Fiduciaries of all types of employee benefit plans are increasingly being held accountable for their actions in operating and administering these plans. Chubb’s comprehensive solution is designed specifically to help protect your fiduciaries and the benefits plans you manage.
Chubb has leveraged our four decades of fiduciary experience to craft a best in class policy for publicly traded companies and financial institutions, incorporating sought after terms with innovative new offerings to create a better customer experience – from the ease of purchasing a world-class, comprehensive policy to the flexibility of choosing how and when to use your coverage.
ERISA established strict standards of fiduciary conduct. Specific to privately owned companies, Chubb’s Fiduciary Liability coverage addresses the unique exposures plan fiduciaries are increasingly being faced with for their actions in administering the benefit plans that are offered to employees.
Fiduciary Liability Insurance for Multiemployer & Public Sector Benefit Plans
In such a rapidly evolving legal landscape, the responsibilities that trustees carry can be daunting. The Multiemployer Plan Fiduciary Liability Policy covers unique needs of multiemployer health, welfare, pension, and other employee benefit plans. The policy can also be customized to cover public sector benefit plans.
While Fiduciary Liability Insurance is a key piece of any program to protect against liability related to managing or administering employee benefit plans, any comprehensive risk management program should include loss prevention measures. This includes training plan fiduciaries and company employees on best practices as well as reviewing plan documents and procedures to ensure they are updated, reasonable and compliant. Chubb is proud to facilitate our policyholder’s access to superior loss prevention services, including Excessive Fee Mitigation Services, at discounted rates.