Office Hours: Fiduciary Liability Insurance
4/8/25 at 3:00 PM to 4/8/25 at 4:00 PM
“PERMA Office Hours” are designed with the members in mind! Office Hours consist of a 35-45-minute presentation designed to help members learn more about a risk management or insurance topic, or valuable resources, followed by about 15-20 minutes of questions/discussion. Office Hours will close with a facilitated conversation to allow members to share concerns, emerging issues, and great ideas with one another. They are generally held on the second Tuesday of each month, from 3:00 – 4:00 pm (exceptions noted).
Fiduciary liability insurance protects your agency, and the individuals who manage employee benefit plans, from Errors and Omissions (E&O) claims of mismanagement. This coverage is not included in general liability coverage and is important because fiduciaries can be held personally liable for breaches of fiduciary duty.
Fiduciary insurance policies cover defense costs legal fees and damages from lawsuits or government investigations, claims of breach of fiduciary duty, claims of negligence, and errors and omissions in plan administration. It provides coverage to councils, boards, executives, employees, plan trustees, employers (plan sponsors), internal investment committees, and plan administrators.
It appears most PERMA member agencies are not purchasing this important coverage. Join us, and Alliant broker Shawn Kraatz, for Office Hours on April 8 to learn more!