Wendy Katherine Von Wald | Source | Fiduciary Product Manager at Travelers

2020 has just been an unprecedented year in terms of the suits filed. It’s just been quite astonishing. I don’t know that there are a lot of new plan sponsors out there buying insurance. Certainly, those that were [already] purchasing it, we’ve seen them looking for higher limits.

Companies that offer employee benefit plans can't avoid liability by blaming plan participants for investment decisions and can't escape responsibility by hiring or blaming a service provider.