An ERISA bond is just one piece of the protection puzzle.

Many plan fiduciaries assume that the bond covers them personally— but it doesn’t. That’s where Fiduciary Liability Insurance FLI comes in.

FLI is a separate layer of protection that covers you, the fiduciary, in the event of an administrative error, breach of fiduciary duty, or other claim related to the management of the retirement plan.

You are legally allowed—and encouraged—to protect yourself with this insurance. In fact, ERISA Section 410 explicitly permits fiduciaries to obtain coverage for personal liability, even though the plan itself cannot indemnify you.

And there’s more: in today’s digital world, cyber liability coverage is no longer optional. The Department of Labor DOL has issued direct guidance: not taking proper steps to mitigate cyber risk is a fiduciary breach in itself