Lockton vs 
StartupInsurance.ai: How Do They Compare for Fiduciary Liability Insurance?
Lockton brokers fiduciary coverage for companies and plan administrators; StartupInsurance.ai lists the line in its startup intake and offers a free check for AI exclusions in current policies.
Lockton describes typical benefit-law grants, eligible insureds and claims support; StartupInsurance.ai adds an online startup intake and checks for blanket AI exclusions. 1,3,2
What Are the Key Differences Between Lockton and StartupInsurance.ai Fiduciary Liability Insurance?
Typical Policy Grants Versus Startup Checkbox
Lockton describes typical coverage for benefit-law breaches, administration errors, voluntary-compliance loss and certain fines when stated. StartupInsurance.ai includes fiduciary in its startup program and on its online quote-intake screen. 1 2 3
Statutory Wording Versus AI Exclusions
Lockton’s public description turns on HIPAA, Pension Protection Act and ACA fines when the form states them. StartupInsurance.ai turns on a different wording issue: it says one major carrier added a blanket AI exclusion to fiduciary forms (with D&O and E&O), often at renewal, and that a free 48-hour policy check looks for it. 1 2
Lockton’s reviewed page does not discuss AI endorsements. StartupInsurance.ai’s reviewed pages do not describe Lockton’s typical insured list or ERISA-bond distinction. 1 2
Claims Counsel Versus Policy Check
Lockton’s Professional & Executive Risk Claims team integrates counsel before a claim. StartupInsurance.ai’s described service for this line is the AI-exclusion policy check, not a dedicated fiduciary claims unit. 1 2
What Should You Confirm in Lockton and StartupInsurance.ai Fiduciary Liability Insurance Quotes?
- Ask StartupInsurance.ai whether the quoted fiduciary form includes an AI exclusion. 2
- Ask Lockton whether statutory fines are scheduled and whether an ERISA bond is also placed. 1
- Compare named insureds to Lockton’s typical roster, including spouses and committees. 1 3
- Confirm both issuing insurers; neither source names a fiduciary-specific carrier. 1 2
Lockton vs StartupInsurance.ai Fiduciary Liability Insurance Compared
Lockton vs StartupInsurance.ai: Fiduciary Liability Insurance: documented features by provider
| Criteria | Lockton Fiduciary Liability Insurance Brokerage | StartupInsurance.ai Fiduciary Liability Insurance |
|---|---|---|
| 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. 1Company-reported. Fiduciary liability product page as read 2026-09-23. General policy-structure description, not a specimen form. | StartupInsurance.ai says one major carrier added a blanket AI exclusion to fiduciary forms (along with D&O and E&O), typically arriving at renewal inside an endorsement, and that it checks policies for this exclusion. 2Company-reported. Homepage "wording that still says yes" section; names the exclusion trend industrywide but not the carrier, and does not state whether any StartupInsurance.ai-placed fiduciary policy carries this specific endorsement. |
| 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. 1Company-reported. Fiduciary liability product page as read 2026-09-23. | StartupInsurance.ai names fiduciary liability as one of the lines its startup program places, alongside general liability, D&O, tech E&O, cyber, employment practices and crime. 2Company-reported. Homepage "Coverage: What we place" list as read on 2026-09-23. |
