Lockton vs 
USI Insurance Services Fiduciary Liability Insurance
Lockton lists typical fiduciary insureds and a dedicated claims team; USI brokers the line for business-services trades and reviews gaps through ExecuSafe.
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. 1,2,3
What Is USI Insurance Services?
USI Insurance Services is a U.S. insurance brokerage and consulting firm that arranges property and casualty, employee benefits, personal risk, and retirement programs. Its Technology practice says it works with software, hardware, and related companies from early seed stage through IPO, using a consultative process rather than a published self-serve quote. 5,6,7
What Is Fiduciary Liability Insurance?
Fiduciary liability insurance addresses covered claims alleging breaches of duties in managing employee benefit plans. 10,11
Key Differences in Fiduciary Liability Insurance
Client Segments Each Broker Names
Lockton and USI both place fiduciary liability with insurers they do not name on the reviewed pages. Lockton describes the product as protecting companies and the people who manage employee benefit plans. USI’s Business Services practice targets building and maintenance, repair, janitorial, staffing and printing companies for a catalogue that includes fiduciary, and ExecuSafe separately addresses small- and medium-sized businesses. 4 8 9
If you run a benefit plan but are not in those trades, USI’s ExecuSafe article is the broader SMB path it publishes. Lockton’s description is tied to plan management, not to a trade list. 4 9
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. 4 8 9
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. 4 8 9
What to Confirm in Fiduciary Liability Insurance Quotes
- Ask USI whether you need a new placement or an ExecuSafe review of a policy you already have. 9
- Ask Lockton whether committees, trustees, spouses and former-employee consultants are named on the form. 4
- Ask whether HIPAA, Pension Protection Act or ACA fines are scheduled; Lockton says those apply only when explicitly stated. 4
- Confirm you still carry any required ERISA bond; Lockton treats it as separate from fiduciary liability. 4
Offering Details
Lockton vs USI Insurance Services Fiduciary Liability Insurance: documented features by provider
| Criteria | Lockton Fiduciary Liability Insurance Brokerage | USI Fiduciary Liability Brokerage |
|---|---|---|
| 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. 4Company-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. 8,9Company-reported. Business Services catalogue and ExecuSafe article. |
| Issuing Insurer | The page does not name the insurers Lockton places fiduciary liability coverage with. 4Not publicly disclosed. Fiduciary liability page checked 2026-09-23. | Neither page names the insurer USI uses for fiduciary liability placements. 8Not publicly disclosed. Pages as read on 2026-09-23. |
| 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. 4Company-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. 8,9Company-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. 4Company-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. 8,9Company-reported. Catalogue listing plus the ExecuSafe review description; actual insuring agreements and exclusions are set by the issued policy. |
| Limits and Retentions | Not described in the reviewed sources. | Neither page publishes fiduciary liability limit or retention figures. 8Not publicly disclosed. Pages as read on 2026-09-23. |
| Risk Services | Not described in the reviewed sources. | USI's Business Services practice says it offers classification and exposure reviews, claim advocacy and risk control across its coverage lines, including fiduciary liability, and its ExecuSafe process specifically reviews existing fiduciary liability policies for coverage gaps. 8,9Company-reported. Combines the general Business Services service list with the ExecuSafe-specific review step. |
| How to Apply | Not described in the reviewed sources. | USI directs business-services inquiries to pcinquiries@usi.com or a local office, and ExecuSafe/management-liability inquiries to Select.Business@usi.com. 8,9Company-reported. Contact instructions on each page. |
| 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. 4Company-reported. Fiduciary liability product page as read 2026-09-23. | Not described in the reviewed sources. |
Full Comparison
More Lockton vs USI Insurance Services Comparisons
Other Fiduciary Liability Insurance Comparisons
Sources
Lockton
- Lockton United States. Lockton; Opening description of independent insurance brokerage for risk, benefits and retirement; Ask an Expert link to contact-us. Accessed 2026-09-16.
- 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.
- US 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.
- 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.
USI Insurance Services
- The Power of ONE. USI Insurance Services; History, client-count, nationwide office, and P&C / benefits / personal risk / retirement description. Accessed 2026-09-16.
- Technology Insurance. USI Insurance Services; Technology practice client types, seed-to-IPO range, and listed insurance placement lines including PrivaSafe. Accessed 2026-09-16.
- Commissions and Fees. USI Insurance Services; Licensed-producer authority, insurer-paid commission default, contingent compensation, and client request right. Accessed 2026-09-16.
- Business Services. USI Insurance Services; USI advises clients...and provides solutions for...Fiduciary Liability... Accessed 2026-09-23.
- Protect Your Company and Personal Assets From Management Liability Risks. USI Insurance Services; Review existing management liability policies (if any) to uncover gaps in coverage...(including employment practices liability, fiduciary liability, and crime). Accessed 2026-09-23.
Fiduciary Liability Insurance Guide
- Field Assistance Bulletin No. 2008-04: Guidance Regarding ERISA Fidelity Bonding Requirements. U.S. Department of Labor, Employee Benefits Security Administration; Q2 pp.2–3. Accessed 2026-09-16.
- Fiduciary Liability Insurance. Travelers; What Is Fiduciary Liability Insurance? Accessed 2026-09-16.
