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20 Δεκ 2023 · Fiduciary duty is a legal and ethical obligation that requires insurance professionals to act in the best interests of their clients. Insurance professionals are expected to exercise a high level of care, loyalty, and good faith in their dealings with clients.
22 Ιουλ 2022 · Most often fiduciaries are required to charge a fee for their services, expressed either as a flat fee or a percentage of client assets under management. While fiduciary duties can be clearly defined, regulation can be subjective.
1 Οκτ 2023 · Learn about the role of a fiduciary in insurance, their responsibilities, and the legal obligations to act ethically when handling the money or property held in trust.
19 Μαρ 2024 · Fiduciaries are persons or organizations that act on behalf of others and are required to put the clients’ interests ahead of their own, with a duty to preserve good faith and trust. Fiduciaries...
15 Νοε 2023 · n. a person who holds a position of trust in a fiduciary relationship. A trusted reference in the field of psychology, offering more than 25,000 clear and authoritative entries.
22 Νοε 2023 · In the context of insurance, a fiduciary is someone who is authorized to manage and make decisions regarding the policyholder’s insurance coverage and financial assets. Fiduciaries in insurance can take various forms, including insurance agents, brokers, advisors, and insurance companies themselves.
Fiduciary liability insurance is designed to protect the fiduciary from personal liability for losses resulting from the failure to properly manage the assets of the other party. It may also cover legal costs associated with defending a claim for a breach of fiduciary duty.
