How would your insurance respond if a plan participant sued your company and your managers alleging an error in the calculation of your company’s benefits? As a fiduciary, you can be held personally liable for losses to a benefit plan incurred as a result of an alleged error, omission or...
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Company, the Directors may execute or cause to be executed any mortgage, charge, or security over or affecting the whole or any part of the assets of the Company by way of indemnity to secure the Director or person so becoming liable as aforesaid from any loss in respect ofsuchliability. ...
a.Of or relating to a duty of acting in good faith with regard to the interests of another:a company's fiduciary responsibility to investors. b.Of or being a trustee or trusteeship. c.Held in trust. 2.Of or consisting of fiat money. ...
Defines and describes fiduciary liability insurance in the U.S. Coverage of loss arising from claims made against the fiduciaries of a company's employee benefit plans for their acts, errors, or omissions; Requirement o...
Retirement Income Security Act (ERISA) was passed by Congress in 1974 and demands that anyone offering financial advice or responsibility for another's retirement funds must be a court-appointed fiduciary. The law also requires the purchase of fidelity bonds and fiduciary liability insurance. ...
Defines and describes fiduciary liability insurance in the U.S. Coverage of loss arising from claims made against the fiduciaries of a company's employee benefit plans for their acts, errors, or omissions; Requirement of a fiduciary under the Employee Retirement Income Security Act of 1974; Provis...
RegisterLog in Sign up with one click: Facebook Twitter Google Share on Facebook Fiduciary (redirected fromfiduciary duty) Dictionary Thesaurus Legal Acronyms Encyclopedia Wikipedia Related to fiduciary duty:Fiduciary Responsibility Fiduciary One who must act for the benefit of another party. ...
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A business can insure the individuals who act as fiduciaries of a qualified retirement plan, such as the company’s directors, officers, employees, and other natural person trustees. Fiduciaryliability insuranceis meant to fill in the gaps existing in traditional coverage offered through employee bene...