Fiduciary Insurance Program From OnPoint Underwriting
OnPoint Underwriting offers a focused Fiduciary Insurance program that helps protect plan sponsors, plan fiduciaries, trustees, and administrators from liability tied to the management and administration of employee benefit plans. The program is designed for ERISA-regulated plans including retirement plans, 401(k) plans, pension plans, and health and welfare plans, and addresses exposures from alleged mismanagement, recordkeeping errors, and breaches of fiduciary duty.
Available through multiple carriers and offered in both admitted and non-admitted markets, this program is accessible nationwide. OnPoint’s appetite and carrier relationships let you place standard accounts as well as more complex or higher-exposure risks that require tailored terms.
Ideal Accounts and Appetite
This program is a practical fit for agents and brokers placing business for clients who sponsor or administer employee benefit plans. Typical accounts include:
- Small to midsize employers offering 401(k), defined contribution, or pension plans
- Nonprofit organizations, universities, and schools with employee benefit programs
- Municipalities and government entities responsible for employee plans
You might have a client who recently added a 401(k) and needs fiduciary protection for new plan administrators, or a nonprofit that wants coverage for potential errors in plan administration or missed filings. The program can respond to accounts with prior compliance issues or more complex plan structures that need enhanced definitions and sublimits.
Coverage Highlights and Advantages
Fiduciary Insurance Program Highlights:
Defense costs outside the limit
Voluntary compliance loss and delinquent filer penalties coverages
HIPAA Coverage
Enhanced definition of Claim
Sublimit of $100,000 for Voluntary Compliance Loss and
Delinquent Filer Penalties coverage
Civil money penalties imposed for violations of the Pension
Protection Act
Sublimit of $25,000 for civil money penalties imposed for violations
of the Pension Protection Act
Sublimit of $25,000 for civil money penalties imposed for violations
of Section 502© of ERISA
Comprehensive all-encompassing Omnibus plans coverage for all
employee benefit plans with no listing requirement
Underwriting Notes and Minimum Premiums
OnPoint has no stated minimum premium, which makes this program accessible for a range of account sizes. Underwriting reviews focus on plan types, assets under management, claims history, service provider oversight, and internal controls around plan administration.
Because OnPoint works with a panel of carriers, they can often accommodate accounts that need specific wording or sublimit structures. Enhanced definitions and targeted sublimits make the program attractive for plans that require HIPAA coverages, voluntary compliance assistance, or civil penalty protection.
Territories and Availability
This Fiduciary Insurance program is available nationwide — all 50 states and Washington, D.C. — and can be placed in both admitted and non-admitted markets to fit regulatory and pricing needs.
Why Work With OnPoint Underwriting
As a specialized program administrator, OnPoint Underwriting combines niche fiduciary expertise with responsive underwriting and broad carrier access. That combination helps you secure tailored coverage for complex benefit plans, negotiate terms for accounts with prior issues, and place business efficiently across multiple markets.
To discuss placements or for more program details, contact Leaticia Roberts at (404) 460-1372 or [email protected]. For company information visit www.onpointunderwriting.com.
Frequently Asked Questions
What types of accounts are a good fit for this Fiduciary Insurance program?
Small to midsize businesses, nonprofits, schools, and municipalities that sponsor or administer employee benefit plans are ideal candidates for this program.
Is there a minimum premium requirement?
No. There is no stated minimum premium, which provides flexibility across a range of account sizes.
In which states is this program available?
This program is available in all 50 states and Washington, D.C., with access to both admitted and non-admitted markets.
What are some key coverages included in the program?
Highlights include defense costs outside the limit, HIPAA coverage, voluntary compliance loss, delinquent filer penalties, and civil money penalties related to fiduciary and plan administration exposures.
What makes OnPoint Underwriting a strong partner for fiduciary coverage?
OnPoint offers specialized fiduciary underwriting, flexible placement options across multiple carriers, and the ability to craft coverage for complex plan structures or accounts with prior compliance concerns.
Need help placing an account? Connect with a market specialist.