How to Reduce Risk Using Fidelity Bonds and Fiduciary Liability Coverage
By Craig Erickson
Managing an organization’s employee benefit and retirement plan comes with risks, and potential missteps can affect both the plan administrator and participants. To protect you from those risks, insurance companies offer fiduciary bond — often called fidelity bond — and fiduciary liability coverage. And while the two terms sound similar, there are distinct differences.
Assets and administrators at risk
The plan administrator can act, or fail to act, in ways that...
