Tag Archives: fiduciary liability

Understanding Fiduciary Liability Insurance and ERISA

Understanding Fiduciary Liability Insurance and ERISAThere is often a lot of confusion regarding the insurance needs of fiduciaries and retirement plan officials and whether an Employee Retirement Income Security Act (ERISA) bond is the same thing as Fiduciary Liability insurance. ERISA bonds and Fiduciary Liability Insurance have similar goals, but are not the same. This article aims to better explain the differences of both, and clear up any misunderstandings.

Fiduciary liability insurance, sometimes called …

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The Must-Have Coverage for Plan Sponsors: Fiduciary Liability Insurance

 The Must-Have Coverage for Plan Sponsors Fiduciary Liability InsuranceEmployee benefit plan vendor selection and compensation arrangements made by an employer or union, association or other employee benefit plan sponsors, fiduciaries and service providers are coming under increasing scrutiny by the Employee Benefits Security Administration (EBSA). While the Employee Retirement Income Security Act of 1974 (ERISA) technically grants plan sponsors and fiduciaries wide latitude to execute these choices, the exercise of these powers also comes with tremendous responsibility. ERISA, …

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Avoiding Common Fiduciary Mistakes

Avoiding Common Fiduciary MistakesFiduciary Liability insurance helps protect the personal assets of company fiduciaries, in addition to the financial assets of the company and employee benefit plans against lawsuits. Insurance coverage will be pay for lawsuit defense costs, judgments, and settlements. Some policies can be designed to pay for negotiations over demands for damages outside of litigation, costs associated with regulatory actions or governmental investigations, settlements and damage awards. Some also offer help …

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The Impact of LIBOR Scandal on D&O, E&O, and Fiduciary Liability

The Impact of LIBOR Scandal on D&O, E&O, and Fiduciary LiabilityThe Impact of LIBOR Scandal on D&O, E&O, and Fiduciary Liability

The LIBOR (London Interbank Offered Rate) scandal in which interests rates were manipulated could have far-reaching effects when it comes to directors and officers, errors and omissions, and fiduciary liability lawsuits. According to the Chicago Tribune, “some of the world’s largest insurers for corporate directors and officers could be on the hook for hundreds of millions of dollars …

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