Lyons Companies provides competitive pricing and expedited placement of FIDUCIARY LIABILITY INSURANCE and ERISA CRIME BONDS for pension and plan administrators.
Fiduciary Liability Insurance
If you are an ERISA plan sponsor, owner or officer making decisions about a company’s employee benefit plan, you may be held personally liable in the administration of employee benefits plans or handling of the plan’s funds.
Fiduciary Liability Insurance protects:
- Plan sponsors and trustees
- Financial assets of the company and employee benefit plan if sued for decisions made regarding the employee benefit plan
- Trustees from defense costs and penalties
- Personal assets of appointed fiduciaries
ERISA Crime Bond
ERISA mandates retirement plans be covered by a Crime Bond. You must carry a limit equal to or exceeding 10% of plan assets up to $500,000 or $1,000,000 if your fund is comprised of your own corporate shares.
ERISA/Fidelity bonds provide coverage for the benefit of the plan and plan beneficiaries. They do not protect personal assets of trustees from liability claims.
ERISA Crime Bond features:
- No deductible
- 1 or 3 year terms
- Quick turnaround
- Competitive pricing
About Lyons
Lyons Companies is an independent risk management and insurance brokerage firm and Assurex Global partner. Lyons works with clients to develop and implement enterprise-wide solutions that manage the total cost of risk.
Lyons offers a full range of commercial and personal insurance products and services including: traditional and captive insurance, claims management and risk control, employee benefits and HR consulting, and personal property and liability coverage. Learn more about Lyons Companies at www.lyonsinsurance.com
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