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(Ways to) Limit Fiduciary Liability

Fiduciary Governance

A recent survey of some of the nation’s leading insurers highlights ways that plan fiduciaries can limit liability—and insurance premiums. Nevin Adams and Fred Reish consider the options in a new podcast episode.

While many factors can come into play in triggering—or forestalling—retirement plan litigation—the firms that must insure against those potential losses and costs provide a unique perspective.

A report by Aon not only highlighted sources of risk, but focused on those that are within the control of fiduciaries to mitigate, drawing from the perspectives of about a dozen insurers that Aon said account for 85% of the total gross written premium placed by the firm in 2020. The survey’s authors identified five key takeaways—and in this month’s “Nevin and Fred” podcast, we discuss the options—and what they might mean to your committee structure and practices. 

You might also check out Limiting Fiduciary Liability (Costs) and Your Plan Might Be an Excessive Fee Litigation Target If…

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