Is Fiduciary Liability Insurance the New D&O?
- Source:
- Penton Media
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Overview: Fiduciary liability insurance covers pension fund trustees and retirement plan sponsors' directors and officers for claims asserting violations of fiduciary duty under the Employee Retirement Income Security Act (ERISA). Monitoring the fiduciary liability insurance market is like watching a rerun of a bad movie. In the wake of the corporate scandals and bankruptcies of 2001 and 2002 and the wave of lawsuits that followed, organizations of all sizes saw their premiums for Directors and Officers (D&O) liability insurance skyrocket. The same scenario is playing out in the fiduciary liability insurance arena, much to the chagrin of underwriters as well as the businesses that purchase their products.
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Format: HTML | Date: Jan 2004 | Pages: 4





