QOTW: Fiduciary Insurance

At the request of a member looking to benchmark fiduciary insurance,we asked ICYMI readers if their company carries fiduciary liability insurance, and if so, at what level.  The majority of respondents (78.7 percent) indicated they carry fiduciary insurance, though there was a wide range of coverage levels.  The amount of insurance ranges from 0.4 percent to 33.3 percent of total plan assets with an average of 5.0 percent and a median of 2.3 percent.

A few sponsors are in the process of obtaining fiduciary insurance, and one indicated they wanted to, but they could not convince leadership that it was necessary.