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Fiduciary Liability Insurance

If your company sponsors a retirement or health plan for employees and/or you are involved in any way with the management of that plan, you are more than likely considered a fiduciary. Fiduciaries can be held personally liable for a breach of fiduciary duties. As a fiduciary, you must act solely in the interest of plan participants and beneficiaries NOT the company. That is a lot of responsibility and it comes with potential liability as it relates to:

401(K) Delayed Transfer Balance

Wrongly changed or reduced an employee's benefits

Denied an employee benefits to which they were entitled

ERISA Violation

Mishandling of Funds