Lockton vs Relm Insurance Fiduciary Liability Insurance

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. ⁴Company-reported. Fiduciary liability product page as read 2026-09-23.

Relm markets fiduciary liability as a coverage brokers can place for clients that manage employee benefit plans. ⁷Company-reported. Relm line-of-business page (Relm sells through brokers); not a statement identifying the issuing insurer for a given placement.

The page does not name the insurers Lockton places fiduciary liability coverage with. ⁴Not publicly disclosed. Fiduciary liability page checked 2026-09-23.

The reviewed page does not name a specific issuing insurer for fiduciary liability placements. ⁷Not publicly disclosed. Line-of-business page as read on 2026-09-23; a specific placement's insurer is product- and jurisdiction-specific.

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. ⁴Company-reported. Fiduciary liability product page as read 2026-09-23.

Relm targets companies that manage employee benefit plans such as pensions or health insurance, specifically calling out startups and growth-stage companies that introduce benefits early to attract talent. ⁷Company-reported. Financial Lines page framing; not a guarantee of eligibility for a particular company.

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. ⁴Company-reported. Fiduciary liability product page as read 2026-09-23. General policy-structure description, not a specimen form.

Relm says fiduciary liability protects plan sponsors, trustees, administrators, investment committees, and directors and officers with 'discretionary authority' under ERISA, covering legal fees, settlement and judgment costs tied to employee benefit plans. ⁷Company-reported. Financial Lines page general description; the issued policy and declarations control.

Not described in the reviewed sources.

The reviewed fiduciary liability page does not describe dedicated plan-administration review or risk-control services beyond the general coverage description. ⁷Not found in reviewed sources. Financial Lines page as read on 2026-09-23.

Not described in the reviewed sources.

Relm sells fiduciary liability coverage through insurance brokers; its reviewed pages do not describe a direct online quote. ⁷Company-reported. Financial Lines page framing; consistent with Relm's broader broker-distribution model.

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. ⁴Company-reported. Fiduciary liability product page as read 2026-09-23.

Not described in the reviewed sources.