Any member of an organization who is involved in managing employee pensions, savings, profit-sharing, benefits, and welfare plans are considered "Fiduciaries." These individuals can be held liable if they breach or neglect their fiduciary duties.
How can this benefit your organization?
- Protects fiduciaries against legal liability for claims arising out of their roles.
- Protection from common claims including:
- administrative error
- wrongful termination of a plan
- improper advice
- conflicts of interest
- Provides specialty coverage that is not provided by Directors and Officers coverage, or by Employee Benefits Liability Coverage.