fiduciary liability

What is it?
What is it?
Fiduciary Liability coverage provides protection to individuals and entities that act as fiduciaries, such as trustees, administrators, directors, or employers offering employee benefit plans. Fiduciaries have a legal duty to act in the best interests of the beneficiaries or participants of the plans they manage, and Fiduciary Liability insurance helps safeguard them against claims arising from alleged breaches of these duties.
Why do you need
Fiduciary Liability?
Protection Against Lawsuits
01
Personal Asset Protection
‍
02
ERISA Compliance Requirements
‍
03
Reputation Management
‍
04

Who would benefit?

Individuals and organizations involved in fiduciary roles or managing employee benefit plans.

  • Fiduciaries
  • Employers
  • Corporations and organizations
  • Investment managers and advisors
  • Trustees and board members
  • Professional service providers
  • Financial institutions
What is Covered?
Fiduciary liability insurance covers losses that may result from errors, omissions, or breaches of fiduciary duty. This can include financial losses, legal fees, and other costs associated with defending against claims of fiduciary misconduct. It is designed to protect the assets of the beneficiaries under the trust or plan, as well as the fiduciary, who may be held personally liable for losses.
Who is covered?
Fiduciary Liability insurance typically covers the following individuals and entities: Fiduciaries, Employee Benefit Plans, Employers, Corporate Entities, Professional Service Providers and Investment Managers and Advisors.
What is Excluded?
(examples of exclusions – not meant to be exhaustive)
  • Dishonest or fraudulent acts
  • Personal profit or improper personal benefit
  • Violation of criminal laws or intentional violations
  • Prior knowledge or prior acts
  • Insured versus insured claims
  • Employment-related claims
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© Relm Insurance Ltd. All rights reserved. Authorized and regulated by the Bermuda Monetary Authority and registered under the Segregated Accounts Companies Act 2000. Relm Insurance is not authorized or licensed outside of Bermuda and deals only through appropriately licensed insurance brokers. To ensure compliance regarding our insurance support of companies domiciled in jurisdictions outside of Bermuda, any request for coverage must go through the appropriate broking channels. The publication and delivery of the information contained within our website is not intended as a direct solicitation for the purchase of insurance coverage.