Lockton Fiduciary Liability Insurance

Lockton places fiduciary liability insurance to protect companies and the individuals who manage their employee benefit plans against claims of mismanagement; Lockton is the broker, not the insurer. ¹Company-reportedFiduciary liability product page as read 2026-09-23.

The page does not name the insurers Lockton places fiduciary liability coverage with. ¹Not publicly disclosedFiduciary liability page checked 2026-09-23.

Lockton says coverage under a fiduciary liability policy it places typically extends to the organization, the benefit plans, employees, subsidiaries as defined in the policy, spouses/domestic partners, estates/heirs, past employees retained as fiduciaries or consultants, and committees and trustees. ¹Company-reportedFiduciary liability product page as read 2026-09-23.

Lockton says a typical fiduciary liability policy it places covers breaches of benefit laws, errors and omissions in plan administration, voluntary compliance loss, and, when explicitly stated, certain fines and penalties such as under HIPAA, the Pension Protection Act and the ACA. It also notes fiduciary liability is distinct from an ERISA bond, which is legally required and insures plan assets against theft under a crime/fidelity policy, whereas fiduciary liability is not legally required but covers governance and decision-making risk. ¹Company-reportedFiduciary liability product page as read 2026-09-23. General policy-structure description, not a specimen form.

Lockton's Professional & Executive Risk Claims team integrates insurance and claims counsel within the broking team, which Lockton says is meant to have claims strategy in place before a fiduciary liability claim arises. ¹Company-reportedFiduciary liability product page as read 2026-09-23.