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Why You Need Fiduciary Insurance

As a fiduciary, you are legally obligated to act in the best interest of the plan participants and beneficiaries. This responsibility can expose you to significant risks, including lawsuits alleging mismanagement of funds or failure to comply with regulatory requirements. Without adequate insurance coverage, these claims can result in substantial financial burdens for your organization. Fiduciary insurance provides a safety net, offering protection against these potential liabilities and ensuring that your organization can continue to operate smoothly.