Fiduciary Liability Insurance
Providing Insurance in New Madrid, Missouri
Fiduciary Liability Insurance Solutions
Individuals serving as ERISA fiduciaries are shielded against fiduciary-related allegations of employee benefit plan mismanagement by fiduciary liability insurance. We'll cooperate with you to safeguard your trustees and manage employee benefits carefully.
Our specialists can assist you in getting a fiduciary liability insurance coverage for your company. So get in touch now!
Fiduciary Liability Coverage:
A highly unique danger that might have catastrophic financial effects is covered by fiduciary liability insurance. The Employee Retirement Security Act of 1974 (ERISA), which oversees many employee benefit plans, introduces the danger of fiduciary duty violations.
Fiduciary obligations apply to business officers in charge of such plans. As a result, they are morally and legally obligated to act in the interests of the employees, and they risk legal action if they don't (even unintentionally). Making poor investment selections for the plan might constitute a breach of this obligation.
According to ERISA, a fiduciary may be held financially liable for making up any losses resulting from their alleged errors or inadequacies. When it comes to a workforce's retirement benefits, this can result in staggering costs.
A specialized fiduciary liability policy is the best method to reduce this risk because many general liability insurance plans do not cover ERISA-related claims.
Plans often cover the expenses of paying out any liabilities and defending against claims. Fiduciary liability insurance frequently also provides access to knowledgeable attorneys who focus on ERISA cases.
Fiduciary Liability Insurance Form
One of our insurance advisors will reach out to you to review your information and present you with the appropriate Fiduciary Liability insurance solution. There’s no obligation, just good-old-fashioned advice.