Does Fiduciary Liability Cover Pension Plans?
Fiduciary liability may cover pension-plan claims when the plan is included in the policy and the claim meets its terms.
Defined-benefit and multiemployer plans can have different exposures. Check the plan schedule and definitions rather than relying on a generic pension reference.
List each pension plan by legal name and type when requesting a quote, including any multiemployer or acquired arrangement. Check whether the policy automatically includes new plans or requires notice or insurer consent, and whether the insured sponsor, trustees, committee members, and administrators are included. Compare claims-made dates, exclusions, defense-cost limits, retention, and treatment of benefit amounts or plan losses in the specific issued wording.
