Companies generally create employee benefit plans to help attract and retain quality employees.  However, they may not be aware of the liability exposure created from the management of these plans.  Or, that utilizing a third-party plan administrator (TPA) does not eliminate their exposure.

Even more concerning is that as a fiduciary (trustee) of a companies Retirement Plan, or Welfare Plan (including medical, dental, life and disability), ERISA holds them personally liable.

 

A fiduciary liability policy protects the personal assets of a plan Fiduciary due to allegations of breach of fiduciary duties.