Do you need ForeFront PortfolioSM for Not-for-Profit Organizations? Check out our Risk Analyzer.
Under the Employee Retirement Income Security Act of 1974 (ERISA), fiduciaries—that is, any employee who has discretionary
authority over a plan or who assists in its administration—can be held personally liable for losses to a benefit plan incurred as a result of their alleged errors, omissions, or breach of their fiduciary
Moreover, designated fiduciaries may not be the only targets of such lawsuits; targets can also include the employer or the
plan itself. Suits can be brought by plan participants, participants’ legal estates, the Department of Labor, and the Pension
Benefit Guaranty Corporation alleging:
Improper advice or disclosure.
Inappropriate selection of advisors or service providers.
Breach of responsibilities or fiduciary duties imposed by ERISA.
Conflict of interest with regard to investments.
Lack of investment diversity.
Negligence in the administration of a plan.
In order to help protect not-for-profit organizations, their fiduciaries, and the benefit plans they manage against fiduciary
liability claims, Chubb offers ForeFront Portfolio for Not-for-Profit Organizations Fiduciary Liability Insurance coverage.
ForeFront Portfolio for Not-for-Profit Organizations Fiduciary Liability Insurance is the surprisingly affordable insurance
To view other ForeFront Portfolio for Not-for-Profit Organizations coverages, please select one of these items: