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Exploring Coverage Options and Costs
When searching for fiduciary liability insurance, it's essential to understand the various coverage options available. Policies can vary widely in terms of coverage limits, exclusions, and premiums. Typically, premiums are determined based on factors such as the size of the plan, the number of participants, and the fiduciary's experience. For example, a small business with a modest employee benefit plan might pay premiums starting at a few thousand dollars annually, while larger plans could see significantly higher costs1. It's advisable to compare different policies and providers to find the best fit for your needs.