ERISA fiduciary insurance fidelity insurance bond trustee liability insurance pension plan E&O errors and omissions

ERISA Fiduciary Liability

 

Corporate directors, high-level executives, plan administrators, and sponsoring employers and organizers seek to ensure that individuals charged with fiduciary responsibility for pension plans, health and welfare plans, and similar employee or participant benefits are protected from the risk of liability through the purchase of insurance.  

 

The Mayerson Firm PLLC has deep experience in helping these individuals and their organizations recovery from their fiduciary-liability insurance.  Often, insurance proceeds can be used in a settlement negotiation with regulators or disgruntled participants to fund alleged losses to the plan from fiduciary breach. These matters arise sometimes when the plan has invested in the settlor's or sponsoring company's own stock, which subsequently files for bankruptcy, leading to claims of inadequate diversification of fund investments; as policyholder lawyer, Marc Mayerson has recovered millions of dollars for clients in this type of situation and others alleging fiduciary breach.

 

Marc recently provided disinterested expert testimony on ERISA fidelity bonds to the Department of Labor's ERISA Advisory Council. Marc also has provided presentations on the Employee Benefit Security Administration's cybersecurity guidelines and related cyber-insurance issues of concern to ERISA plan trustees and fiduciaries.