Foundershield vs Liberty Mutual: Fidelity Bonds

Founder Shield brokers ERISA fidelity bonds for plan sponsors and fiduciaries, with required minimums tied to plan assets handled. Liberty Mutual Surety lists fidelity bonds in its commercial bond catalogue.

Van Ness Partners presents a practical comparison of source materials relevant to financial crime exposures.Research updated 2026-09-30

Founder Shield’s record describes a an erisa-specific placement versus a general bond listing; Liberty Mutual’s reviewed offering gives a distinct route or detail. Check both quoted forms for your business.

Sources consulted

  1. 01
    About Us

    Founder Shield · “Founder Shield is the innovation arm of The Baldwin Group”; company history and mission · accessed 2026-09-23

  2. 02
    ERISA Fidelity Bond

    Founder Shield · What Is ERISA Fidelity Bond Insurance?; Who Needs ERISA Fidelity Bond Insurance Coverage?; What Does ERISA Fidelity Bond Insurance Cover? · accessed 2026-09-23

  3. 03
    How Do You Decide Which Carriers to Approach?

    Founder Shield · FAQ answer on carrier selection: works exclusively with A-rated (AM Best) carriers, matched by industry appetite · accessed 2026-09-23

  4. 04
    Commercial Bonds

    Liberty Mutual Business Insurance · ‘Broad slate of commercial bonds’ enumerates court/fiduciary, appeal, tax appeal, self-insurer workers compensation, license/permit, reclamation, lost instrument, utility payment, service/supply, business services, public official, ERISA, fidelity and miscellaneous bonds; page states distinct large/small commercial audiences and qualified program scale. · accessed 2026-09-29

  5. 05
    Glossary of Insurance Terms

    National Association of Insurance Commissioners · Fidelity; Surety Bond · accessed 2026-09-16

  6. 06
    Crime Terms and Conditions

    Travelers Casualty and Surety Company of America · I.A.1–3 p.1; III.S pp.8–9; V.B.1–2 pp.18–20; CRI consideration p.1; III.P p.8; V.A.3 pp.16–17; V.A.4 p.17; V.B.3 p.20; IV.L p.15 · accessed 2026-09-16

  7. 07
    Field Assistance Bulletin No. 2008-04: Guidance Regarding ERISA Fidelity Bonding Requirements

    U.S. Department of Labor, Employee Benefits Security Administration · Q1–Q3 pp.2–3; Q2 pp.2–3 · accessed 2026-09-16

What Are the Key Differences Between Founder Shield and Liberty Mutual Fidelity Bonds?

An ERISA-specific placement versus a general bond listing

Founder Shield describes an ERISA Fidelity Bond for plan sponsors and fiduciaries and says it places the bond with outside carriers. Liberty Mutual Surety lists fidelity bonds in its broader commercial bond catalogue without naming a bond form. Plan sponsors should request the specific ERISA form and required limit from Liberty Mutual before comparing it with Founder Shield’s placement. [2] [4]

Plan-asset theft versus unspecified obligations

Founder Shield identifies theft, embezzlement, forgery, misappropriation, and larceny involving benefit-plan funds, and explains the ERISA minimum formula. Liberty Mutual’s reviewed page does not state which fidelity obligation it offers. Buyers should verify that a Liberty Mutual proposal protects the plan assets and meets the plan’s required amount. [2] [4]

What Should You Confirm in Founder Shield and Liberty Mutual Fidelity Bonds Quotes?

  • Ask Founder Shield which insurer issues the bond and confirm the plan’s calculated amount; ask Liberty Mutual for its ERISA form, covered acts, and limit. [2] [4]

Crime coverage

Founder Shield

  • role: Founder Shield is a retail insurance brokerage, described on its site as “the innovation arm of The Baldwin Group,” and places Founder Shield ERISA Fidelity Bond with third-party carriers rather than underwriting the policy itself. About-us page; applies to Founder Shield's brokerage model generally, restated here for this line.company-reportedSource ↗
  • eligibility: Founder Shield says this bond is required for plan sponsors offering a retirement plan, the fiduciaries who manage it, third-party administrators, and even small businesses with a simple 401(k). ERISA Fidelity Bond product page.company-reportedSource ↗
  • coverage: Founder Shield lists theft and embezzlement of plan assets, forgery, misappropriation and larceny by those who handle a benefit plan's funds as what an ERISA fidelity bond covers. Product page; the issued bond and its terms control actual coverage.company-reportedSource ↗
  • limits: Founder Shield's page states the federal ERISA bonding requirement: at least 10% of plan funds handled, with a minimum bond of $1,000 and a maximum of $500,000 (up to $1 million for plans holding employer securities). This is the statutory minimum, not a Founder Shield-specific limit. Product page describing the ERISA statutory bonding requirement.company-reportedSource ↗
  • insurer: Founder Shield says it places policies, including Founder Shield ERISA Fidelity Bond, only with carriers rated A- or better by AM Best, chosen for the client's industry. It does not name the issuing insurer for this line; that depends on which carrier the policy is placed with. General carrier-selection FAQ, not specific to this line's placements.company-reportedSource ↗
  • application: You request Founder Shield ERISA Fidelity Bond through Founder Shield's website or an insurance advisor rather than binding coverage directly; Founder Shield says its placement team then approaches carriers on the client's behalf. About-us and carrier-selection pages describe the general placement process, not a line-specific application form.company-reportedSource ↗Source ↗

Liberty Mutual

  • role: Liberty Mutual Surety lists fidelity bonds among its commercial bond solutions; it does not identify a particular bond form for a buyer. Liberty Mutual’s cited product or program overview documents this description. It does not establish the issuing insurer for an individual quote, exact state or provincial availability, the policy form, complete exclusions, or terms offered to a particular buyer; confirm those in the quote and policy documents.company-reportedSource ↗
  • coverage: The page identifies fidelity bonds as one item in a broad commercial-bond catalogue but does not describe the covered obligation or claim trigger for a particular fidelity bond. Liberty Mutual’s cited product or program overview documents this description. It does not establish the issuing insurer for an individual quote, exact state or provincial availability, the policy form, complete exclusions, or terms offered to a particular buyer; confirm those in the quote and policy documents.company-reportedSource ↗
  • eligibility: The commercial-bonds page describes solutions for individual professionals, midsize businesses and large companies; availability of each bond type for each buyer is not stated. Liberty Mutual’s cited product or program overview documents this description. It does not establish the issuing insurer for an individual quote, exact state or provincial availability, the policy form, complete exclusions, or terms offered to a particular buyer; confirm those in the quote and policy documents.company-reportedSource ↗
  • services: Liberty Mutual Surety describes its commercial bond solutions as tailored across business sectors and supported by specialized surety underwriting teams. Liberty Mutual’s cited product or program overview documents this description. It does not establish the issuing insurer for an individual quote, exact state or provincial availability, the policy form, complete exclusions, or terms offered to a particular buyer; confirm those in the quote and policy documents.company-reportedSource ↗
  • limits: The cited public overview does not establish the limits, deductibles, exclusions or form terms that would apply to a specific buyer. Ask for the quote and specimen or issued policy forms before treating a listed feature as covered.not-disclosedSource ↗

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