Management liability: D&O, EPLI and fiduciary
Running a company brings claims that have nothing to do with slips and falls: employees alleging unfair treatment, investors or lenders questioning decisions, and benefit plan participants questioning how a plan was run.
Protect your company, its leaders and its benefit plans from the claims that come with running a business.
What is management liability?
Management liability is a group of coverages for the people running a business. Directors and officers (D&O) insurance protects the company and its leaders against claims over management decisions. Employment practices liability (EPLI) covers claims of wrongful termination, discrimination, harassment and retaliation. Fiduciary liability covers claims that the people responsible for your employee benefit plans made mistakes in running them. Private companies and nonprofits often buy them together in one package.
What it covers
Directors & officers (D&O)
Claims from investors, lenders, competitors, vendors or regulators over leadership decisions, protecting personal assets too.
Employment practices (EPLI)
Wrongful termination, discrimination, harassment and retaliation claims from employees and applicants.
Fiduciary liability
Claims that plan fiduciaries made errors administering your health or retirement plans.
Nonprofit boards
Volunteer board members face claims too. D&O helps you recruit and keep good ones.
Works with your benefits
Our benefits team already handles your plan documents and compliance, which supports your fiduciary coverage.
HR support
Many EPLI carriers include HR hotlines and training that help prevent claims.
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Frequently asked questions
Is fiduciary liability the same as an ERISA bond?
No. An ERISA fidelity bond, which the law requires for retirement plans, protects the plan against theft by the people who handle its money. Fiduciary liability protects the fiduciaries themselves against claims that they ran the plan badly. Many businesses need both.
Do small companies need EPLI?
Employment claims are among the most common lawsuits small and mid-sized businesses face, and defense is expensive even when you did nothing wrong. EPLI is usually affordable relative to that risk.
Why would a private company need D&O?
Private-company leaders can be sued by lenders, vendors, competitors, customers, regulators and minority owners. D&O pays defense costs and settlements and protects leaders' personal assets.
Review your management liability
We'll look at D&O, EPLI and fiduciary together, alongside your benefits.