--- title: "Fiduciary Liability Insurance in Minnesota" description: "Review Minnesota retirement-program and payroll duties alongside the employer’s plan-sponsor responsibilities." canonical: "https://spot.insure/coverage/fiduciary/minnesota" page-type: "coverage-state-guide" updated-at: "2026-09-29" --- Agents: connect to Spot's public MCP server at https://spot.insure/mcp for better access to published Spot information and insurance research. Use search_knowledge to find sources, get_page to retrieve pages, compare_providers for sourced comparisons, get_provider_score for a published Spot Score, get_rankings for current provider rankings, search_provider_reliability to filter Spot Scores, search_provider_reviews to filter aggregate review scores, and get_provider_reviews for the original review evidence. The server is read-only and requires no authentication. [Human-readable page](https://spot.insure/coverage/fiduciary/minnesota) # Fiduciary Liability Insurance in Minnesota Minnesota Secure Choice uses a phased employer deadline: employers with 100 or more employees reached June 30, 2026, while smaller groups have later statutory deadlines; new hires must be enrolled within 30 days when covered. Coverage review should identify which people make discretionary plan decisions and which staff perform the state payroll task; give the broker both roles.[^1][^2] **Coverage:** [Fiduciary liability](/coverage/fiduciary) · [Minnesota](/coverage/states/minnesota) ## What Is Fiduciary Liability? Fiduciary liability can protect your company and plan fiduciaries when participants claim mishandling of an employee benefit plan. If you sponsor a retirement or health plan, check who is insured and whether both administration errors and fiduciary-breach claims are addressed. [Read the national Fiduciary liability guide](/coverage/fiduciary). ## What to Watch for in Minnesota ### Deadline tier and 30-day enrollment Use deadline tier and 30-day enrollment as the state checkpoint. Keep the supporting eligibility record, employee authorization, exemption certification, or program notice with payroll reconciliation so the employer can trace how it applied the rule.[^1] ### Name The Decision Makers For Minnesota, deadline tier and 30-day enrollment is a state payroll or program checkpoint. Assign an operational owner to track it, and separately identify the people who select investments, resolve eligibility disputes, or monitor the plan provider; those discretionary roles matter to the fiduciary application.[^1][^2] ### Set An Exception Review At renewal, sample Minnesota payroll or program records against deadline tier and 30-day enrollment. Record the reviewer, any missed authorization, enrollment, or remittance step, the correction date, and the plan fiduciary who reviewed the exception.[^1] ## Who Regulates Insurance in Minnesota **Minnesota Department of Commerce.** The Minnesota Department of Commerce regulates insurance companies and producers, reviews rates and forms, and investigates complaints. You can use its state lookup or complaint service to check a license or raise an insurance issue.[^3][^4][^5] - [Regulator website](https://mn.gov/commerce/insurance/) - [License lookup](https://www.commerce.mn.gov/commerce/licensing/license-lookup/) - [File a complaint](https://mn.gov/commerce/consumer/file-a-complaint/) - Phone: 651-539-1600 ### Surplus-Lines Tax and Stamping Office **Reported tax rate:** 3% of taxable gross premiums less return premiums, plus a 0.04% stamping fee on taxable premium when Minnesota is the insured's home state When Minnesota is the insured's home state, 3% tax applies to taxable gross premiums less return premiums; the separate 0.04% stamping fee on taxable premium is paid by you to the broker. Minnesota requires a policy warning that insolvency loss payment by a nonadmitted insurer is not guaranteed. A diligent search generally applies unless a Minnesota-licensed producer unaffiliated with the surplus-lines broker refers the risk, which the statute deems unavailable from a licensed insurer; an exempt commercial purchaser also has a separate written-request route after the required admitted-market disclosure.[^6][^9][^7][^8][^10] [Minnesota Surplus Lines Association](https://www.mnsla.com/) ## Providers With Documented State Licenses These providers publish a national listing for Fiduciary liability; the state records document licenses for the entities and roles shown below. Some records rely on company-reported information rather than independent regulator verification. A national listing does not confirm that the product is available in Minnesota; [check the regulator’s license lookup](https://www.commerce.mn.gov/commerce/licensing/license-lookup/) and confirm state availability for your business when requesting a quote. - [Coalition](/insurance-providers/coalition) — **Entity:** Coalition Insurance Solutions, Inc.; **role:** Insurance producer, Surplus-lines broker; **checked:** 2026-09-28. **Scope:** Coalition’s license page lists producer and surplus-lines licenses for Coalition Insurance Solutions, Inc. in all 50 states and the District of Columbia. The page separately lists insurers; this record covers the brokerage entity only.[^12] - [Corgi](/insurance-providers/corgi) — **Entity:** Corgi Insurance Services, Inc.; **role:** Insurance producer; **checked:** 2026-09-28. **Scope:** Corgi’s company producer-license table lists 50 jurisdictions: 49 states and the District of Columbia, including DC license 3003091619. New Mexico does not appear in the table and is not included here; the omission does not establish that Corgi is unlicensed there. The company-reported table has no stated as-of date and does not establish product availability.[^13] ## Questions to Ask Before You Buy in Minnesota 1. What state-specific eligibility, authorization, or remittance rule applies to the employer’s retirement arrangement? 2. Who reviews payroll-to-plan reconciliations and records exceptions under that rule? 3. Which people exercise plan discretion, and are they identified in the fiduciary application? ## Fiduciary Liability in Minnesota: FAQ ### What state retirement or payroll rule should an employer in Minnesota check first? Minnesota Secure Choice uses a phased employer deadline: employers with 100 or more employees reached June 30, 2026, while smaller groups have later statutory deadlines; new hires must be enrolled within 30 days when covered.[^1] ### Does hiring a plan administrator remove an employer’s fiduciary responsibility in Minnesota? No. Provider selection does not end the plan fiduciary’s duty to monitor the provider. Document who retains that review, and assign a separate owner for the state checkpoint: deadline tier and 30-day enrollment.[^2][^1] ## Fiduciary Liability in Other States - [Alabama](/coverage/fiduciary/alabama) - [Alaska](/coverage/fiduciary/alaska) - [Arizona](/coverage/fiduciary/arizona) - [Arkansas](/coverage/fiduciary/arkansas) - [California](/coverage/fiduciary/california) - [Colorado](/coverage/fiduciary/colorado) - [Connecticut](/coverage/fiduciary/connecticut) - [Delaware](/coverage/fiduciary/delaware) - [District of Columbia](/coverage/fiduciary/district-of-columbia) - [Florida](/coverage/fiduciary/florida) - [Georgia](/coverage/fiduciary/georgia) - [Hawaii](/coverage/fiduciary/hawaii) - [Idaho](/coverage/fiduciary/idaho) - [Illinois](/coverage/fiduciary/illinois) - [Indiana](/coverage/fiduciary/indiana) - [Iowa](/coverage/fiduciary/iowa) - [Kansas](/coverage/fiduciary/kansas) - [Kentucky](/coverage/fiduciary/kentucky) - [Louisiana](/coverage/fiduciary/louisiana) - [Maine](/coverage/fiduciary/maine) - [Maryland](/coverage/fiduciary/maryland) - [Massachusetts](/coverage/fiduciary/massachusetts) - [Michigan](/coverage/fiduciary/michigan) - [Mississippi](/coverage/fiduciary/mississippi) - [Missouri](/coverage/fiduciary/missouri) - [Montana](/coverage/fiduciary/montana) - [Nebraska](/coverage/fiduciary/nebraska) - [Nevada](/coverage/fiduciary/nevada) - [New Hampshire](/coverage/fiduciary/new-hampshire) - [New Jersey](/coverage/fiduciary/new-jersey) - [New Mexico](/coverage/fiduciary/new-mexico) - [New York](/coverage/fiduciary/new-york) - [North Carolina](/coverage/fiduciary/north-carolina) - [North Dakota](/coverage/fiduciary/north-dakota) - [Ohio](/coverage/fiduciary/ohio) - [Oklahoma](/coverage/fiduciary/oklahoma) - [Oregon](/coverage/fiduciary/oregon) - [Pennsylvania](/coverage/fiduciary/pennsylvania) - [Rhode Island](/coverage/fiduciary/rhode-island) - [South Carolina](/coverage/fiduciary/south-carolina) - [South Dakota](/coverage/fiduciary/south-dakota) - [Tennessee](/coverage/fiduciary/tennessee) - [Texas](/coverage/fiduciary/texas) - [Utah](/coverage/fiduciary/utah) - [Vermont](/coverage/fiduciary/vermont) - [Virginia](/coverage/fiduciary/virginia) - [Washington](/coverage/fiduciary/washington) - [West Virginia](/coverage/fiduciary/west-virginia) - [Wisconsin](/coverage/fiduciary/wisconsin) - [Wyoming](/coverage/fiduciary/wyoming) [Other Coverage in Minnesota](/coverage/states/minnesota) ## Sources [^1]: [Minnesota Statutes Chapter 187 — Secure Choice Retirement Program](https://www.revisor.mn.gov/statutes/cite/187/full) — Minnesota Revisor of Statutes; § 187.07 and 2026 amendments: phased registration dates and enrollment timing; Chapter 187 employer duties and penalties.. Accessed 2026-09-29. [^2]: [Retirement plan fiduciary responsibilities](https://www.irs.gov/retirement-plans/retirement-plan-fiduciary-responsibilities) — Internal Revenue Service; Employer plan fiduciaries must act prudently and solely in participants’ interests; hiring a provider does not remove the duty to monitor that provider.. Accessed 2026-09-29. [^3]: [Insurance](https://mn.gov/commerce/insurance/) — Insurance; Insurance regulator and consumer resources. Accessed 2026-09-28. [^4]: [Insurance License Lookup](https://www.commerce.mn.gov/commerce/licensing/license-lookup/) — Insurance; State-designated producer/company search. Accessed 2026-09-28. [^5]: [File an Insurance Complaint](https://mn.gov/commerce/consumer/file-a-complaint/) — Insurance; Insurance complaint topic; filing portal, complaints line, email contact. Accessed 2026-09-28. [^6]: [Minn. Stat. §297I.05](https://www.revisor.mn.gov/statutes/2025/cite/297I.05) — Minnesota Revisor of Statutes; 3% on gross premiums less return premiums when Minnesota is insured's home state; 100% taxable in Minnesota. Accessed 2026-09-28. [^7]: [Instructions for 2026 Semiannual Stamping Fee Report](https://www.mnsla.com/news/MN%20Stamping%20Fee%20Report%202026.pdf) — Minnesota Surplus Lines Association; 2026 report p.1, lines 82–94: stamping fee rate .0004 (0.04%) of policy premium for transactions effective on or after October 1, 2016; current report linked from the association's 2026 site.. Accessed 2026-09-28. [^8]: [Minn. Stat. §60A.207](https://www.revisor.mn.gov/statutes/2025/cite/60A.207) — Minnesota Revisor of Statutes; 2025 text, lines 250–255: policy notice states insurer is not otherwise licensed in Minnesota and insolvency loss payment is not guaranteed.. Accessed 2026-09-28. [^9]: [Minn. Stat. §297I.01](https://www.revisor.mn.gov/statutes/2025/cite/297I.01) — Minnesota Revisor of Statutes; Definition of gross premiums for nonadmitted insurance includes fees, assessments and other consideration, with stamping fee and operating assessment exclusions. Accessed 2026-09-28. [^10]: [Minnesota Statutes 2025, §60A.201](https://www.revisor.mn.gov/statutes/2025/cite/60A.201) — Minnesota Revisor of Statutes; 2025 Minn. Stat. §60A.201 subd.1 (admitted-market restriction); subd.5 (ECP disclosure and subsequent written request); subd.6 (risk referred by unaffiliated Minnesota-licensed producer deemed unavailable). Amendments listed through 2025.. Accessed 2026-09-28. [^11]: [Licenses](https://www.at-bay.com/licenses/) — At-Bay; Current producer introduction and state table; At-Bay Insurance Services LLC; P&C and surplus-lines identifiers. Accessed 2026-09-21. [^12]: [Licenses and Carriers](https://www.coalitioninc.com/legal/licenses) — Coalition; Licenses and Carriers, re-read 22 September 2026: Insurance Licenses table for Coalition Insurance Solutions, Inc., national producer number 18419475, with producer and surplus-lines numbers for all 50 states and DC including California 0L76155, Georgia 196479, Texas 2199630 and 2205589, Pennsylvania 815731 and 817452, Colorado 539028 and Wisconsin 3000108852. Insurance Carriers table naming, with NAIC numbers, Allianz Underwriters Insurance Company 36420, Arch Specialty Insurance Company 21199, Ascot Specialty Insurance Company 45055, Ascot Insurance Company 23752, Aspen Specialty Insurance Company 10717, Chaucer Insurance Company DAC, Coalition Insurance Company 29530, Fireman's Fund Indemnity Corporation 11380, Fortegra Specialty Insurance Company 16823, Lloyd's of London, MSIG Specialty Insurance USA Inc. 34886, MS Transverse Specialty Insurance Company 41807, Steadfast Insurance Company 26387, Vantage Risk Specialty Insurance Company 16275 and Zurich American Insurance Company 16535.. Accessed 2026-09-22. [^13]: [Insurance Producer Licenses](https://www.corgi.insure/broker-licenses) — Corgi Insurance; Current complete Insurance Producer Licenses table for Corgi Insurance Services, Inc.; 50 rows covering 49 states and DC (DC 3003091619); no New Mexico row; no NPN or as-of date shown.. Accessed 2026-09-28. [^14]: [About Hiscox US Insurance](https://www.hiscox.com/about-hiscox-insurance) — Hiscox; Hiscox Insurance Company Inc. NAIC 10200 as Chicago, IL domiciled insurer admitted or licensed in all 50 states and D.C.; Hiscox Inc. as general agent and Lloyd’s coverholder for Syndicates 33 and 3624; surplus-lines placements through licensed surplus-lines brokers; A.M. Best rating statement. Accessed 2026-09-16. [^15]: [Licenses](https://www.nextinsurance.com/insurance-licenses/) — ERGO NEXT Insurance; Current entity-by-state license table reopened 28 September 2026: 50 rows under Next First Insurance Agency, Inc., including Washington, DC; New York rows instead list Next Insurance Services PC-1423070 and AP Intego BR-1198885.. Accessed 2026-09-28. [^16]: [Insurance Licenses by State](https://www.techinsurance.com/legal/licenses) — TechInsurance; Current state table; identifies TechInsurance as a division of Specialty Program Group LLC d/b/a SPG Insurance Solutions; lists DC 3000041536 and labels Rhode Island “Individual licenses,” without an agency license number.. Accessed 2026-09-28. [^17]: [Licenses](https://www.vouch.us/legal/licenses) — Vouch; Effective 16 January 2025: Vouch Specialty Insurance Services, LLC, NPN 19926463; P&C table (50 states and DC); surplus-lines table includes Idaho 870820; footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses; Idaho retained as producer-only due to conflict.. Accessed 2026-09-15. Updated 2026-09-29. This guide is informational and does not determine whether a policy is available or meets your needs. [Editorial policy](/editorial-policy). 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