If your company sponsors an employee benefit plan, you are exposed to issues related to your fiduciary responsibility. Fiduciary insurance provides protection against claims for mishandling or misappropriating funds of others. Including, but not limited to, breach of duty & wrongful acts by plan administrators, providing imprudent investment options to plan participants, misrepresenting investments, mishandling enrollment, or other paperwork and giving bad advice or faulty instructions to participants.
Fiduciary liability insurance is appropriate for retirement plans, health plans, life insurance and disability plans, and employee benefits plans of all kinds. Coverage is not limited to ERISA plans, so if you have a non-ERISA benefits plan for which you need fiduciary liability insurance, be sure to talk to the specialists at HAWK to discover your choices.
We also offer ERISA bonds, which are required by law for all applicable plans, as well as employee benefit liability insurance endorsements, which can enhance a general liability insurance policy to cover errors in the administration of a plan.
Start a conversation with a HAWK Commercial Adviser to discuss coverage options best suited for your operations and risk tolerance.