Manufacturing Plants Secure Efficiency with Fiduciary Insurance Solutions
Real-World Examples and Statistics
According to a report by the U.S. Department of Labor, there have been numerous cases where companies faced significant penalties due to fiduciary breaches1. For instance, a manufacturing company in the Midwest faced a lawsuit that resulted in a $1.5 million settlement due to mismanagement of their 401(k) plan. Such examples highlight the critical need for fiduciary insurance to avoid similar financial pitfalls.