Fiduciary Liability Insurance
Lloyd Sadd’s fiduciary liability insurance coverage is designed to protect businesses and their employees who serve as fiduciaries of employee benefit plans. Fiduciaries are individuals or entities entrusted with managing and making decisions regarding employee benefit plans, such as retirement plans or health insurance programs.
This insurance policy helps safeguard fiduciaries against allegations of breaches of their fiduciary duties, which could include errors, omissions, or negligent acts in the administration of employee benefit plans. It provides coverage for legal defense costs and potential settlements or judgments arising from claims made by plan participants or beneficiaries.