Insurance

Fiduciary Liability Coverage
Segal Select Insurance Services

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Fiduciary liability insurance is designed to protect employee benefit funds and their fiduciaries against risks associated with lawsuits alleging a breach of fiduciary duty as well as administrative errors or omissions. In more recent years, with increasing litigation and evolving underwriting requirements, obtaining reasonable coverage can be more challenging without the right insurance professionals.

In May 2025, the New York Labor Health Care Alliance (NYLHCA) board of directors elected Segal Select Insurance Services, Inc. as an endorsed provider.

Understanding what coverage terms apply for your fund matters as because policy terms can vary. Segal’s insurance brokerage practice brings over 40 years of insurance brokerage experience with Taft-Hartley employee benefit funds and was instrumental in developing the language of the first fiduciary liability insurance policy. We work to ensure your board and benefit plans have a broad scope of coverage with reasonable limits and a competitive premium.

Highlights of Segal’s Fiduciary Liability insurance program includes coverage for:

  • Duty To defend
  • Right to select counsel
  • Administrative errors & omissions
  • Bilateral extended reporting period
  • First party benefit overpayment
  • Continuity
  • Amended hammer/settlement clause
  • HIPAA
  • Non-fiduciary defense
  • Patient Protection and Affordable Care Act (PPACA)
  • Plan sponsor or settlor
  • Fines & penalties coverages
  • Pre-claim investigation defense
  • Spousal and domestic partner
  • Cap penalties
  • Waiver of recourse

Complimentary policy review for NYLHCA members

As a member of NYLHCA, Segal can provide you with a complimentary policy review . During this review, we will assess the appropriateness of your current fiduciary liability coverage, consider your claims data and analyze your limit of liability and premium to determine if your insurance policy could benefit from improvements in the scope of coverage.

For more information about Segal’s Insurance brokerage practice, please visit our website.

Key contacts:

Diane R. McNally
Senior Vice President and Principal
Segal
T 212.251.5146 | M 929.240.1433
DRMcNally@segalco.com


Bob Eberle
Insurance Consultant
Segal
T 215.805.6693
reberlejr@segalco.com

 

Robert J. Eberle, Jr.
Associate Consultant, Insurance
Segal
T 215.805.6693
reberlejr@segalco.com