Does D&O Cover Breach of Fiduciary Duty?

A fiduciary-duty allegation may concern corporate governance or management, which Triple-I identifies as a potential D&O claim. The same phrase can also describe duties under an employee benefit plan, where ERISA fiduciary liability is a separate exposure. DOL explains that fiduciary status under ERISA depends on plan functions such as discretion or control, not job title alone. Check which relationship and duty the complaint concerns, the D&O wording, any fiduciary or ERISA exclusion, and whether separate fiduciary liability coverage is in force.

Corporate fiduciary-duty allegations may fall within D&O’s defined wrongful acts, but duties relating to a retirement or benefit plan raise a different coverage question. DOL explains that ERISA fiduciary status depends on functions such as discretion or control over plan assets, not simply title. A plan fiduciary might have individual D&O protection for one management claim yet face an ERISA exclusion for plan conduct. Side A/B/C do not replace a dedicated fiduciary-liability grant. Identify the plan and capacity involved, read the D&O exclusion and any exception, and confirm which policy covers defense and loss for benefit-plan claims.