Fiduciary Liability Insurance: What You Need to Know

The year 2020 proved to be another difficult year for fiduciary liability insurance carriers. Steps that employers and benefit plans took to cope with the global COVID pandemic and keep operating also set the stage for increased claims.

In response, many carriers have instituted new underwriting requirements that make it harder for those who need insurance to obtain a policy and difficult even for those who are already insured to renew policies, especially when applying for increased limits.
 
What should those who need coverage do? Segal senior broker and vice president Anna Bell answers key questions and shares some practical suggestions.