If your business offers employee benefit plans, such as retirement or health plans, you take on fiduciary responsibilities. Fiduciary liability insurance helps protect your business and decision-makers from claims related to the management and administration of those plans. At Maple City Insurance Services, we help businesses find fiduciary liability coverage tailored to their plans, responsibilities, and level of risk.

What Fiduciary Liability Insurance Covers

Breach of Fiduciary Duty
Covers claims alleging mismanagement, errors, or failure to act in the best interest of plan participants.

Administrative Errors
Protection for mistakes in plan administration, such as enrollment issues, benefit calculations, or communication errors.

Legal Defense Costs
Helps cover attorney fees, court costs, settlements, and judgments associated with covered claims.

Regulatory Investigations
Coverage for costs related to investigations or actions by regulatory agencies.

Who Needs Fiduciary Liability Insurance?

Fiduciary liability insurance is important for:

• Businesses offering employee benefit plans

• Plan administrators and trustees

• Employers with 401(k), pension, or health benefit plans

• Organizations responsible for managing employee funds

If you have any role in managing or overseeing employee benefit plans, this coverage is essential.

Why Fiduciary Liability Insurance Matters

Fiduciary responsibilities are governed by strict regulations, and even unintentional mistakes can lead to costly claims or penalties. Standard business policies typically do not cover these risks.

Fiduciary liability insurance helps protect your business and its leaders from financial loss related to plan management.

What Types of Claims Can Be Covered?

• Mismanagement of plan assets

• Failure to properly administer benefits

• Improper investment decisions

• Errors in plan communication

• Failure to follow plan documents or regulations