Fiduciary Liability Insurance

Fiduciary Liability Insurance

Fiduciaries carry enormous personal liability. For this reason, plan administrators and sponsors need to have a clear understanding of what's expected of them as fiduciaries, to whom they are liability, what their risks are, and how to protect themselves. 

Learn what fiduciary liability insurance is all about, the different coverage options, how it works when there is a claim, what you can do to mitigate risk, and buying criteria and alternatives. 


What You Will Learn

Fiduciary liability
Who is a fiduciary and what are the sources of liability for fiduciaries?
Insurance Coverage
What’s in a fiduciary liability insurance policy and how does the insurance work?
Claims & Risk mitigation
What are common types of claims and how can you reduce the chance of a claim?
What to buy
What policy, what coverage, how to determine how much insurance to buy?

Course Curriculum

Welcome to Fiduciary Liability Insurance

  • Welcome
  • Course Objectives
  • Downloadable material

Fiduciary Liability

  • Chapter introduction & objectives
  • Who is a fiduciary? FREE PREVIEW
  • Sources of fiduciary liability
  • Fiduciary liability under CPBSA
  • Fiduciary liability under ERISA
  • Who is a fiduciary under ERISA FREE PREVIEW
  • What are the duties of fiduciaries under ERISA
  • Quiz instructions
  • Quiz - Fiduciary Liability

A Look at Fiduciary Liability Exposures

  • Chapter introduction & objectives
  • Factors impacting liability exposures FREE PREVIEW
  • DC plans and liability exposure
  • M&A and Pension Plans liability
  • Investor activism
  • Excessive fee litigation
  • Claims examples - what can go wrong
  • Examples of court decisions impacting the legal landscape
  • Quiz - A Look at Fiduciary Liability Exposures

Fiduciary Liability Insurance

  • Chapter introduction & objectives
  • What is Fiduciary Liability Insurance FREE PREVIEW
  • What is covered - definition of plan
  • Who is covered by a FL policy
  • Fiduciary liability insurance policy
  • Standard insuring clauses
  • Fiduciary liability extensions
  • Typical exclusions
  • Quiz - Fiduciary Liability Insurance

Fiduciary Liability Insurance Claims

  • Chapter introduction & objectives
  • What constitutes an FL Insurance claim?
  • What is a FL Claim for damages against the insured?
  • What is a wrongful act?
  • What is loss under a FL policy?
  • Understanding policy reporting requirements
  • Claims-made policies
  • Claims-made and reported policies
  • Claims reporting requirements
  • Why claims should be reported “as soon as practicable"
  • Potential claim notification
  • Extended Reporting Period (ERP)
  • Claims reporting issues
  • How claims are handled
  • Defence and Settlement
  • Activity - the claims process
  • Quiz - Fiduciary Liability Insurance Claims

Managing the Risk of Fiduciary Liability Insurance Claims

  • Chapter introduction & objectives
  • Common sources of claims
  • Minimizing the chance of a claim
  • Quiz - Managing the risk of Fiduciary Liability Insurance Claims

Buying Fiduciary Liability Insurance

  • Chapter introduction & objectives
  • Why organizations buy fiduciary liability insurance FREE PREVIEW
  • Types of cover for plan related risk
  • Types of cover for plan related risk - EBL
  • Fiduciary liability - package or standalone
  • Coverage considerations
  • Policy terms and conditions
  • Application process
  • Understanding the application
  • Sample additional questions
  • Selecting an insurer
  • What to expect from your insurance broker
  • Managing your FL insurance policy
  • Quiz - Buying Fiduciary Liability Insurance

Course Wrap-up & Final Assessment

  • Course Wrap-up
  • Course survey
  • Fiduciary Liability Insurance Final Assessment

About ITC Courses

ITC takes pride in delivering high quality, unbiased courses on professional and management liability insurance and related topics. Designed specifically for online delivery, our courses are interactive, include activities and quizzes, use practical illustrations and real-life case studies and deliver knowledge in bite-sized portions so even just 5 minutes is learning time well spent.

How we build courses

ITC courses are the product of a collaborative approach. We work closely with subject matter experts to build out course content, the ITC design team brings that content to life, and no course is published before undergoing an intense review by an industry panel. Our process also includes post-publication reviews and updates because ITC is committed to delivering quality courses that remain accurate, relevant and up-to-date, long after they are first published.


Insurance Brokerage, Canada

Very clear, concise content, delivered in an easy to understand way. Whether an industry vet or just starting out, you will learn something from this course- I did! It’s easy to see how this platform could complement any corporate training program. I’d thoroughly recommend ITC to any L&D manager.

Broker, Australia

ITC effectively tackles complex subject matters in a very creative manner. I would highly recommend to anyone looking to broaden their understanding.

Broker, Canada

Great way to enjoy an evolving subject matter. Thank you ITC, enjoyed that!

Broker, Australia

Tough topics. Beautifully presented.

Senior Underwriter, Canada

I’ve been in the industry for nearly 15 years and event I learned some things in this course! It’s a straightforward and intelligent way of presenting a complex issue. Not a small feat.

Everyone will find this course helpful, no doubt.

Broker, Canada

Most insurance courses are either pitched at people learning about the subject for the first time or jump straight into advanced topics. The ITC courses do a great job for all learners and I particularly liked the online format since you can either spend time starting from the beginning or quickly move on to the areas of most interest to you. The course material also went beyond insurance policy language – addressing risk management, claims processes, what buyers should consider, and more.

Frequently Asked Questions

Are there prerequisites for ITC courses?

With ITC, you can take any course at any time. For the best learning experience, a prerequisite may be recommended in the course description.

What if I don’t see the topic I’m interested in?

At ITC, we want to hear from you! Our courses are specifically developed to provide relevant and up-to-date training on insurance topics. If there is something you’d like to learn or explore and we don’t have the course, please reach out!

Do your courses have the latest information?

We take pride in providing up-to-date relevant courses! ITC is committed to reviewing all course content at least once a year and making any necessary updates or additions to course materials.

Will I get a certificate for completing a course?

We provide a digital certificate of completion for all successfully completed courses.

What currency are ITC’s courses priced in?

All ITC courses and subscriptions are priced in USD.

If I purchase a single course, how long will I have access to the course?

When you purchase a single course you will receive lifetime access to the course from any device. This includes any future updates to course materials.

Can I get a refund for a course purchase?

We offer a risk-free 30-day money-back guarantee on all our courses. If you are not happy with your ITC course purchase you have up to 30 days from your original date of purchase to contact ITC at [email protected] to request a full refund. All we ask is that you provide us with the reason for your refund request. It is feedback from clients like you that helps us to improve our courses.

How do ITC subscriptions work?

When you sign up for an ITC subscription, you’ll immediately have unlimited access to the entire course library and you can cancel at any time. But why would you want to? Having ongoing access to course materials means you can refer back anytime you like, brush up on important concepts, or even retake those sections that you keep forgetting (of course, we’re not saying that you’re forgetful). Plus, the longer you subscribe, the more courses and resources you’ll get because we are continually investing in adding new courses and updating existing ones.

What’s the difference between the monthly subscription and the annual subscription?

With both subscription options you get immediate access to the entire course library as well as access to all additions and updates for as long as you continue to subscribe. For best value we recommend the annual subscription.

What if I want to cancel my subscription?

You can cancel your subscription at any time by contacting ITC at [email protected]. Your subscription will auto-renew until then. Before you decide to cancel just remember that we’ve got new courses in the pipeline that may be of interest to you. If you want to know what new courses we’re working on you can email us at [email protected] and ask.

Will I be able to get a refund for my subscription if I cancel?

Our risk-free 30-day money-back guarantee also applies to our subscription services. If you’ve purchases a monthly or annual subscription you have 30 days from your original date of purchase to contact ITC at [email protected] to request a full refund. All we ask is that you provide us with the reason for your refund request.

Please note, when a subscription is refunded, your account with ITC will be closed. Completion certificate(s) for any courses you may have already completed during your subscription will no longer be accessible. And we will be sad to see you go.

If I decide to cancel, why does ITC need to know why?

We ask for an explanation because we value your input and it is feedback from clients like you that helps us improve our courses.

Is my certificate of completion valid after I get a refund?

If you request a refund, your account will no longer be valid and your certificate of completion will not be accessible.

Does ITC have purchase plans for businesses?

Yes, ITC can also provide courses through bespoke corporate programs. To find our more please contact us directly at [email protected].