What Is Fiduciary Liability Insurance? Explained 2025
What is Fiduciary Liability Insurance, and why is it essential for businesses with employee benefit plans? In this video, Gordon Coyle explains what fiduciary liability covers, who it protects, the types of lawsuits trustees face, and how much this important protection typically costs. 👉 For expert business insurance guidance, contact us here: https://thecoylegroup.com/contact 👉 Visit our page: https://thecoylegroup.com/fiduciary-l... If your business offers a 401(k), retirement plan, or health insurance plan, you likely have fiduciary responsibilities under ERISA. Violating—or even appearing to violate—these duties can result in lawsuits, fines, penalties, and costly investigations. Fiduciary Liability Insurance is the only policy designed to protect plan trustees (often the business owners and leaders themselves) from these exposures. Learn the differences between Fiduciary Liability, Fidelity Bonds, and Employee Benefits Liability (EBL), and why relying on the wrong coverage can put your company and personal assets at risk. Chapters 00:00 – What Is Fiduciary Liability Insurance? 00:06 – Why Businesses Need Fiduciary Liability Coverage 00:30 – What Is ERISA? Overview & Trustee Obligations 00:59 – Lawsuits, Penalties & Investigations Trustees Face 01:36 – Why Other Insurance Policies Don’t Cover ERISA Claims 01:56 – Personal Liability Risks for Business Owners 02:21 – Common Fiduciary Lawsuit Allegations 02:51 – What Fiduciary Liability Does NOT Cover 02:57 – Fiduciary Liability vs Fidelity Bond vs EBL 03:48 – Why Every Firm With a Benefit Plan Should Review Coverage 04:15 – How Much Fiduciary Liability Insurance Costs 04:32 – How to Get Help & Contact Information 📩 Have questions about fiduciary liability or your benefit plan? I help business owners gain greater control over their risks and build stronger insurance programs. Contact me anytime, email, phone, or book a call using the link below. 📅 Book a call: https://thecoylegroup.com/book-call/ 📧 [email protected] 📞 845‑474‑2924 🌐 https://www.thecoylegroup.com Gordon B. Coyle, CPCU, ARM, AMIM, PWCA The Coyle Group #FiduciaryLiabilityInsurance #BusinessInsurance #ERISA #FiduciaryDuties #401kPlanTrustees
