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Fiduciary Liability

Are you a fiduciary? Are your personal assets at risk? Are you subject to lawsuits, fines, and penalties? Many people are and don't know it.

According to Employee Retirement Income Security Act of 1974 (ERISA), a fiduciary is any person so named in a plan or any person who exercises any discretionary authority or control with respect to the management or administration of the plan or its assets. This will normally include the plan sponsor, the plan administrator, trustees, and investment managers along with any other persons, including employees who are involved with any aspect of handling the plan or its assets.

How can you protect your company, your plans, and your individual fiduciaries?

Insurance Associates of Northern California can assist your company with Fiduciary Liability or Pension Trust Liability insurance to make sure all of the ERISA guidelines and requirements are met.

This coverage can provide protection for losses that the insured is legally obligated to pay because of a claim made for a wrongful act, including any violation of the responsibilities, obligations, or duties imposed on fiduciaries by ERISA, as well as acts, errors, or omissions involved in plan administration.