Trustees of employee benefit plans have a duty to act in the best interests of their plan participants. They may even be held personally liable for the decisions they make. In today’s litigious environment, concerns about a benefits plan can quickly escalate into a lawsuit, which may cost millions of dollars to defend and settle. To help protect your company, fiduciaries, and the benefit plans they manage, Chubb provides Fiduciary Liability Coverage and has taken broad coverage to the next level with our new Fiduciary Liability Settlor Plus Endorsement.
- The legal rules in Canada governing employee benefit plans are complex.
- You, as a fiduciary, can be held liable for losses to a benefit plan incurred as a result of alleged errors, omissions, or breach of their fiduciary duties.
- Protection from Chubb is available for every type of publicly held company – of any size in any industry.