Does Fiduciary Liability Cover Trustees?
Trustees may be covered when acting as insured fiduciaries for a covered plan.
ERISA fiduciary status can follow authority over plan management or assets. Confirm the trustee’s role and plan are included in the policy.
Check whether named, appointed, independent, and former trustees qualify; whether a corporate trustee or outside fiduciary is covered; and whether the policy has an insured-versus-insured exclusion or allocation terms. Confirm how defense costs are handled if a claim names both insured and uninsured parties. The quote should identify covered plans and persons clearly, and any requested trustee extension should appear in an issued endorsement rather than only a marketing summary.
