Ensure Peaceful Operations Protect with Fiduciary Insurance Mastery
The Importance of Fiduciary Insurance
Fiduciary duty is a legal obligation that requires plan administrators to act in the best interests of the plan participants. However, even with the best intentions, mistakes can happen, leading to costly lawsuits. According to a 2022 report by the U.S. Department of Labor, there has been a significant increase in fiduciary-related litigation, with settlements reaching hundreds of millions of dollars1. By having fiduciary insurance, businesses can mitigate these risks and ensure that they are not financially crippled by unexpected legal challenges.