Lockton vs RiskCube 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.

RiskCube lists Fiduciary Liability Insurance as one line in its startup catalogue, sold through RiskCube Insurance Services, LLC, which the catalogue page describes as an "Independent brokerage." RiskCube does not underwrite the policy itself. ⁸Company-reported. Catalogue-level description; no fiduciary-liability-specific product page exists to confirm additional role detail.

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

Not described in the reviewed sources.

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.

RiskCube's catalogue says fiduciary liability coverage is "required by many institutional investors," positioning it as an investor-driven purchase rather than a coverage every startup is expected to carry from day one. ⁸Company-reported. Catalogue marketing description, not an underwriting eligibility rule.

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.

RiskCube's catalogue describes fiduciary liability as covering directors, officers and plan administrators against claims of mismanaging employee benefit plans, including 401(k) plans, health benefits and stock option programs. ⁸Company-reported. One-paragraph catalogue card; no policy form or exclusion list was found for this line.

Not described in the reviewed sources.

The reviewed fiduciary liability catalogue card and contact-form page do not publish limit, retention or premium ranges for this line. ^8,9Not publicly disclosed. Public pages checked on 2026-09-23; amounts may appear only on an individual quote.

Not described in the reviewed sources.

Unlike RiskCube's technology E&O and key person life insurance lines, the catalogue's "Learn more" link for Fiduciary Liability (riskcubeai.com/insurance/fiduciary-liability) redirects to a general contact form rather than a dedicated page describing a fiduciary-specific application flow or required intake information. Guessed slugs /insurance/fiduciary and /insurance/fiduciary-insurance both 404. ⁹Not found in reviewed sources. Checked on 2026-09-23; the URL may change to a dedicated page later.

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.