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

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. ³Company-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.

Travelers underwrites fiduciary liability insurance as part of its Management & Professional Liability line, sold standalone or alongside other management liability coverages. ⁷Company-reported. Product page general framing; confirmed against the broader Management and Professional Liability Insurance page.

The linked sample policy's declarations identify Berkshire Hathaway Direct Insurance Company as issuer. ²Company-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.

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. ⁷Company-reported. Product page video legal footer.

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. ^3,1Not publicly disclosed. Eligibility and state availability remain unestablished for an individual risk until THREE returns its quote and applicable forms.

Travelers markets fiduciary liability coverage to financial institutions, nonprofit organizations, private companies and public companies. ⁷Company-reported. Product page "Who is fiduciary liability insurance right for?" section.

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. ^3,2Company-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.

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. ⁷Company-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.

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. ^3,2Not publicly disclosed. No number is inferred from the sample policy. The quote and issued declarations control the buyer-specific limit and deductible.

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. ⁷Not found in reviewed sources. Product page video claim scenarios and cost statistics as read on 2026-09-23.

THREE directs small-business prospects to an online quote and says licensed Small Business Advisors can help with the process. ¹Company-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.

Fiduciary liability coverage is bought through a Travelers independent agent. ⁷Company-reported. Product page "Find an insurance agent" call to action.