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The Chubb Primary℠ Fiduciary Liability Insurance

Through The Chubb PrimarySM Fiduciary Liability Insurance, we’ve leveraged our four decades of fiduciary experience to craft a best in class policy, 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.

Coverage Highlights


  • Traditional Claims – Coverage for written demands for monetary damages, civil and criminal complaints and formal investigations involving breaches of fiduciary duty under ERISA and errors in administering employee benefit plans, as well as fiduciary capacity backstop coverage for claims made against a fiduciary solely because they happen to be a plan fiduciary.
  • Fines and Penalties – Unlimited coverage for ERISA §502(i) and 502(l) fines as well as certain penalties under English law.
  • Voluntary Settlement Programs – First party coverage for companies that discover an issue and want to address it by participating in a governmental correction program.
  • Notice of Potential Claims – Ability to preserve rights to coverage under a current policy for future potential claims that might be made after the policy expires
  • Former Plans and Subsidiaries – Continuing protection for terminated plans and former subsidiaries for prior conduct if the policy is renewed with Chubb.
  • Liberal Claim Reporting and Notice – Up to 180 days after expiration of a policy that has been renewed, plus waiver of this time period where the Insured demonstrates that it was not reasonably possible to provide notice within 180 days.
  • Flexible Defense and Settlement – Flexible option for the Insured to assume the defense of a new claim or to let the duty to defend remain with Chubb, along with the ability to settle within the retention without Chubb’s consent and the potential to obtain coverage for some Defense Costs incurred prior to submission.
  • Globalized Coverage Language and Globally Integrated Capabilities – Equivalency language for statutory and common law that globalizes the policy, along with a global network and affiliated broker relationships for procuring locally admitted policies.

Innovative Coverage

The Chubb Primary Fiduciary Liability insurance product incorporates new offerings that customers commonly request, as well as coverage innovations that are completely new to the market.

New Coverage Innovations

We’ve added innovations that are completely new to the market:

  • Failure to Enroll Demand Coverage – Coverage for plan enrollment errors where the injured party has not filed a formal Claim, which empowers Insureds to quickly resolve sensitive matters, all within the context of Chubb’s renowned coverage for benefits that would have been due but for the failure to enroll.
  • Penalty Suite Additional Sublimit of Liability – An additional sublimit (within policy limits) for fines and penalties which floats above all other fine and penalty sublimits for customers to use if a specific fine or penalty sublimit has been exhausted.