Lockton vs 
USI Insurance Services: How Do They Compare for Fiduciary Liability Insurance?
Lockton brokers fiduciary policies for employers, plans, and administrators and offers specialist claims support; USI Insurance Services places the line for business-services clients and provides exposure reviews and claim advocacy.
USI targets building, repair, janitorial, staffing and printing businesses and reviews policies through ExecuSafe; Lockton describes typical insureds and adds claims counsel. 1,2,3
What Are the Key Differences Between Lockton and USI Insurance Services Fiduciary Liability Insurance?
Client Segments Each Broker Names
Lockton describes coverage for companies and people managing benefit plans. USI includes fiduciary in a Business Services catalogue aimed at building, maintenance, repair, janitorial, staffing and printing firms, and also offers ExecuSafe reviews for small and medium businesses. 1 2 3
Who a Typical Placement Can Cover
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. USI lists fiduciary among coverages it places and says ExecuSafe looks for gaps in a client’s existing fiduciary liability as part of a management-liability review, without publishing that insured roster. 1 2 3
Claims Help Each Firm Describes
Lockton’s Professional & Executive Risk Claims team integrates insurance and claims counsel within the broking team so a claims strategy exists before a fiduciary liability claim arises. USI’s Business Services practice says it offers claim advocacy and risk control across lines including fiduciary, and ExecuSafe reviews existing fiduciary policies for coverage gaps. 1 2 3
What Should You Confirm in Lockton and USI Insurance Services Fiduciary Liability Insurance Quotes?
- Ask USI whether you need a new placement or an ExecuSafe review of a policy you already have. 3
- Ask Lockton whether committees, trustees, spouses and former-employee consultants are named on the form. 1
- Ask whether HIPAA, Pension Protection Act or ACA fines are scheduled; Lockton says those apply only when explicitly stated. 1
- Confirm you still carry any required ERISA bond; Lockton treats it as separate from fiduciary liability. 1
Lockton vs USI Insurance Services Fiduciary Liability Compared
Lockton vs USI Insurance Services: Fiduciary Liability Insurance: documented features by provider
| Criteria | Lockton Fiduciary Liability Insurance Brokerage | USI Fiduciary Liability Brokerage |
|---|---|---|
| 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. 1Company-reported. Fiduciary liability product page as read 2026-09-23. | USI's Business Services practice targets building and maintenance, repair service, janitorial, staffing and printing companies for its broader coverage catalogue, which includes fiduciary liability; the ExecuSafe article separately targets small- and medium-sized businesses generally for management liability review. 2,3Company-reported. Company description of client segments for each source. |
| 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. | USI lists fiduciary liability among the coverages it places for business-services clients, and separately says its ExecuSafe review looks for gaps in a client's existing fiduciary liability coverage as part of a management liability review. 2,3Company-reported. Catalogue listing plus the ExecuSafe review description; actual insuring agreements and exclusions are set by the issued policy. |
| 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. | USI brokers fiduciary liability coverage, which protects a company and its plan fiduciaries against claims of mismanaging an employee benefit plan; USI places it individually or reviews it as part of a management liability program under its ExecuSafe endorsement package. 2,3Company-reported. Business Services catalogue and ExecuSafe article. |
