ERISA Fiduciary Liability Insurance: Limiting Exposure for Breach of Duty Claims
Negotiating the Policy, Overcoming Coverage Challenges, and Responding to Enforcement and Litigation
Recording of a 90-minute premium CLE webinar with Q&A
This CLE seminar will explain the key provisions in an ERISA fiduciary liability insurance policy, best practices for negotiating the policy, and strategies for dealing with an insurer when a claim arises, enforcement action is taken, or litigation ensues.
Outline
- Understanding and negotiating ERISA fiduciary liability coverage
- Scope of coverage and exclusions
- Underwriting factors
- Pricing
- Duty to defend v. duty to indemnify
- Interplay with D&O insurance
- Key considerations in negotiating policy (new policies and renewals)
- Best practices for fiduciaries when a potential claim arises or a government audit or enforcement action is possible
- Understand how policy operates
- When and how to advise the insurer
- What to disclose to the insurer
- Practical considerations in the insurer relationship when litigation or regulatory enforcement action follows
- Selection of counsel
- Reservation of rights letter
- Coverage disputes
- Insurance litigation guidelines
- Scope of contact during motion practice, setting of defense strategy
- The settlement process
- Liability limits and appeals
Benefits
The panel will review these and other key questions:
- What new liability risks have emerged for retirement plan fiduciaries as a result of the market downturn?
- How can fiduciaries best protect themselves against breach of fiduciary duty lawsuits associated with retirement plan management?
- What strategies have been effective for negotiating comprehensive fiduciary liability insurance policies and prevailing in coverage disputes?
Faculty
Jonathan Evan Goldberg
Partner
Seyfarth Shaw
He represents corporate clients in complex commercial, ERISA, and employment litigation. He has successfully litigated... | Read More
He represents corporate clients in complex commercial, ERISA, and employment litigation. He has successfully litigated in federal and state courts throughout the country. He has defended clients in connection with investigations by the U.S. Department of Labor and the U.S. Department of Justice, discrimination and wrongful termination claims, and trade secrets and restrictive covenant litigation.
CloseLawrence Fine
Senior Vice President, Chief Technical Officer of Financial Lines Claims
Chartis
He manages the claims group, which handles all fiduciary liability (ERISA) claims, in addition to complex D&O and... | Read More
He manages the claims group, which handles all fiduciary liability (ERISA) claims, in addition to complex D&O and EPLI claims involving Fortune 200 accounts. He is also involved in division-wide issues and in new policy creation. He was formerly associated with Kelley Drye & Warren and Lambert & Weiss, where he specialized in insurance, ERISA, employment and corporate law.
CloseChristine A. Dart
Vice President
Chubb & Son
She is the Global Fiduciary Liability Product Manager for Chubb Specialty Insurance. As Product Manager she is... | Read More
She is the Global Fiduciary Liability Product Manager for Chubb Specialty Insurance. As Product Manager she is responsible for production, marketing, pricing and underwriting for that product. She has over 25 years of underwriting experience on fiduciary liability accounts.
CloseHoward Pianko
Partner
Seyfarth Shaw
He advises clients on matters relating to employee benefits, executive compensation, fiduciary responsibility and... | Read More
He advises clients on matters relating to employee benefits, executive compensation, fiduciary responsibility and benefit related litigation.
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