Ep #31: How to Navigate the Current Fiduciary Liability Insurance Market with Tom Schrandt
Tom discusses the current market for fiduciary liability insurance and how this has recently changed due to ERISA litigation.
Our guest today is Tom Schrandt, Vice President at Lockton Affinity LLC, a Lockton Companies subsidiary that specializes in insuring small businesses, non-profits, associations, groups, and franchises. Due to ERISA litigation, the fiduciary liability insurance market is really in turmoil— many plan sponsors either can’t get coverage or they're being quoted pretty insane deductibles that make it inaccessible. So, in this episode, Tom will be talking in-depth about what is happening.
Listen in as we discuss the current market for fiduciary liability insurance and how it's changed due to ERISA litigation. You will learn why many carriers are backing away from this market due to fear or lack of understanding, what plan sponsors and their advisors can do to respond, and why it’s more important than ever to work with an insurance partner who specializes in what you require for your business.
Listen in as we discuss the current market for fiduciary liability insurance and how it's changed due to ERISA litigation. You will learn why many carriers are backing away from this market due to fear or lack of understanding, what plan sponsors and their advisors can do to respond, and why it’s more important than ever to work with an insurance partner who specializes in what you require for your business.
