Module 12: Fiduciary Liability Insurance (CE-Eligible)

This module is eligible for CE credit for those who have insurance licenses. If you don’t have a license or don’t need CE credit, please purchase the non-CE eligible module instead. Both CE- and non-CE eligible modules count equally towards PLUS designations and/or certificate programs.

If you select this CE-eligible module, you’ll be required to do all of the following to receive credit:

• Purchase both the CE-eligible module ($325) and the separate CE-eligible exam registration ($75)
• Complete the CE-eligible module online in our LMS
• Complete the cumulative CE-eligible exam in a proctored setting with Prometric within 365 days of purchase

Submit your CE Request Form within 5 days of completing the CE-eligible exam

Module 12 | Fiduciary Liability Insurance
The discussion of Fiduciary Liability Insurance begins with a discussion of the purpose and history of ERISA, the factors leading to its passage, and how it has affected the PLI insurance industry. The module defines fiduciaries and their guidelines under ERISA, the basic requirements for ERISA plans, and the different types of plans that have arisen. Important documentation that an underwriter should review and consider in the underwriting process is identified. Fiduciary Liability is compared with other types of PLI, avoiding areas of duplication of coverage, and advantages and disadvantages of stand-alone policies versus packaging of the various coverages. Trends in the types of claims and lawsuits and current markets are analyzed. There are discussions of several aspects of Fiduciary Liability claims – exposure to claims, relative exposures presented by defined benefit and defined contribution plans, and whether exposure to claims may be linked to failure to comply with the ERISA standard of conduct. The module outlines underwriting considerations for Fiduciary Liability and how corporate governance may mitigate a company’s exposure to Fiduciary Liability claims.

Module and exam copyright date: 2021

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