Why Fiduciary Liability?
Do you offer a retirement plan? 401(k) Plan? Employee Benefit plans like group health, life, dental, etc.?
Can you feel the concentric circles on your back? You are a "target" for suit if you're alleged to have mismanaged any of these type of plans.
Guess what? Your personal assets, again, are attachable to Fiduciary type suits. It's the law! ERISA law.
So, who is a "fiduciary?" Anyone who has control over any employee benefit or pension/retirement type plans.
You say you outsource the handling and investing to a TPA?...or to your employees? Sorry, the Supreme Court says that isn't a valid defense.
What's This Cost? - Most firms can obtain for under $1,500/year...or even much less.