When assessing whether or not to take on a sponsor as a client, the insurers “have really sharpened their pencils,” says Nancy Ross, a partner and head of the Employee Retirement Income Security Act (ERISA) Litigation Practice at Mayer Brown.
Tag: Fiduciary Liability Insurance
Having prudent processes in place when making plan decisions is of utmost importance, and if a plan sponsor gets sued, having fiduciary liability insurance can be a big help.
In a world of heightened plan sponsor scrutiny, fiduciary liability insurance can be a powerful tool.
Steps can be taken to prevent a lawsuit, establish defenses if a lawsuit arises and buy fiduciary protection.