---
title: "Lockton vs RiskCube Fiduciary Liability Insurance"
description: "Lockton describes typical fiduciary grants and who can be insured; RiskCube’s startup catalogue covers 401(k), health and stock-option plans and cites investor requirements."
canonical: "https://spot.insure/compare/lockton-vs-riskcube/fiduciary"
page-type: "line-comparison"
updated-at: "2026-09-23"
---

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

# Lockton vs RiskCube Fiduciary Liability Insurance

Lockton describes typical fiduciary grants and who can be insured; RiskCube’s startup catalogue covers 401(k), health and stock-option plans and cites investor requirements.

## Research Scope and Use

Use this comparison to evaluate Lockton and RiskCube 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 places fiduciary liability with typical grants for benefit-law breaches and administration errors, and lists who a policy can cover. RiskCube lists fiduciary in its startup catalogue as covering directors, officers and plan administrators for 401(k), health and stock-option mismanagement, and says many institutional investors require it. [4](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") [8](https://riskcubeai.com/insurance "Startup Insurance Coverage")

## What Is Lockton?

Lockton is a privately held insurance brokerage that arranges commercial risk, employee benefits and retirement programs. US pages describe a technology practice and intermediary placement with insurers, not Lockton as the policy’s insurer. [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)

## What Is RiskCube Insurance?

RiskCube offers startup insurance brokerage through RiskCube Insurance Services, LLC, with a platform for comparing quotes and managing policies. Its published services emphasize vendor requirements, certificates and renewals; California product eligibility and applicable fees require confirmation. [5](https://riskcubeai.com/ "Startup Business Insurance") [6](https://riskcubeai.com/licenses "Licenses & Disclosures") [7](https://riskcubeai.com/disclosures "Disclosures & Compensation")

[RiskCube profile](https://spot.insure/insurance-providers/riskcube)

## What Is Fiduciary Liability Insurance?

Fiduciary liability insurance addresses covered claims alleging breaches of duties in managing employee benefit plans. [10](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") [11](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance")

## Key Differences in Fiduciary Liability Insurance

### Broker Roles on This Line

Lockton and RiskCube both shop fiduciary liability rather than underwrite it. Lockton places the coverage to protect companies and the individuals who manage their employee benefit plans. RiskCube lists Fiduciary Liability Insurance in its startup catalogue, sold through RiskCube Insurance Services, LLC, which that page describes as an independent brokerage. [4](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") [8](https://riskcubeai.com/insurance "Startup Insurance Coverage")

### What Each Coverage Description Includes

Lockton says a typical policy it places covers breaches of benefit laws, errors and omissions in plan administration, voluntary compliance loss, and, when explicitly stated, certain HIPAA, Pension Protection Act and ACA fines. It also notes fiduciary liability is distinct from an ERISA bond that insures plan assets against theft. RiskCube’s catalogue describes the cover as protecting directors, officers and plan administrators against claims of mismanaging employee benefit plans, including 401(k) plans, health benefits and stock option programs. [4](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") [8](https://riskcubeai.com/insurance "Startup Insurance Coverage")

Those are two different published pictures of the same line: Lockton’s typical grants and statutory-fine caveat versus RiskCube’s benefit-plan types, including stock options. The issued form still controls. [4](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") [8](https://riskcubeai.com/insurance "Startup Insurance Coverage")

### Who Each Says the Purchase Is For

Lockton says coverage typically extends to the organization, the benefit plans, employees, defined subsidiaries, spouses or domestic partners, estates and heirs, past employees retained as fiduciaries or consultants, and committees and trustees. RiskCube says fiduciary liability is required by many institutional investors, positioning it as an investor-driven purchase rather than coverage every startup is expected to carry from day one. [4](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") [8](https://riskcubeai.com/insurance "Startup Insurance Coverage")

## What to Confirm in Fiduciary Liability Insurance Quotes

- Ask RiskCube whether stock-option programs are on the form if that is why investors asked for the line. [8](https://riskcubeai.com/insurance "Startup Insurance Coverage")
- Ask Lockton whether statutory fines are scheduled and whether an ERISA bond is also being placed. [4](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance")
- Compare named insureds with Lockton’s typical list; RiskCube’s catalogue does not publish that roster. [4](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") [8](https://riskcubeai.com/insurance "Startup Insurance Coverage")
- Ask each which insurer would issue the policy; Lockton’s page and RiskCube’s catalogue both leave that unnamed. [4](https://global.lockton.com/us/en/products-services/fiduciary-liability-insurance "Fiduciary Liability Insurance") [8](https://riskcubeai.com/insurance "Startup Insurance Coverage")

## Offering Details

| Criteria | Lockton Fiduciary Liability Insurance Brokerage | RiskCube Fiduciary Liability Insurance |
| --- | --- | --- |
| 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..) | 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. [8](https://riskcubeai.com/insurance "Startup Insurance Coverage") (Evidence: Company-reported; scope: Catalogue-level description; no fiduciary-liability-specific product page exists to confirm additional role detail..) |
| 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..) | Not described in the reviewed sources. |
| 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..) | 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. [8](https://riskcubeai.com/insurance "Startup Insurance Coverage") (Evidence: Company-reported; scope: Catalogue marketing description, not an underwriting eligibility rule..) |
| 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..) | 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. [8](https://riskcubeai.com/insurance "Startup Insurance Coverage") (Evidence: Company-reported; scope: One-paragraph catalogue card; no policy form or exclusion list was found for this line..) |
| Limits and Retentions | 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](https://riskcubeai.com/insurance "Startup Insurance Coverage") [9](https://riskcubeai.com/insurance/fiduciary-liability "Contact RiskCube") (Evidence: Not publicly disclosed; scope: Public pages checked on 2026-09-23; amounts may appear only on an individual quote..) |
| How to Apply | 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. [9](https://riskcubeai.com/insurance/fiduciary-liability "Contact RiskCube") (Evidence: Not found in reviewed sources; scope: Checked on 2026-09-23; the URL may change to a dedicated page later..) |
| 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..) | Not described in the reviewed sources. |

## Full Comparison

- [Lockton vs RiskCube](https://spot.insure/compare/lockton-vs-riskcube): all coverage lines, business roles, service and claims.
- [What Is Fiduciary Liability Insurance?](https://spot.insure/coverage/fiduciary): Fiduciary liability insurance can help with covered claims alleging that your business or its people breached duties in managing an employee benefit plan.
- [Lockton vs RiskCube Crime Insurance](https://spot.insure/compare/lockton-vs-riskcube/crime)
- [Lockton vs RiskCube Cyber Insurance](https://spot.insure/compare/lockton-vs-riskcube/cyber)
- [Lockton vs RiskCube D&O Insurance](https://spot.insure/compare/lockton-vs-riskcube/directors-officers)
- [Lockton vs RiskCube Employment Practices Liability Insurance](https://spot.insure/compare/lockton-vs-riskcube/employment-practices)
- [Lockton vs RiskCube General Liability Insurance](https://spot.insure/compare/lockton-vs-riskcube/general-liability)
- [Alliance Risk vs Lockton Fiduciary Liability Insurance](https://spot.insure/compare/alliance-risk-vs-lockton/fiduciary)
- [Alliance Risk vs RiskCube Fiduciary Liability Insurance](https://spot.insure/compare/alliance-risk-vs-riskcube/fiduciary)
- [Beazley vs Lockton Fiduciary Liability Insurance](https://spot.insure/compare/beazley-vs-lockton/fiduciary)
- [Beazley vs RiskCube Fiduciary Liability Insurance](https://spot.insure/compare/beazley-vs-riskcube/fiduciary)
- [Chubb vs Lockton Fiduciary Liability Insurance](https://spot.insure/compare/chubb-vs-lockton/fiduciary)
- [Chubb vs RiskCube Fiduciary Liability Insurance](https://spot.insure/compare/chubb-vs-riskcube/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.

### RiskCube

5. [Startup Business Insurance](https://riskcubeai.com/). RiskCube; Solution; Compare/Buy/Manage; Who we insure; footer. Accessed 2026-09-16.
6. [Licenses & Disclosures](https://riskcubeai.com/licenses). RiskCube; Property & Casualty Producer/Broker Licenses; February 11, 2026 version. Accessed 2026-09-16.
7. [Disclosures & Compensation](https://riskcubeai.com/disclosures). RiskCube; Sections 1–5; February 11, 2026 version. Accessed 2026-09-16.
8. [Startup Insurance Coverage](https://riskcubeai.com/insurance). RiskCube; Fiduciary Liability card: "Covers directors, officers, and plan administrators against claims of mismanagement of employee benefit plans — including 401(k) plans, health benefits, and stock option programs. Required by many institutional investors."; footer "CA License #6017028 ... Independent brokerage · NPN 21694336". Accessed 2026-09-23.
9. [Contact RiskCube](https://riskcubeai.com/insurance/fiduciary-liability). RiskCube; The catalogue's Fiduciary Liability "Learn more" link resolves to a general contact form, not a dedicated fiduciary liability product page. Accessed 2026-09-23.

### Fiduciary Liability Insurance Guide

10. [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.
11. [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 2026-09-23. 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.

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