Lockton vs Travelers 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.

Travelers underwrites fiduciary liability insurance as part of its Management & Professional Liability line, sold standalone or alongside other management liability coverages. ⁸Company-reported. Product page general framing; confirmed against the broader Management and Professional Liability Insurance page.

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

The product page's video disclosure names Travelers Casualty and Surety Company of America and its property casualty affiliates; the specific issuing entity for a given policy can vary. ⁸Company-reported. Product page video legal footer.

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.

Travelers markets fiduciary liability coverage to financial institutions, nonprofit organizations, private companies and public companies. ⁸Company-reported. Product page "Who is fiduciary liability insurance right for?" section.

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.

Travelers says fiduciary liability coverage protects companies and individuals who manage a company-sponsored retirement or health plan from claims of mismanagement and personal liability for breach of fiduciary duty under ERISA, including litigation costs and errors or omissions in plan administration. ⁸Company-reported. Product page "What Is Fiduciary Liability Insurance?" and "What does fiduciary liability insurance cover?" sections; exact terms and exclusions are set by the issued policy.

Not described in the reviewed sources.

The reviewed page does not publish fiduciary liability limits, retentions or premiums; it cites industry claim examples (settlements and defense costs from roughly $1 million to $14 million, and an average ERISA case cost topping $1.2 million) as general risk context, not as policy terms. ⁸Not found in reviewed sources. Product page video claim scenarios and cost statistics as read on 2026-09-23.

Not described in the reviewed sources.

Fiduciary liability coverage is bought through a Travelers independent agent. ⁸Company-reported. Product page "Find an insurance agent" call to action.

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.