Tag: Fiduciary Liability Insurance
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.
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.