Title 29 — LaborRelease 119-73

§1110 Exculpatory provisions; insurance

Title 29 › Chapter CHAPTER 18— - EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM › Subchapter SUBCHAPTER I— - PROTECTION OF EMPLOYEE BENEFIT RIGHTS › Subtitle Subtitle B— - Regulatory Provisions › Part part 4— - fiduciary responsibility › § 1110

Last updated Apr 6, 2026|Official source

Summary

Agreements that try to free a fiduciary from responsibility or liability for duties under this part are not valid, except as allowed by sections 1105(b)(1) and 1105(d). (A fiduciary is a person who manages a benefit plan.) This rule does not stop a plan from buying insurance for its fiduciaries or for the plan itself to cover losses caused by a fiduciary, as long as the insurer can seek repayment from a fiduciary who breached a duty. It also allows a fiduciary to buy insurance for their own liability, and allows an employer or employee organization to buy insurance to cover people who serve as fiduciaries.

Full Legal Text

Title 29, §1110

Labor — Source: USLM XML via OLRC

(a)Except as provided in section 1105(b)(1) and 1105(d) of this title, any provision in an agreement or instrument which purports to relieve a fiduciary from responsibility or liability for any responsibility, obligation, or duty under this part shall be void as against public policy.

(b)Nothing in this subpart 11 So in original. This part does not contain subparts. shall preclude—

(1)a plan from purchasing insurance for its fiduciaries or for itself to cover liability or losses occurring by reason of the act or omission of a fiduciary, if such insurance permits recourse by the insurer against the fiduciary in the case of a breach of a fiduciary obligation by such fiduciary;

(2)a fiduciary from purchasing insurance to cover liability under this part from and for his own account; or

(3)an employer or an employee organization from purchasing insurance to cover potential liability of one or more persons who serve in a fiduciary capacity with regard to an employee benefit plan.

Reference

Citations & Metadata

Citation

29 U.S.C. § 1110

Title 29 — Labor

Last Updated

Apr 6, 2026

Release point: 119-73