๐Ÿ“ข Too many exams? Donโ€™t know which one suits you best? Book Your Free Expert ๐Ÿ‘‰ call Now!

  • google app store apple app store
  • โœ–

      Question

      Legal responsibility of a fiduciary to safeguard assets

      of beneficiaries is termed as?
      A Endorsement Correct Answer Incorrect Answer
      B Fiduciary Liability Correct Answer Incorrect Answer
      C Escrow Account Correct Answer Incorrect Answer
      D Earned Premium Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Fiduciary liability insurance (and management liability insurance) is targeted at protecting businesses' and employers' assets against fiduciary-related claims (PDF) of mismanagement of a company's employee benefit plans. It is not required by the Employee Retirement Income Security Act (ERISA) or any federal statute.

      Practice Next
      More Insurance Awareness Questions
      ask-question