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Trustees of both multiemployer and governmental health, welfare, and pension trust plans hold a significant and often complex role in managing these plans. Chubb’s insurance coverage helps trustees understand how the Employee Retirement Income Security Act of 1974 (ERISA) imposes extraordinary responsibilities while other amendments and laws governing fiduciary conduct create even more challenges.

Coverage Highlights


  • Unparalleled claim expertise – Chubb has four decades of experience in handling fiduciary claims
  • Continued financial stability as one of A.M. Best Company’s elite highest-ranking insurers
  • Local underwriters and claims examiners with industry and state specific legal expertise
  • Covers ERISA and non-ERISA employee benefit plans
  • Worldwide coverage to the fullest extent permitted by law
  • Access to loss prevention resources


Chubb customizes fiduciary liability coverage to fit the unique needs of our Insured’s plans: 

  • Expanded definition of Wrongful Act includes acts, errors, or omissions in an Insured’s settlor capacity with respect to establishing, amending, terminating, or funding plans, in addition to breach of duty imposed by ERISA upon fiduciaries and errors in plan administration.
  • Expanded definition of Claim includes pre-claim investigations, benefit claim denials, regulatory proceedings against an Insured Persons by an Enforcement Unit, and subpoena requests upon Insured Persons.
  • Expanded definition of Loss can be obtained by endorsement to include coverage for civil penalties where insurable by law. Loss can be further broadened to include:
    • Compensatory damages
    • Punitive, exemplary and multiplied damages where insurable by law
    • Claimant attorney fees awarded by a court pursuant to Section 502(g) of ERISA
    • Pre-judgment and post-judgment interest
    • Reasonable fees and expenses of an independent fiduciary retained to review a proposed settlement of a covered claim
    • Benefit Overpayment Insuring Clause
    • Other Taxes, Fines, or Penalties
    • Trustee Non-Fiduciary Defense Costs
    • Umbrella for Civil Penalties
  • Duty to Defend can be amended to include option for Insured to select defense counsel.
  • Additional insuring clauses cover Voluntary Program Losses and Interview Coverage.

Find the Coverage You Need For Multiemployer Plans

Are trustees a target for claims alleging a fiduciary breach or failure to properly administer multiemployer plans? Read more on Chubb’s insurance coverage tailored for trustees of multiemployer plans of all kinds.