Fiduciary Liability Coverage Clause Samples
Fiduciary Liability Coverage is an insurance provision that protects individuals or entities who manage employee benefit plans against claims of mismanagement or breach of fiduciary duty. This coverage typically applies to plan administrators, trustees, or employers responsible for overseeing retirement or health benefit plans, and it covers legal defense costs, settlements, or judgments arising from alleged errors in plan administration. Its core function is to safeguard fiduciaries from personal financial loss due to lawsuits or regulatory actions, thereby encouraging responsible plan management and compliance with legal obligations.
Fiduciary Liability Coverage. The Underwriter shall pay, on behalf of the Insureds, Loss from any Fiduciary Claim first made against the Insureds during the Policy Period or applicable Extended Reporting Period, for a Wrongful Act committed or allegedly committed by such Insureds, or by any person for whose Wrongful Acts the Insureds are legally responsible; provided, that such Fiduciary Claim is reported to the Underwriter in accordance with Section VIII of this Coverage Section.
Fiduciary Liability Coverage. Company will be included in Photronics Inc. global policy.
Fiduciary Liability Coverage. The Insurer shall pay on behalf of any Insured the Loss arising from a Claim first made during the Policy Period (or Discovery Period, if applicable) against such Insured for any Wrongful Act, and reported to the Insurer in accordance with Section V. of the General Terms and Conditions.