Fiduciary liability covers the individuals who take part in the decision-making of an employee benefit plan, administer a plan or its assets, or whose name or title is included on benefit plan documents. It is designed to provide financial resources when a business or representative has a lawsuit filed against them for claims of negligence or breach of duty. Those covered by a fiduciary plan may include directors and officers, plan trustees, employers (plan sponsors), internal investment committees, and plan administrators.