Fiduciary liability insurance is for companies who offer employee benefits, 401k’s or profit sharing programs. In order to offer these benefits companies are required to file an ERISA bond to cover the invested capital of others. Fiduciary liability is put in place to legally defend the company from employee claims of misappropriation or mismanagement of funds. This is a specific coverage that is not included in any other insurance policy, adding a clear line of legal defense for your company against these claims.
Contact an expert at Thomas Costello Insurance Agency today for a free review and quote!