It may seem ironic, but the generous offering of employee benefits can occasionally be repaid with a lawsuit—unless you're covered by the right type and level of liability insurance.
The experts at Allen Insurance can help protect you from any problems with the management or administration of employee benefit plans. We’ll start by clarifying the functions of the two types of insurance:
Employee Benefit Liability Insurance covers only administrative errors and omissions, such as handling records, enrolling and terminating employees, and interpreting benefits.
Fiduciary Liability Insurance adds to the above coverage of personal liability for a breach of fiduciary duty.
Even if you are blameless, defending against claims can be expensive. That’s why we recommend that all companies with benefit plans acquire coverage. Ask your Allen Insurance representative about our many policies available from the nation’s top carriers.