Fiduciary Liability Insurance: What It Is, Who Needs It, and Why It Matters More Than Ever • Benzinga

Understanding Fiduciary Liability Insurance

Fiduciary liability insurance is a specialized form of professional liability coverage designed to protect individuals and organizations that manage employee benefit plans. This includes anyone who exercises discretionary authority or control over a plan's administration or assets—typically employers, HR professionals, and retirement plan trustees.

In the eyes of the law, these fiduciaries are held to a high standard under the Employee Retirement Income Security Act (ERISA) of 1974. If they breach their fiduciary duty—intentionally or not—they can be held personally liable. Fiduciary liability insurance helps protect against the legal and financial fallout of such allegations. Table of Contents

Understanding Fiduciary Liability Insurance

Why