How Errors & Omissions Coverage Protects Pension Professionals from Costly Mistakes


It can be difficult for pension professionals to juggle servicing multiple employee benefit plans at once. With Errors and Omissions protection, pension professionals safeguards against covered losses from any actual or alleged negligent act, error, or omission. It is a type of professional liability insurance that protects you and your company from claims and lawsuits if your plan sponsor client alleges that you or your company was professionally negligent for failing to perform covered professional duties.

Colonial Surety Company provides ERISA fidelity bonds, fiduciary liability insurance, and errors and omissions insurance specifically for pension professionals. However, though pension professionals are covered with this policy, we understand your clients are facing risks as well. That’s why we also offer an exclusive package of ERISA coverage that includes fiduciary liability insurance and cyber liability insurance for unparalleled value and security for plan sponsors. You can also consolidate your plan sponsor’s ERISA bonds in one convenient package.

The difference is clear. We are rated “A Excellent” by AM Best Company, a U.S.-based credit rating agency, and are a long-tenured member of ASPPA and NIPA. We are licensed every state and U.S. territory across America except for U.S. Samoa. As a direct insurer, we understand protection is everything, and can make or break a person or company’s life. Our proprietary e-commerce engine lets you instantly quote and purchase bonds online anytime, anywhere. Simply enter your plan information, complete the application, and print your bond on-demand. It’s that easy!

We can help you reach new heights. Contact us today to get the proper coverage you deserve.