Why Do Plan Sponsors Need Fiduciary Liability Insurance?


When you’re in charge of managing a company’s employee benefit plans, you are entrusted with safeguarding the future of your employees. Nonetheless, if you make mistakes with plan management, even the most innocent error may jeopardize your personal assets and damage the reputation of your company.

It’s shocking just how many fiduciaries do not comprehend how exposed their personal assets are without protection. Thousands of ERISA lawsuits are filed every year, with astounding defense costs demanded to defend those individual suits. That’s why Colonial Surety offers Fiduciary Liability Insurance to plan sponsors. Fiduciary Liability Insurance safeguards you, the fiduciary, from any alleged or actual claims of breach of duty. With Fiduciary Liability Insurance, you are covered against breach of fiduciary duties, obligations, responsibilities, and improper investments. Our coverage will cover defense costs associated with employee benefit plan lawsuits. While you protect the best interest of your workers, our experts at Colonial Surety want to help you look after yourself, as well.

Get Fiduciary Liability Insurance with Colonial Surety

We can help you provide greater value and protection to you and your employees. Our Fiduciary Liability Insurance is packaged with an ERISA bond for your plan sponsors. With our online portal, you can obtain your bond in minutes, simply by entering in your information and payment method. Contact us today to learn more about Fiduciary Liability Insurance.