Marsh vs THREE by Berkshire Hathaway: How Do They Compare for Fiduciary Liability Insurance?

Marsh's FINPRO (financial and professional) practice places fiduciary liability insurance for retirement plan sponsors and fiduciaries; MMA also lists fiduciary coverage within its executive and professional liability practice. ^5,6Company-reported. Marsh fiduciary liability page and MMA executive and professional liability page.

THREE presents Fiduciary Liability as a component of its combined Business Owners Policy rather than identifying it as a separate standalone policy on the reviewed product page. ⁹Company-reported. Company-described U.S. package structure. The page does not establish underwriting terms or that every listed category will be included for every applicant.

The reviewed pages do not name a specific fiduciary liability insurer. Marsh describes its own role as advising on limit assessment and carrier selection, implying the issuing insurer depends on the placement. ⁵Not publicly disclosed. Fiduciary liability page as read on 2026-09-23.

The linked sample policy's declarations identify Berkshire Hathaway Direct Insurance Company as issuer. ⁸Company-reported. This is the issuer named on the public sample only; the sample does not establish the issuing entity for every state-specific quote or buyer's issued policy.

Marsh says a fiduciary liability policy typically insures the sponsor organization, the benefit plans it operates, and plan fiduciaries who are directors, officers or employees of the plan sponsor. ⁵Company-reported. Fiduciary liability page, Who is covered? FAQ.

The reviewed product page does not state separate eligibility rules for Fiduciary Liability; the general quote and advisor route is not proof that a particular business qualifies for it. ^9,7Not publicly disclosed. Eligibility and state availability remain unestablished for an individual risk until THREE returns its quote and applicable forms.

Marsh says a fiduciary liability policy typically covers defense costs, damages, judgments and settlements from a fiduciary's breach of duty or from negligence, errors or omissions in administering a benefit plan, but does not cover contractual liability, so it cannot guarantee a plan's obligation to pay benefits due. ⁵Company-reported. Fiduciary liability page FAQs; illustrative policy description, not a specific policy form.

THREE's Business Owners Policy page lists Fiduciary Liability among its marketed coverage categories in the combined policy. This describes the product page, not whether the category appears in a particular quote or responds to a loss. ^9,8Company-reported. Official THREE package marketing for Fiduciary Liability. The sample policy is state-selectable and does not establish that this item is included in every quote or issued policy.

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The reviewed public product page does not state a separate limit or deductible for Fiduciary Liability; THREE says the quote-specific insurance summary lists limits and deductibles. ^9,8Not publicly disclosed. No number is inferred from the sample policy. The quote and issued declarations control the buyer-specific limit and deductible.

Marsh says its FINPRO practice helps clients identify red flags in fiduciary controls, builds fiduciary liability programs from limit assessment to carrier selection, and provides claims advocacy to help resolve claims from the outset. ⁵Company-reported. Fiduciary liability page, Why Marsh section.

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THREE directs small-business prospects to an online quote and says licensed Small Business Advisors can help with the process. ⁷Company-reported. This is the route for the overall THREE product. It does not show whether Fiduciary Liability will be offered for a particular business or whether a customer can bind that line without an issued policy.

Marsh describes its claims advocates as helping clients resolve fiduciary liability claims from the onset, without publishing outcome statistics for this line. ⁵Company-reported. Fiduciary liability page, Why Marsh section.

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