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ERISA fiduciary liability insurance protects plan officials and sponsoring companies from personal liability for alleged breaches of duty, such as mismanagement, negligence, or imprudent investment decisions under the Employee Retirement Income Security Act (ERISA). While ERISA bond coverage is required by law to protect plans from fraud, fiduciary coverage is voluntary, covering legal defense costs and plan losses. Unlike ERISA fidelity bonds (which only cover theft/fraud), liability insurance covers negligence and mismanagement.
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