https://spot.insure/compare/lockton-vs-markel/directors-officers) — sibling comparison (other line, or other pair for this line)
- [Lockton vs Markel Insurance Employment Practices Liability Insurance](https://spot.insure/compare/lockton-vs-markel/employment-practices) — sibling comparison (other line, or other pair for this line)
- [Lockton vs Markel Insurance General Liability Insurance](https://spot.insure/compare/lockton-vs-markel/general-liability) — sibling comparison (other line, or other pair for this line)
- [Lockton vs Markel Insurance Product Liability Insurance](https://spot.insure/compare/lockton-vs-markel/product-liability) — sibling comparison (other line, or other pair for this line)
- [Lockton vs Markel Insurance Workers’ Compensation Insurance](https://spot.insure/compare/lockton-vs-markel/workers-compensation) — sibling comparison (other line, or other pair for this line)
- [AIG vs Lockton Fiduciary Liability Insurance](https://spot.insure/compare/aig-vs-lockton/fiduciary) — sibling comparison (other line, or other pair for this line)
- [AIG vs Markel Insurance Fiduciary Liability Insurance](https://spot.insure/compare/aig-vs-markel/fiduciary) — sibling comparison (other line, or other pair for this line)
- [Alliance Risk vs Lockton Fiduciary Liability Insurance](https://spot.insure/compare/alliance-risk-vs-lockton/fiduciary) — sibling comparison (other line, or other pair for this line)
- [Alliance Risk vs Markel Insurance Fiduciary Liability Insurance](https://spot.insure/compare/alliance-risk-vs-markel/fiduciary) — sibling comparison (other line, or other pair for this line)
- [Aon vs Lockton Fiduciary Liability Insurance](https://spot.insure/compare/aon-vs-lockton/fiduciary) — sibling comparison (other line, or other pair for this line)
- [Aon vs Markel Insurance Fiduciary Liability Insurance](https://spot.insure/compare/aon-vs-markel/fiduciary) — sibling comparison (other line, or other pair for this line)

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

Compare Lockton’s detailed insured-party and ERISA-bond distinctions with Markel’s plan-claim coverage description.

## Research Scope and Use

Use this comparison to evaluate Lockton and Markel Insurance for Fiduciary Liability Insurance against the same documented criteria. It identifies differences and questions to confirm; it does not select a winner for a particular business. Offering claims are what each provider publishes about this line unless marked otherwise. “Not found” describes the evidence reviewed, not proof that a feature is unavailable. Confirm the insurer, policy wording, limits, retentions, exclusions and cost in an actual quote.

## Summary

Lockton describes typical fiduciary insureds across the organization, benefit plans, employees and committees, and distinguishes liability insurance from an ERISA bond. Markel names plan-mismanagement and administration claims with potential defense costs and damages. [4](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") [7](https://www.markel.com/us/commercial/professional-and-management-liability/management-liability/private-and-nonprofit "Private and Nonprofit Management Liability Insurance")

## What Is Lockton?

Lockton suits technology companies and larger businesses seeking a broker across cyber, D&O, property, liability and benefits; small firms wanting an instant standard quote should compare digital agencies. [1](https://global.lockton.com/us/en "Lockton United States") [2](https://global.lockton.com/us/en/technology "Technology") [3](https://global.lockton.com/us/en/terms-of-business "US Terms of Business")

[Lockton profile](https://spot.insure/insurance-providers/lockton)

## Markel Insurance: Specialty Business and Products

Markel Insurance is Markel Group's specialty and small-business insurance business, with offerings across packages, workers' compensation, cyber, professional and management liability, property, marine, and surety. Products use different insurers and distribution routes, so compare the issuer and terms shown on the specific quote. [5](https://www.markel.com/about-us "About us") [6](https://www.sec.gov/Archives/edgar/data/1096343/000109634326000020/mkl-20251231.htm "Markel Group Inc. 2025 Form 10-K")

[Markel Insurance profile](https://spot.insure/insurance-providers/markel)

## 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](https://www.dol.gov/sites/dolgov/files/ebsa/employers-and-advisers/guidance/field-assistance-bulletins/erisa-fidelity-bonding-requirements.pdf "Field Assistance Bulletin No. 2008-04: Guidance Regarding ERISA Fidelity Bonding Requirements") [9](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9 "Fiduciary Liability") [10](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance")

## Key Differences in Fiduciary Liability Insurance

### Insured Parties and ERISA Bond

Lockton says typical policies it places can extend to the organization, benefit plans, employees, defined subsidiaries, spouses or domestic partners, estates, former employees retained as fiduciaries, committees and trustees. It also distinguishes fiduciary liability for governance decisions from an ERISA bond that protects plan assets against theft. Markel describes private companies, nonprofits and individuals managing plans, with mismanagement and administration claims, but does not specify this broader insured-party list or bond distinction in the reviewed claim. Plan sponsors should check both policy schedules and secure any bond separately. [4](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") [7](https://www.markel.com/us/commercial/professional-and-management-liability/management-liability/private-and-nonprofit "Private and Nonprofit Management Liability Insurance")

### Regulatory Loss and Claims Planning

Lockton notes that voluntary-compliance losses and certain fines or penalties may be covered only when explicitly stated, and says its Professional & Executive Risk Claims team integrates insurance and claims counsel in brokerage planning. Markel’s claim describes potential defense costs, settlements and judgments but does not discuss regulatory penalties or an integrated claims team. This makes endorsement language especially important if a sponsor is evaluating HIPAA, Pension Protection Act or ACA penalties. [4](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") [7](https://www.markel.com/us/commercial/professional-and-management-liability/management-liability/private-and-nonprofit "Private and Nonprofit Management Liability Insurance")

## What to Confirm in Fiduciary Liability Insurance Quotes

- Which committees, former fiduciaries, spouses, plans and subsidiaries are insured under each schedule? [4](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") [7](https://www.markel.com/us/commercial/professional-and-management-liability/management-liability/private-and-nonprofit "Private and Nonprofit Management Liability Insurance")
- Are voluntary-compliance losses or statutory fines covered by express endorsement, and what exclusions apply? [4](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") [7](https://www.markel.com/us/commercial/professional-and-management-liability/management-liability/private-and-nonprofit "Private and Nonprofit Management Liability Insurance")
- Is a separate ERISA bond needed, and who coordinates claims strategy after placement? [4](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") [7](https://www.markel.com/us/commercial/professional-and-management-liability/management-liability/private-and-nonprofit "Private and Nonprofit Management Liability Insurance")

## Offering Details

| Criteria | Lockton Fiduciary Liability Insurance Brokerage | Markel fiduciary liability |
| --- | --- | --- |
| Role in This Line | 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. [4](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..) | Markel lists fiduciary liability for private companies, nonprofits and individuals managing employee benefit plans. [7](https://www.markel.com/us/commercial/professional-and-management-liability/management-liability/private-and-nonprofit "Private and Nonprofit Management Liability Insurance") (Evidence: Company-reported; scope: U.S. private/nonprofit product page; not a fidelity bond..) |
| Issuing Insurer | The page does not name the insurers Lockton places fiduciary liability coverage with. [4](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") (Evidence: Not publicly disclosed; scope: Fiduciary liability page checked 2026-09-23..) | Confirm in your quote. |
| Who It’s For | 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. [4](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..) | The page identifies private companies and not-for-profits and employee-plan fiduciaries as intended audiences; exact class and plan eligibility is not stated universally. [7](https://www.markel.com/us/commercial/professional-and-management-liability/management-liability/private-and-nonprofit "Private and Nonprofit Management Liability Insurance") (Evidence: Company-reported; scope: Published audience description only..) |
| Coverage Features | 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. [4](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..) | Markel describes claims involving benefit-plan mismanagement, administrative errors or breach of fiduciary duty, with potential defense costs, settlements and judgments subject to policy wording. [7](https://www.markel.com/us/commercial/professional-and-management-liability/management-liability/private-and-nonprofit "Private and Nonprofit Management Liability Insurance") (Evidence: Company-reported; scope: Illustrative page description; policy terms control..) |
| Claims Support | Lockton's Professional & Executive Risk Claims team integrates insurance and claims counsel within the broking team, which Lockton says is meant to have claims strategy in place before a fiduciary liability claim arises. [4](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..) | Confirm in your quote. |

## Full Comparison

- [Lockton vs Markel Insurance](https://spot.insure/compare/lockton-vs-markel): 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.
- [Lockton vs Markel Insurance Cargo and Transit Insurance](https://spot.insure/compare/lockton-vs-markel/cargo-transit)
- [Lockton vs Markel Insurance Commercial Property Insurance](https://spot.insure/compare/lockton-vs-markel/commercial-property)
- [Lockton vs Markel Insurance Crime Insurance](https://spot.insure/compare/lockton-vs-markel/crime)
- [Lockton vs Markel Insurance Cyber Insurance](https://spot.insure/compare/lockton-vs-markel/cyber)
- [Lockton vs Markel Insurance D&O Insurance](https://spot.insure/compare/lockton-vs-markel/directors-officers)
- [Lockton vs Markel Insurance Employment Practices Liability Insurance](https://spot.insure/compare/lockton-vs-markel/employment-practices)
- [Lockton vs Markel Insurance General Liability Insurance](https://spot.insure/compare/lockton-vs-markel/general-liability)
- [Lockton vs Markel Insurance Product Liability Insurance](https://spot.insure/compare/lockton-vs-markel/product-liability)
- [Lockton vs Markel Insurance Workers’ Compensation Insurance](https://spot.insure/compare/lockton-vs-markel/workers-compensation)
- [AIG vs Lockton Fiduciary Liability Insurance](https://spot.insure/compare/aig-vs-lockton/fiduciary)
- [AIG vs Markel Insurance Fiduciary Liability Insurance](https://spot.insure/compare/aig-vs-markel/fiduciary)
- [Alliance Risk vs Lockton Fiduciary Liability Insurance](https://spot.insure/compare/alliance-risk-vs-lockton/fiduciary)
- [Alliance Risk vs Markel Insurance Fiduciary Liability Insurance](https://spot.insure/compare/alliance-risk-vs-markel/fiduciary)
- [Aon vs Lockton Fiduciary Liability Insurance](https://spot.insure/compare/aon-vs-lockton/fiduciary)
- [Aon vs Markel Insurance Fiduciary Liability Insurance](https://spot.insure/compare/aon-vs-markel/fiduciary)

## Sources

### Lockton

1. [Lockton United States](https://global.lockton.com/us/en). Lockton; Opening description of independent insurance brokerage for risk, benefits and retirement; Ask an Expert link to contact-us. Accessed 2026-09-16.
2. [Technology](https://global.lockton.com/us/en/technology). Lockton; Industry introduction; cyber liability heading; dedicated technology team; listed services including claims advocacy, contract review, directors and officers liability, and international program design; 24/7 service model. Accessed 2026-09-16.
3. [US Terms of Business](https://global.lockton.com/us/en/terms-of-business). Lockton; Opening entity definition; Surplus Lines; Use of a Particular Insurer; Compensation Disclosure; servicing, claims handling and renewal language in Confidentiality section; Intermediaries. Accessed 2026-09-16.
4. [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.

### Markel Insurance

5. [About us](https://www.markel.com/about-us). Markel; Markel at a glance; description of Markel Insurance within Markel Group Inc.. Accessed 2026-09-28.
6. [Markel Group Inc. 2025 Form 10-K](https://www.sec.gov/Archives/edgar/data/1096343/000109634326000020/mkl-20251231.htm). U.S. Securities and Exchange Commission; filed by Markel Group Inc.; Cover page; Part I, Item 1 Business—Markel Insurance, U.S. Wholesale and Specialty, Programs and Solutions; Part II, Item 7/8 for group and segment risks. Accessed 2026-09-28.
7. [Private and Nonprofit Management Liability Insurance](https://www.markel.com/us/commercial/professional-and-management-liability/management-liability/private-and-nonprofit). Markel; What we offer; private/nonprofit segment; D&O, EPL, fiduciary and optional coverage sections.. Accessed 2026-09-29.

### Fiduciary Liability Insurance Guide

8. [Field Assistance Bulletin No. 2008-04: Guidance Regarding ERISA Fidelity Bonding Requirements](https://www.dol.gov/sites/dolgov/files/ebsa/employers-and-advisers/guidance/field-assistance-bulletins/erisa-fidelity-bonding-requirements.pdf). U.S. Department of Labor, Employee Benefits Security Administration; Q2 pp.2–3. Accessed 2026-09-16.
9. [Fiduciary Liability](https://asset.trvstatic.com/download/assets/fri-3001.pdf/c75b6c8e63ca11ee93454641efede6a9). 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.
10. [Fiduciary Liability Insurance](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability). Travelers; What Is Fiduciary Liability Insurance?. Accessed 2026-09-16.

Updated 2026-09-30. 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.

## Lockton Reviews

Review Score: 8.4 / 10 from 3 rated sources, equally weighted.

Lockton’s reviews vary by office and entity. Local Google-derived ratings provide some service feedback, but no reliable firmwide verdict.

- BBB: BBB grade A+ (BBB letter grade). Denver BBB profile for Lockton Companies, LLC; corporate profile, not insurer/customer-star aggregate. Checked 2026-09-25. [Lockton Companies, LLC | BBB Business Profile](https://www.bbb.org/us/co/denver/profile/insurance-companies/lockton-companies-llc-1296-9971)
- ProvenExpert (Google Maps aggregation): Google Maps aggregate shown by ProvenExpert 4 (0–5 stars); 44 reviews. Aggregator profile labeled Lockton, insurance brokerage/consulting, attached to 444 W 47th St, Suite 900, Kansas City, Missouri. This is location-level evidence and should not be treated as firmwide consensus. ProvenExpert says the 44 reviews are from Google Maps; it does not show review-level dates in the captured result. Period: Profile active/updated 2026-08-18; accessed 2026-09-25. Checked 2026-09-25. [Lockton Reviews & Experiences | ProvenExpert](https://www.provenexpert.com/en-us/lockton/)
- Birdeye (aggregates Google and Birdeye reviews): combined Google/Birdeye star rating 3.6 (0–5 stars); 144 reviews. Office/program-specific Lockton Affinity, LLC profile at 10895 Lowell Ave, Overland Park, Kansas; not Lockton Companies, LLC firmwide. Birdeye identifies 141 Google reviews plus 3 Birdeye reviews. Period: Accessed 2026-09-25; visible excerpts dated about 3 years earlier. Checked 2026-09-25. [Lockton Affinity, LLC | Birdeye](https://reviews.birdeye.com/lockton-affinity-llc-542637984)

Reviewed 2026-09-25. [Read the sourced review](https://spot.insure/insurance-providers/lockton/reviews).

## Markel Insurance Reviews

Review Score: 7.5 / 10 from 2 rated sources, equally weighted.

There is little public customer feedback on Markel. Trustpilot shows 2.5 out of 5 from just 5 reviews, and BBB lists 12 complaints closed in the last three years.

- J.D. Power: Commercial Lines Insurers agent satisfaction score 726 (out of 1,000). 2022 commercial-lines independent-agent satisfaction study and 2025 small-commercial customer study; these use different populations and measures Period: 2022. Checked 2026-09-29. [2025 U.S. Small Commercial Insurance Study](https://www.jdpower.com/business/press-releases/2025-us-small-commercial-insurance-study); [2022 U.S. Independent Agent Satisfaction Study](https://www.jdpower.com/sites/default/files/file/2022-10/2022134%20U.S.%20Independent%20Agent.pdf)
- Trustpilot: TrustScore 2.5 (out of 5); 5 reviews. Trustpilot brand-level page for markel.com. It mixes products and is not mapped to one legal insurer. Checked 2026-09-29. [Markel Reviews](https://www.trustpilot.com/review/markel.com)
- BBB: BBB business grade A+. BBB business profile for Markel Insurance Company headquarters/corporate-owned locations; review and complaint submissions may include other products and affiliates Checked 2026-09-29. [Markel Insurance Company Business Profile](https://www.bbb.org/us/va/glen-allen/profile/insurance-companies/markel-insurance-company-0603-4017547); [Markel Insurance Company Complaints](https://www.bbb.org/us/va/glen-allen/profile/insurance-companies/markel-insurance-company-0603-4017547/complaints)
- BBB: Complaints 12; 12 reviews. BBB profile for Markel Insurance Company; complaints may include other Markel products and affiliates and BBB says not all submissions are displayed. Period: last 3 years, as displayed 2026-09-29. Checked 2026-09-29. [Markel Insurance Company Complaints](https://www.bbb.org/us/va/glen-allen/profile/insurance-companies/markel-insurance-company-0603-4017547/complaints)

Reviewed 2026-09-29. [Read the sourced review](https://spot.insure/insurance-providers/markel/reviews).

## Agent and Developer Resources

- [Markdown page](https://spot.insure/compare/lockton-vs-markel/fiduciary.md)
- [Developer resources](https://spot.insure/developers)
- [Public MCP server](https://spot.insure/mcp)
- [MCP server manifest](https://spot.insure/server.json)
- [OpenAPI description](https://spot.insure/openapi.json)
- [Public page index](https://spot.insure/llms.txt)