Does D&O Cover Breach of Fiduciary Duty?
D&O may cover a fiduciary-duty claim about corporate management, while benefit-plan duties may require fiduciary liability insurance.
The phrase can refer to different roles. Check whether the allegation concerns company governance or administering an employee benefit plan before relying on D&O.
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.
