Special Report: “Who May Sue You and Why: How to Reduce Your ERISA Risks, and the Role of Fiduciary Liability Insurance”

By a News Reporter-Staff News Editor at Insurance Weekly News -- In a new Special Report, "Who May Sue You and Why: How to Reduce Your ERISA Risks, and the Role of Fiduciary Liability Insurance," nationally recognized ERISA litigator Lars C. Golumbic of Groom Law Group explores the implications of this trend and the ways in which potential litigation targets can take steps to mitigate and insure against this growing risk. This Special Report is sponsored by Chubb.

ERISA plan sponsors, fiduciaries, and service providers are facing an unprecedented upswing in litigation, costing fiduciaries millions of dollars to defend and exposing them to many more millions of dollars in potential liability. Fueled by a number of key court victories for plaintiffs and several multi-million-dollar settlements, the trend shows no sign of slowing down.

"Although ERISA class-action lawsuits have been around for years, we've recently seen an expansion in the number of plaintiffs' law firms bringing these cases. More and more firms are jumping on the bandwagon as they see other firms' investments in ERISA litigation paying off," says Golumbic. "What's more, even the established firms have significantly expanded their fiduciary targets-and now no plan sponsor or fiduciary is immune from suit."

Keywords for this news article include: Legal Issues, Groom Law Group Chartered.

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