What Is a One Sentence Way To Describe Fiduciary Liability?
Fiduciary liability refers to the responsibility held by individuals or entities who manage others' assets or interests, risking legal liability if they fail to act in their beneficiaries' best interests.
343
Related Questions
A Business Travel Accident (BTA) policy provides comprehensive coverage for employees on business trips, including accidental death, medical expenses, emergency evacuation, repatriation of remains, travel…
315
The trustees of a 401(k) plan are individuals or entities appointed to oversee the management of the plan's assets. They hold a fiduciary responsibility to…
548
A.M. Best Ratings are a comprehensive measure used in the insurance industry to assess the financial strength and creditworthiness of insurance companies. The ratings are…
294
Employee Stock Ownership Plans (ESOPs) offer a variety of benefits for both employers and employees, promoting company growth through employee ownership and potentially offering significant…
537
In the context of insurance, an "additional insured" refers to a person or entity that is not automatically included as an insured under an insurance…
523
Limitation of liability refers to a contractual agreement between parties that caps the amount of compensation one party can receive from the other in the…
452
A Waiver of Subrogation is an insurance-related term that can often seem complex but can be broken down into simpler components. Basic Concept: 1. Subrogation…
533