What Does Fiduciary Liability Insurance Cover?
Fiduciary liability may pay defense costs, settlements, or judgments for covered benefit-plan claims, subject to policy terms.
Do not assume that a coverage label promises payment for every plan dispute, benefit shortfall, fine, or correction cost.
Check the actual insuring agreement, definitions, exclusions and exceptions, scheduled plans and insureds, limit, retention, claims-made and reporting provisions, and whether defense expenses erode the limit. Ask whether any requested extensions or endorsements are included in the quote and obtain the issued forms before relying on them.
