Under ERISA, fiduciaries are personally liable for losses to benefit plans incurred as a result of their alleged breach of duties – even if it was unintentional. And in today's litigious society, people who perceive they have been wronged react with lawsuits that can cost millions of dollars to defend and settle. This policy is designed to help protect companies, their fiduciaries, and the benefit plans they manage against fiduciary liability claims.
Provides protection for fiduciaries who can be held personally liable for losses to benefit plans incurred as a result of their alleged breach of duties
Who May Sue you and Why: How to Reduce Your ERISA Risks and the Role of Fiduciary Liability Insurance