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Trustees of governmental health, welfare, and pension plans hold an essential role in managing these plans to provide benefits to participants, dependents, and beneficiaries. Chubb’s insurance coverage for Public Sectors helps trustees understand how state laws that govern fiduciary conduct could put their personal assets at risk.

Coverage Highlights


  • Unparalleled claim expertise – Chubb has four decades of experience in handling fiduciary claims
  • Continued financial stability as one of A.M. Best Company’s elite highest-ranking insurers
  • Local underwriters and claims examiners with industry and state specific legal expertise
  • Covers ERISA and non-ERISA employee benefit plans
  • Worldwide coverage to the fullest extent permitted by law
  • Access to loss prevention resources


Chubb customizes fiduciary liability coverage to fit the unique needs of our Insured’s plans: 

  • Broad definition of Insured includes the plan as well as its trustees and employees as well as others which can be added by endorsement such as governance boards or committees.
  • Broad definition of Wrongful Act with respect to an insured plan includes breach of duties imposed by common or statutory law, and negligence in the administration of such plan.
  • Expanded definition of Loss can be obtained by endorsement to include coverage for civil penalties where insurable by law. Loss can be further broadened to include:
    • Compensatory damages
    • Punitive, exemplary and multiplied damages where insurable by law
    • Reasonable fees and expenses of an independent fiduciary retained to review a proposed settlement of a covered claim
    • Benefit Overpayment Insuring Clause
    • Other Taxes, Fines, or Penalties
    • Trustee Non-Fiduciary Defense Costs
    • Umbrella for Civil Penalties
  • Duty to Defend can be amended to include option for Insured to select defense counsel.
  • Additional insuring clauses cover Voluntary Program Losses and Interview Coverage.

Related Materials

Why Do Trustees of Benefit Plans Need Fiduciary Liability Insurance?

Fiduciary rules and state laws governing fiduciary conduct lay out restrictions those managing governmental health, welfare, and benefit plans must adhere to. Read more on how Chubb’s insurance coverage for Public Sector plans can help eliminate risk as a trustee.