You, as a trustee of an employee benefit plans are expected to act in the best interest of your plan participants. If this duty is compromised, you can be held personally liable. In today's litigious society, people who perceive they have been wronged, react with lawsuits that can cost millions of dollars to defend and settle. Chubb offers Fiduciary Liability Insurance coverage, understanding the need to help protect your company, fiduciaries, and the benefit plans you manage against liability claims.
Coverage Highlights
Benefits
- Broad definition of plan, including any pension or welfare plan established anywhere in the world
- Broad definition of fiduciary, including any person or entity who exercises discretionary control over plan assets
- Insured has the right to assume the duty to defend
- No imputation of knowledge from one insured person to another insured person
Coverage
- Automatic coverage for most newly created or acquired plans
- Settlor Coverage available
Client Profile
Public or private financial institutions with employee benefit plans
