Are You More Focused on ERISA Insurance?

ERISA requires plan fiduciaries to obtain a fidelity bond, but does not require them to carry insurance.
With the increased focus on litigation, are you paying any more attention to insurance coverages – for you and for those who provide services to your plan sponsor clients?

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1. Is fiduciary insurance coverage/coverage levels a factor in your RFP process?

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2. What type(s) of insurance do you recommend?

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3. Has that changed in the past 5 years?

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4. What type(s) of insurance do your plan sponsor clients generally take on?

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5. Has THAT changed in the past 5 years?

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6. What kind of recommendations (if any) do you make on fiduciary liability insurance (rates, amounts, etc)?

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7. What kind of recommendations (if any) do you make on employee benefits errors & omissions (E&O) ?

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8. What kind of recommendations (if any) do you make on ERISA bond beyond the minimum required?

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9. Any other comments on ERISA insurance coverages, recommending coverages, the take up on coverage, or changes in coverage or the takeup in coverage?

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10. What is your role working with retirement plans?

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11. What size plans do you PRIMARILY work with?

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12. Suggestions for future survey questions?

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13. All responses are anonymous and confidential, of course - but if you'd like me to know who you are, or allow for a response, you can leave your email below...

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