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Factors Affecting Fiduciary Liability Insurance Costs

Several factors influence the cost of fiduciary liability insurance, including the size of your business, the number of employees, the types of plans offered, and your claims history. Larger companies with more complex benefit plans generally face higher premiums. Additionally, a history of claims can increase costs, as insurers perceive a higher risk. However, by maintaining a clean record and implementing robust risk management practices, you can potentially reduce your premiums.