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Factors Influencing Insurance Costs

Several factors can influence the cost of fiduciary insurance, including the size of the plan you manage, the number of participants, and the total assets under management. Additionally, the industry you operate in and your claims history can impact premiums. For instance, plans with a history of frequent claims or those in high-risk industries may face higher premiums. It's essential to provide accurate and comprehensive information when requesting quotes to ensure you receive precise estimates. By understanding these factors, you can better prepare for the financial commitment involved and make informed decisions about your coverage options.