Product Update

Fiduciary Liability Coverage Discussion Updated in Professional Liability Insurance

This Professional Liability Insurance release contains updates of several of the discussions within the "Fiduciary Liability Coverage Analysis" section. Throughout the entirety of the section, specimen policy language has been updated to reflect the products in the current market.

An update has also been provided to highlight important coverage extensions that some fiduciary liability insurers are now offering.

The update also touches on some of the nuances that have developed over time with regard to certain definitions, such as "Plan," "Claim," or "Loss."

In addition to other sweeping updates made in the "Exclusions in Fiduciary Liability Policies" section, a specimen cyber exclusion has been added to exemplify how some fiduciary insurers are responding to this exposure.