For employers and plan fiduciaries who sponsor 401(k), retirement, and employee benefit plans, protect yourself from personal liability when a participant claims the plan was mismanaged. We cover ERISA exposure, legal defense, and settlements, with fast quotes from a tech-forward Utah brokerage.
Fiduciary Liability insurance protects business owners, officers, and anyone who manages an employee benefit or retirement plan from personal liability tied to how that plan is run. Under the Employee Retirement Income Security Act (ERISA), plan fiduciaries can be held personally responsible, out of their own assets, for losses caused by a breach of their duties. This coverage responds when a participant or regulator alleges the plan was mismanaged, and it pays for legal defense and covered settlements.
If your Utah business sponsors a 401(k), profit-sharing, pension, or health and welfare plan, ERISA likely makes you a fiduciary, even if you've outsourced the day-to-day work to a third-party administrator or advisor. Common claims involve imprudent investment choices, excessive plan fees, errors in enrollment or benefit calculations, late deposits of employee contributions, and conflicts of interest. General liability and Directors & Officers policies typically don't cover these benefit-plan exposures, which is why a dedicated fiduciary policy matters.
Fiduciary Liability is essential for employers of every size, from small businesses and startups in the Silicon Slopes corridor to established Utah companies, as well as the owners, HR leaders, trustees, and benefits committee members who oversee these plans. It is also frequently bundled with a broader management liability program. We help you place coverage with respected carriers including The Hartford, CNA, Travelers, and Hiscox, matched to your plan size, structure, and risk profile.
As an independent, tech-forward Utah brokerage, we shop your Fiduciary Liability coverage across multiple carriers rather than quoting a single option, so you get appropriate limits and a fair price. Many plan sponsors can be quoted and bound quickly so you can keep offering benefits with confidence.
Allegations that you failed the duties ERISA places on plan fiduciaries.
Claims over investment selection, excessive fees, or plan options.
Enrollment, recordkeeping, and benefit-calculation mistakes.
Attorney fees, court costs, and settlements for covered claims.
Sponsoring a 401(k), retirement, or employee benefit plan? Apply online in minutes and our licensed agents will compare rates across our top-rated fiduciary liability carriers to match your plan with the right limits and policy structure.
We handle the quoting, paperwork, and certificate of insurance so you can keep offering benefits with confidence.
Through our trusted MGA partner, BTIS (Builders & Tradesmen's Insurance Services), we can quote a wide variety of business niches — from contractors and small retail shops to professional offices and specialty risks. This partnership gives us access to a network of top-rated national carriers, allowing us to deliver competitive pricing and tailored coverage options across hundreds of industries.
