Title 29, LaborRelease 119-110

§1110 Exculpatory Provisions; Insurance

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

Last updated Sep 23, 2026|Official source

Summary

Any part of a contract that tries to free a fiduciary from their duties or legal responsibility is void and has no force, except as allowed under sections 1105(b)(1) and 1105(d) of this title. However, the law allows three kinds of insurance: a plan can buy insurance for itself or its fiduciaries if the insurer can go after a fiduciary who breaks the rules; a fiduciary can buy insurance for their own liability; and an employer or employee group can buy insurance to cover people who act 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 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

Sep 23, 2026

Release point: 119-110