Staffing Agencies Grab Top-Tier Fiduciary Coverage Now
Why Fiduciary Coverage is Essential
The importance of fiduciary coverage cannot be overstated. It protects your agency from potential financial losses due to claims of breaches of fiduciary duty. Such claims can arise from a variety of issues, including errors in plan administration, failure to diversify investments, or even misleading statements made to plan participants2. Without adequate coverage, your agency could face significant legal fees and settlement costs that could jeopardize its financial stability.