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Fiduciary Liability Insurance

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

Why choose AIG for Fiduciary Liability Insurance?

Extensive legislation, complex litigation and an evolving economy are among the forces shifting the landscape for companies providing 401(k), pension, or welfare plans for employees. An inadvertent error in the administration of an employee benefit plan, or even the appearance of wrongdoing, can trigger litigation alleging breach of fiduciary duty against the company, directors, officers, and other employees who are responsible for plan administration. 

AIG’s fiduciary liability insurance helps protect against losses in the event of alleged misconduct or error.

The AIG Advantage

Broad Protection

Provides vital coverage, subject to sublimits of liability, 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.

AIG Fiduciary Liability Insurance Solutions

Fiduciary Liability Insurance Edge® protects against the personal liability imposed upon directors, officers and employees who oversee pension and other benefit plans as well as the company that sponsors such plans, with flexible notice features, sub-limited coverage for penalties under the Affordable Care Act, and expanded coverage relating to voluntary governmental compliance programs and more.

Fiduciary Liability Insurance Edge gives business executives and plan fiduciaries state-of-the-art coverage in response to the unprecedented level of risk they face today. 

Fiduciary Liability Insurance Edge® For PortfolioSelectSM  Product Profile (PDF)

Coverage Paired with the Fiduciary Audit® Protection Program from Greenberg Traurig:

AIG’s IRS Audit Protector Program helps protect plan sponsor fiduciaries and plans by providing enhanced insurance protection from potential IRS liability. 

Directors, officers, and employees who oversee 401(k), pension, or other retirement plans can benefit from AIG’s IRS Audit Protector coverage, providing peace of mind and financial protection in the event of a plan audit. 

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

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

Brokers: Meet Your AIG Team

View contact information for AIG’s national product and distribution teams.

Downloadable Materials

Download PDF [342.4 kb]

Filename
ps-fiduciary-brochure.pdf
Size
342 KB
Format
application/pdf
Fiduciary Liability Insurance Edge® Product Profile

Download PDF [753.4 kb]

Filename
pension-trustee-excess-fees-fiduciary-whitepaper.pdf
Size
753 KB
Format
application/pdf
2021 Report: Understanding the Rapid Rise in Excessive Fee Claims

The scenarios described herein are offered only as examples. Coverage depends on the actual facts of each case and the terms, conditions and exclusions of each individual policy. Anyone interested in the above product(s) should request a copy of the standard form of policy for a description of the scope and limitations of coverage.

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