Browsing: fiduciary liability insurance

Philip Steele, AIF FIDUCIARY LIABILITY INSURANCE IS CHANGING Actually, it’s not a survey, but a questionnaire that the major commercial insurance carriers – think Travelers, Chubb, and AIG – are requiring prior to offering/renewing liability coverage for companies. Regulators and plaintiff law firms are targeting employer-sponsored retirement plans at an alarming rate, focusing on excessive fees, breach of fiduciary duties, and conflicts of interest. Concurrently, the market for fiduciary liability insurance is experiencing higher premiums, lower coverage limits, and increased retention limits (deductibles) in order to account for the increased risks. The extreme pace of new retirement plan lawsuits these…