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Fiduciary Liability Insurance

Protect your company’s benefit plans and the people who oversee them.

Legislation, litigation, and economics are shifting the landscape for companies that provide 401(k), pension, or welfare plans for employees. AIG’s fiduciary liability insurance helps protect your company in the event of misconduct or error.

 

Benefits of Fiduciary Liability

Broad Protection

Provides vital coverage for certain fines, penalties, sanctions, fees, and expenses related to the Affordable Care Act, ERISA Section 502(c), HIPAA, HITECH Act, IRS Section 4975 and the Pension Protection Act, as well as costs related to the assessment/correction of non-compliance in connection with certain voluntary compliance programs.

Deep Underwriting and Claims Expertise

Professionals by line of business, complexity, and geography, our long-tenured underwriting and claims teams are co-located, which gives each an unparalleled holistic view of your needs, and the trends that impact your business.

Increasing Prohibited Transaction Claims in ERISA Class Action Litigation

AIG and O’Melveny & Myers LLP analyze a troubling trend in prohibited transaction claims and the appeal of such claims to plaintiffs’ counsel.

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Coverage Details

Settlor Coverage

Available to extend coverage to insureds for wrongful acts in the formation and design of a plan, as well as for execution of plan details as a fiduciary.

Affordable Care Act Coverage

Extends coverage to insureds for wrongful acts in connection with insurance purchased though a healthcare exchange.

IRS Audit Protector Coverage

Help your 401K and retirement plan administrator clients protect themselves from potential IRS liability. Learn more about  IRS Audit Protector Coverage >

What are the Potential Costs of Benefits Administration?

Plan to give the benefit of protection

Legislation, litigation, and an evolving economy may be putting you, your executives, and plan administrators at risk.