---
title: "Marsh vs Travelers Fiduciary Liability Insurance"
description: "Marsh places fiduciary for plan sponsors and says typical forms exclude contractual liability; Travelers underwrites the line through named casualty affiliates."
canonical: "https://spot.insure/compare/marsh-vs-travelers/fiduciary"
page-type: "line-comparison"
updated-at: "2026-09-24"
---

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# Marsh vs Travelers Fiduciary Liability Insurance

Marsh places fiduciary for plan sponsors and says typical forms exclude contractual liability; Travelers underwrites the line through named casualty affiliates.

## Research Scope and Use

Use this comparison to evaluate Marsh and Travelers for Fiduciary Liability Insurance against the same documented criteria. It identifies differences and questions to confirm; it does not select a winner for a particular business. Offering claims are what each provider publishes about this line unless marked otherwise. “Not found” describes the evidence reviewed, not proof that a feature is unavailable. Confirm the insurer, policy wording, limits, retentions, exclusions and cost in an actual quote.

## Summary

Marsh’s FINPRO practice places fiduciary liability for retirement plan sponsors and says a typical policy covers defense, damages and settlements but not contractual liability. Travelers underwrites the coverage in Management & Professional Liability, naming Travelers Casualty and Surety Company of America and affiliates. [5](https://www.marsh.com/en/services/financial-professional-liability/expertise/fiduciary.html "Fiduciary liability") [6](https://www.marshmma.com/us/solutions/executive-and-professional-liability.html "Expert Executive and Professional Liability Insurance") [10](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance")

## What Is Marsh?

Marsh is a global insurance broker and risk advisor. In the United States it places coverage through core Marsh teams and through Marsh McLennan Agency for many middle-market buyers, including technology, cyber, property, casualty and benefits programs. [1](https://www.marsh.com/en/home.html "Marsh | Leader in risk, strategy, people, and investments") [2](https://www.marsh.com/content/dam/marsh/Documents/PDF/US-en/us-client-compensation-guide.pdf "Compensation guide for US clients") [3](https://www.marsh.com/en/services/marsh-mclennan-agency.html "Marsh McLennan Agency (MMA)") [4](https://www.marsh.com/en/industries/technology.html "Technology | Insurance Broking & Risk Management")

[Marsh profile](https://spot.insure/insurance-providers/marsh)

## What Is Travelers Insurance?

Travelers is a U.S. property-casualty insurance group that markets business coverage, including a technology practice, through independent agents and brokers. Buyers can investigate CyberRisk Tech, a small-business technology-services policy, and other commercial lines, then confirm the issuing company and California availability on a quote. [7](https://www.travelers.com/business-insurance/technology "Technology Insurance") [8](https://www.travelers.com/about-travelers/producer-compensation-disclosure "Travelers Producer Compensation Disclosure (United States)") [9](https://www.travelers.com/contact-us "Contact Us")

[Travelers profile](https://spot.insure/insurance-providers/travelers)

## What Is Fiduciary Liability Insurance?

Fiduciary liability insurance addresses covered claims alleging breaches of duties in managing employee benefit plans. [11](https://www.dol.gov/sites/dolgov/files/ebsa/employers-and-advisers/guidance/field-assistance-bulletins/erisa-fidelity-bonding-requirements.pdf "Field Assistance Bulletin No. 2008-04: Guidance Regarding ERISA Fidelity Bonding Requirements") [12](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance")

## Key Differences in Fiduciary Liability Insurance

### Who Issues Versus Who Places

Marsh’s FINPRO practice places fiduciary liability for retirement plan sponsors and fiduciaries, and Marsh McLennan Agency also lists the line; the reviewed Marsh pages do not name a specific issuing insurer. [5](https://www.marsh.com/en/services/financial-professional-liability/expertise/fiduciary.html "Fiduciary liability") [6](https://www.marshmma.com/us/solutions/executive-and-professional-liability.html "Expert Executive and Professional Liability Insurance") [10](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance")

### What Each Company Says the Coverage Does

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. [5](https://www.marsh.com/en/services/financial-professional-liability/expertise/fiduciary.html "Fiduciary liability") [10](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance")

## What to Confirm in Fiduciary Liability Insurance Quotes

- Ask Marsh which carrier it selected; its reviewed pages do not name one. [5](https://www.marsh.com/en/services/financial-professional-liability/expertise/fiduciary.html "Fiduciary liability")
- Confirm the Travelers issuing company on the declarations. [10](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance")
- Ask Marsh how contractual liability is treated on the quoted form. [5](https://www.marsh.com/en/services/financial-professional-liability/expertise/fiduciary.html "Fiduciary liability")
- Ask Travelers how personal liability for ERISA breach is scheduled for individuals who manage the plan. [10](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance")
- Get actual limits from both quotes; Travelers’ reviewed page cites industry claim-cost examples as risk context, not as policy terms, and Marsh’s reviewed pages do not publish limits. [10](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance") [5](https://www.marsh.com/en/services/financial-professional-liability/expertise/fiduciary.html "Fiduciary liability")

## Offering Details

| Criteria | Marsh Fiduciary Liability Insurance | Travelers Fiduciary Liability Insurance |
| --- | --- | --- |
| Role in This Line | 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](https://www.marsh.com/en/services/financial-professional-liability/expertise/fiduciary.html "Fiduciary liability") [6](https://www.marshmma.com/us/solutions/executive-and-professional-liability.html "Expert Executive and Professional Liability Insurance") (Evidence: Company-reported; scope: Marsh fiduciary liability page and MMA executive and professional liability page..) | Travelers underwrites fiduciary liability insurance as part of its Management & Professional Liability line, sold standalone or alongside other management liability coverages. [10](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: Product page general framing; confirmed against the broader Management and Professional Liability Insurance page..) |
| Issuing Insurer | 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. [5](https://www.marsh.com/en/services/financial-professional-liability/expertise/fiduciary.html "Fiduciary liability") (Evidence: Not publicly disclosed; scope: Fiduciary liability page as read on 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. [10](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: Product page video legal footer..) |
| Who It’s For | 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. [5](https://www.marsh.com/en/services/financial-professional-liability/expertise/fiduciary.html "Fiduciary liability") (Evidence: Company-reported; scope: Fiduciary liability page, Who is covered? FAQ..) | Travelers markets fiduciary liability coverage to financial institutions, nonprofit organizations, private companies and public companies. [10](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: Product page "Who is fiduciary liability insurance right for?" section..) |
| Coverage Features | 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. [5](https://www.marsh.com/en/services/financial-professional-liability/expertise/fiduciary.html "Fiduciary liability") (Evidence: Company-reported; scope: Fiduciary liability page FAQs; illustrative policy description, not a specific policy 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. [10](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: 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..) |
| Limits and Retentions | 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. [10](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance") (Evidence: Not found in reviewed sources; scope: Product page video claim scenarios and cost statistics as read on 2026-09-23..) |
| Risk Services | 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. [5](https://www.marsh.com/en/services/financial-professional-liability/expertise/fiduciary.html "Fiduciary liability") (Evidence: Company-reported; scope: Fiduciary liability page, Why Marsh section..) | Not described in the reviewed sources. |
| How to Apply | Not described in the reviewed sources. | Fiduciary liability coverage is bought through a Travelers independent agent. [10](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability "Fiduciary Liability Insurance") (Evidence: Company-reported; scope: Product page "Find an insurance agent" call to action..) |
| Claims Support | Marsh describes its claims advocates as helping clients resolve fiduciary liability claims from the onset, without publishing outcome statistics for this line. [5](https://www.marsh.com/en/services/financial-professional-liability/expertise/fiduciary.html "Fiduciary liability") (Evidence: Company-reported; scope: Fiduciary liability page, Why Marsh section..) | Not described in the reviewed sources. |

## Full Comparison

- [Marsh vs Travelers](https://spot.insure/compare/marsh-vs-travelers): all coverage lines, business roles, service and claims.
- [What Is Fiduciary Liability Insurance?](https://spot.insure/coverage/fiduciary): Fiduciary liability insurance can help with covered claims alleging that your business or its people breached duties in managing an employee benefit plan.
- [Marsh vs Travelers Commercial Property Insurance](https://spot.insure/compare/marsh-vs-travelers/commercial-property)
- [Marsh vs Travelers Crime Insurance](https://spot.insure/compare/marsh-vs-travelers/crime)
- [Marsh vs Travelers Cyber Insurance](https://spot.insure/compare/marsh-vs-travelers/cyber)
- [Marsh vs Travelers D&O Insurance](https://spot.insure/compare/marsh-vs-travelers/directors-officers)
- [Marsh vs Travelers Employment Practices Liability Insurance](https://spot.insure/compare/marsh-vs-travelers/employment-practices)
- [Marsh vs Travelers Equipment Breakdown Insurance](https://spot.insure/compare/marsh-vs-travelers/equipment-breakdown)
- [Marsh vs Travelers Fidelity Bonds](https://spot.insure/compare/marsh-vs-travelers/fidelity-bonds)
- [Marsh vs Travelers Kidnap and Ransom Insurance](https://spot.insure/compare/marsh-vs-travelers/kidnap-ransom)
- [Marsh vs Travelers Management Liability Insurance](https://spot.insure/compare/marsh-vs-travelers/management-liability)
- [Marsh vs Travelers Professional Liability (E&O) Insurance](https://spot.insure/compare/marsh-vs-travelers/professional-errors-omissions)
- [Marsh vs Travelers Surety Bonds](https://spot.insure/compare/marsh-vs-travelers/surety-bonds)
- [Marsh vs Travelers Tech E&O Insurance](https://spot.insure/compare/marsh-vs-travelers/technology-errors-omissions)
- [Marsh vs Travelers Workers’ Compensation Insurance](https://spot.insure/compare/marsh-vs-travelers/workers-compensation)
- [Alliance Risk vs Marsh Fiduciary Liability Insurance](https://spot.insure/compare/alliance-risk-vs-marsh/fiduciary)
- [Alliance Risk vs Travelers Fiduciary Liability Insurance](https://spot.insure/compare/alliance-risk-vs-travelers/fiduciary)
- [Beazley vs Marsh Fiduciary Liability Insurance](https://spot.insure/compare/beazley-vs-marsh/fiduciary)
- [Beazley vs Travelers Fiduciary Liability Insurance](https://spot.insure/compare/beazley-vs-travelers/fiduciary)
- [Chubb vs Marsh Fiduciary Liability Insurance](https://spot.insure/compare/chubb-vs-marsh/fiduciary)
- [Chubb vs Travelers Fiduciary Liability Insurance](https://spot.insure/compare/chubb-vs-travelers/fiduciary)

## Sources

### Marsh

1. [Marsh | Leader in risk, strategy, people, and investments](https://www.marsh.com/en/home.html). Marsh; Hero and capability tiles; FAQ: What does Marsh do?; industries served; Is Marsh the same as Marsh McLennan? January 2026 brand change. Accessed 2026-09-16.
2. [Compensation guide for US clients](https://www.marsh.com/content/dam/marsh/Documents/PDF/US-en/us-client-compensation-guide.pdf). Marsh; US broking segments; broker role; retail commissions, client fees, wholesale, insurer consulting, contingent and supplemental commissions; Marsh LLC and Marsh USA LLC; page 3: broker role and Marsh & McLennan Agency segment; page 7: copyright © 2024 Marsh LLC. Accessed 2026-09-16.
3. [Marsh McLennan Agency (MMA)](https://www.marsh.com/en/services/marsh-mclennan-agency.html). Marsh; Middle-market US organizations; wholly-owned subsidiary; business insurance, employee health and benefits, retirement, private client. Accessed 2026-09-16.
4. [Technology | Insurance Broking & Risk Management](https://www.marsh.com/en/industries/technology.html). Marsh; Opening Technology Practice description; practice links including data center insurance, fintech and Stratus; Talk to us. Accessed 2026-09-16.
5. [Fiduciary liability](https://www.marsh.com/en/services/financial-professional-liability/expertise/fiduciary.html). Marsh; Protection, Flexibility, Security summary; FAQs: What is covered under a fiduciary liability policy?; What is not covered?; Who is covered?; Why Marsh. Accessed 2026-09-23.
6. [Expert Executive and Professional Liability Insurance](https://www.marshmma.com/us/solutions/executive-and-professional-liability.html). Marsh McLennan Agency; Our policies include D&O, E&O, EPL, commercial crime/fidelity, network security privacy risk/cyber, fiduciary, media liability, IP, architects and engineers, lawyers professional, and kidnap and ransom. Accessed 2026-09-23.

### Travelers

7. [Technology Insurance](https://www.travelers.com/business-insurance/technology). Travelers; Technology insurance products we offer: CyberRisk Tech, Global Companion Plus+, general liability, commercial property, workers compensation, commercial auto, umbrella; startup-to-established-leader audience. Accessed 2026-09-16.
8. [Travelers Producer Compensation Disclosure (United States)](https://www.travelers.com/about-travelers/producer-compensation-disclosure). Travelers; Independent producers; seven compensation types; Simply Business, Inc. and InsuraMatch, LLC ownership; The Travelers Indemnity Company footer; Northfield Excess & Surplus Lines product list. Accessed 2026-09-16.
9. [Contact Us](https://www.travelers.com/contact-us). Travelers; Business insurance sold through independent agents; business claims 1.800.238.6225; MyTravelers for business features. Accessed 2026-09-16.
10. [Fiduciary Liability Insurance](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability). Travelers; What Is Fiduciary Liability Insurance?; What does fiduciary liability insurance cover?; Who is fiduciary liability insurance right for?; video legal footer naming Travelers Casualty and Surety Company of America. Accessed 2026-09-23.

### Fiduciary Liability Insurance Guide

11. [Field Assistance Bulletin No. 2008-04: Guidance Regarding ERISA Fidelity Bonding Requirements](https://www.dol.gov/sites/dolgov/files/ebsa/employers-and-advisers/guidance/field-assistance-bulletins/erisa-fidelity-bonding-requirements.pdf). U.S. Department of Labor, Employee Benefits Security Administration; Q2 pp.2–3. Accessed 2026-09-16.
12. [Fiduciary Liability Insurance](https://www.travelers.com/business-insurance/professional-liability-insurance/fiduciary-liability). Travelers; What Is Fiduciary Liability Insurance?. Accessed 2026-09-16.

Updated 2026-09-24. Spot, a product of Tools for Enlightenment, publishes this research and works in the commercial insurance market. The comparison applies the same criteria to both providers. [Editorial policy](https://spot.insure/editorial-policy). To suggest a correction, [contact Spot](https://spot.insure/contact) with the page URL and supporting source.

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