What Are Examples of Fiduciary Liability Claims?
Examples include allegations of imprudent 401(k) fees or enrollment errors that affect benefits; coverage depends on the policy.
A participant might claim the committee failed to monitor investments or that an enrollment error reduced benefits. These hypothetical claims are not guarantees of payment.
A claim’s allegations, requested relief, insured status, and timing all matter. A policy may treat defense costs, benefits owed, restitution, injunctions, or penalties differently. Save the demand and related plan records, notify the carrier as required, and avoid agreeing to a settlement or incurring costs without checking consent rules. For the quote, compare the relevant definitions and exclusions against the kinds of disputes your plan could face.
