CHICAGO, Jan. 15, 2025 -- Fiduciary insurance underwriting company Encore (formerly Euclid) Fiduciary, a division of Specialty Program Group LLC, announced that it has filed an amicus brief in Cunningham v. Cornell University, No. 23-1007, urging the U.S. Supreme Court to adopt stronger pleading standards to curb the growing trend of abusive ERISA class action litigation.
Under the leadership of industry expert Daniel Aronowitz, Encore's President, Encore continues to champion the interests of America's employee benefit plan sponsors and fiduciaries. This latest effort underscores Encore's role as a trusted advocate and thought leader in fiduciary liability insurance.
"The claims in the Cunningham case are part of a pattern of turning voluntary employee plans into unfair liability traps," said Aronowitz. "Our goal was to document the ERISA litigation abuse for the Supreme Court, and to advocate for fair fiduciary pleading standards that protect fiduciaries who diligently follow best practices."
The Cunningham case highlights the broader issue of ERISA litigation abuse, with hundreds of cases filed based on questionable claims about plan fees and investments. Encore's amicus brief emphasizes the need for rigorous standards to weed out such meritless lawsuits, safeguarding the financial well-being of employee benefit plans and their participants.
This action reflects Encore's commitment to supporting plan sponsors and fiduciaries with both innovative insurance solutions and thought leadership in the field of fiduciary liability. As the Supreme Court considers this landmark case, Encore continues to lead the conversation on the future of ERISA litigation.
If you want to learn more about Encore's amicus brief and their broader implications, visit the Fid Guru Blog to read Daniel Aronowitz's comprehensive analysis. To explore the full details of Encore Fiduciary's amicus brief and its arguments, you can access the document here.
About Encore Fiduciary
Encore Fiduciary, formerly Euclid Fiduciary, is a division of Specialty Program Group that serves as a leading provider of fiduciary liability insurance for America's employee benefit plan sponsors and fiduciaries. The Encore Fiduciary team is known for its fiduciary expertise, thought leadership, and advocacy for America's plan sponsors, including its highly regarded Fid Guru Blog.
About Specialty Program Group
Specialty Program Group LLC (SPG) is a leading specialty platform headquartered in Chicago, IL, with a diverse portfolio of specialty insurance operations spanning underwriting management, digital solutions, wholesale and specialty retail brokerage, and insurance services. SPG has a track record of scaling industry leading businesses by providing access to business resources, technology and process efficiency, capital and investment, deep carrier relationships, and a broad distribution network. Visit specialtyprogramgroup.com to learn more about how SPG can help you scale your specialty business.
CONTACT:
SPG Media: Lea Prses
Lea.prses@specialtyprogramgroup.com
Encore Fiduciary: John O'Brien
Phone: 571.730.4810
JOBrien@encorefiduciary.com
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