Fiduciary Insurance Deals Financial Firms Can't Ignore
Fiduciary insurance deals are not just a necessity but an opportunity for financial firms to mitigate risks while enhancing their competitive edge—browse options to discover how these policies can safeguard your business interests.
Understanding Fiduciary Insurance
Fiduciary insurance is a specialized form of liability insurance designed to protect financial firms and their executives from claims related to mismanagement of employee benefit plans. As regulations around fiduciary responsibilities become increasingly stringent, having the right insurance coverage is crucial to avoid potentially crippling legal costs. This type of insurance covers a range of issues, including errors in plan administration, improper advice, and breaches of fiduciary duty1.