Liability under the Employee Retirement Income Security Act (ERISA) for the exposure arising out of the responsibility
as an officer or fiduciary of a company for the handling of pension funding
and other employee benefit plans. Should the fiduciary responsibility be breached,
the individual is personally liable for the loss. This resulting exposure is
usually excluded from the general liability policy, even when employee benefits
liability coverage is purchased. However, coverage may be purchased in the form
of a separate fiduciary liability policy.
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