https://completemarkets.com/company/ajwayne/Fiduciary-Liability-Insurance/
Fiduciary Liability Insurance & ERISA
The Employee Retirement Income Security Act of 1974 (ERISA) creates broad fiduciary responsibilities for anyone who designs, sponsors, administers or manages employee benefit plans. Employers, plan administrators, plan committees and individual fiduciaries can face claims arising from pension and welfare plans, including 401(k)s, profit-sharing plans, medical and life benefits, scholarship programs and prepaid legal plans.
Common allegations we see on Fiduciary Liability accounts include:
Errors during plan mergers, terminations or asset transfers
Negligent administration or procedural mistakes
Inadequate or inaccurate plan disclosures
Allegations of imprudent investment of plan assets
Failure to pursue or collect delinquent contributions
Claims based on lack of due diligence in selecting or monitoring service providers
Other miscellaneous fiduciary breach allegations
Alexander J. Wayne & Associates, Inc. offers both standalone Fiduciary Liability policies and D&O package options that include fiduciary coverage—delivered as a wholesale broker with access to all major U.S. carriers and Lloyd’s of London (domestic and London open market).
Overview — Program from Alexander J. Wayne & Associates, Inc.
As a wholesale broker, Alexander J. Wayne & Associates places Fiduciary Liability Insurance for plan sponsors, administrators and fiduciaries who need ERISA-focused protection. We work with admitted and non-admitted markets to find solutions for straightforward and complex single-employer plans, multiple-employer plans and third-party administrators.
Ideal Accounts and Appetite
Private and public employers that sponsor 401(k), pension, profit-sharing and welfare plans
Plan administrators, boards of trustees and named fiduciaries seeking fiduciary error defense
Third-party administrators (TPAs) and recordkeepers with clear controls and documented procedures
Taft-Hartley funds and multi-employer plans with standard governance practices
We typically consider accounts with documented governance, regular investment monitoring, and up-to-date plan disclosures. Accounts with ongoing litigation, significant asset miss-management or material regulatory violations may require special underwriting and placement strategies.
Coverage Highlights and Advantages
Standalone fiduciary forms or packaged with Directors & Officers coverage for broader protection
Access to competitive markets, including Lloyd’s capacity for large or complex placements
Underwriting tailored for ERISA exposures—focus on plan governance, investment oversight and sponsor practices
Flexible limit and deductible structures depending on risk characteristics
Underwriting Notes and Submission Tips
Provide the following to speed placement: current plan documents, recent Form 5500s, summary plan descriptions, investment policy statements, fiduciary training records and details on any prior or pending claims. Highlight documented procedures for monitoring investments and selecting service providers.
If you have an account with recent plan mergers, terminations or suspicious asset transfers, disclose those early in the submission—those items materially affect terms and market selection.
Territories and Availability
This program is available through Alexander J. Wayne & Associates in the following states and territories: AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, DC, WV, WI, WY. We place both admitted and non-admitted coverage depending on the risk and client needs.
Why Work With Alexander J. Wayne & Associates, Inc.?
Wholesale broker relationships with major U.S. carriers and Lloyd’s of London for broad capacity
Experience placing ERISA and fiduciary risks across a wide range of industries and plan sizes
Responsive underwriting advocacy to secure appropriate forms and competitive terms
Options for standalone fiduciary policies or combined D&O/Fiduciary placements
Example scenarios
You have a mid-size employer sponsoring a 401(k) and a small defined benefit plan that needs standalone fiduciary limits and ERISA defense—this program can access carriers that are comfortable with mixed-plan portfolios.
You represent a TPA seeking fiduciary coverage for third-party administration services with documented controls—markets through Alexander J. Wayne can consider package placements or standalone forms.
Frequently Asked Questions
What types of accounts are a good fit for this Fiduciary Liability program?Plan sponsors (401(k), profit-sharing, pension), plan administrators, TPAs and boards of trustees with documented governance and investment oversight are ideal. Taft-Hartley and multi-employer plans with regular reporting are also considered.
Do you offer standalone fiduciary coverage or only package placements?We offer both. Alexander J. Wayne places standalone Fiduciary Liability policies and D&O package policies that include fiduciary coverage, depending on market appetite and the client’s needs.
Which states and markets are available?The program is available in AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, DC, WV, WI and WY. We place with major U.S. carriers and Lloyd’s of London across admitted and non-admitted markets.
What key documents should I include with a submission?Include plan documents, Form 5500s, summary plan descriptions, investment policy statements, records of fiduciary training and any prior claim history to speed underwriting and improve placement options.
Need help placing an account? Connect with a market specialist.