Benefitting those who manage benefit plans.

If your company offers an employee benefit, retirement, or pension plan, then you are a likely candidate for fiduciary liability insurance.

In a nutshell, fiduciary liability insurance covers you against certain liabilities should your employees feel that you have failed to manage the plan in a way that serves the interests of all participants. For example, fiduciary liability claims may arise from allegations of improper investments or breach of fiduciary duties in the plan’s management.

Let us help you like we’ve helped many other businesses in New Jersey, Pennsylvania, and Connecticut, including companies in Mercer, Middlesex, Monmouth, and Ocean Counties, as well as Bucks County, PA. We offer up-to-date solutions to address targeted areas of exposure that most threaten your organization.

Even when you’re trying to do something good, bad things can happen.

Handling financial or medical benefits plans can be highly complex, and insuring your fiduciaries reflects this reality. Breach of fiduciary duties spans a wide range of possibilities. It can involve an error or negligence in administering a plan, including but not necessarily limited to: misinterpretation of plan documents, providing imprudent investment options to plan participants, misrepresenting investments, mishandling enrollment or other paperwork, and giving bad advice or faulty instructions to participants.

Coverage can be issued either to the employer that sponsors the benefits plan or to the plan itself. It is appropriate for retirement plans, health plans, life insurance and disability plans, and employee benefits plans of all kinds.

At Martin, we understand the complex financial services environment and risks associated and will provide you with solid advice and top-quality insurance at a reasonable price. Our policies can cover expenses associated with civil lawsuits, written demands for damages that haven’t proceeded to court, administrative or regulatory actions, and investigations by the government or an official agency.

What’s more, policy options include legal defense fees, awards to or settlements with claimants, and voluntary correction programs even when there isn’t a claim. The specific coverage you receive depends on the insurance agreement you choose. We can also provide ERISA bonds, which are required by law for all applicable plans, as well as employment benefit liability insurance endorsements, which can enhance a general liability insurance policy to cover errors in the administration of a plan.

Call now to speak with a representative about fiduciary liability insurance. Martin has the experience and expertise to protect you and your business. We invite you to find out more about the difference we can make in insuring what’s important to you. Please click here for a quote or give us a call at 800.353.5000.