fiduciary liability insurance claim
These are only a few fiduciary liability insurance claim examples, as any denial of employee benefits may cause legal issues.

Cover Fiduciary Liability Claims

Employee benefits are an important source of security for anyone working as part of your company. Whether it's health or life insurance, disability, retirement plans or any other benefit, it's vital for any employee to see these qualities handles properly. This is why the Employee Retirement Income Security Act (ERISA) ruled in 1974 that fiduciaries can be held responsible if these benefits are mismanaged. Fiduciary liability insurance can help protect a company in cases where claims are filed against them related to the mishandling of employee benefit plans. Some fiduciary liability insurance claim examples are as follows.

Administrator's Error

Paperwork and communication can be jumbled when going from one person to another. If an administrator puts off work that causes financial problems, misinterprets instructions or gives the wrong information, then the affected employee can sue for what was lost due to these mistakes.

Bad Decisions or Advice

Whether involving a single employee or the entire company, if the fiduciaries give poor guidance or makes an unfair decision, they may be sued to make up for what had been denied from whoever was involved.

Delayed Benefits

Whether it's retirement, disability, health insurance or any employee benefit, if problems arise and those benefits or not taken care of, paid for or received in a timely fashion, the employee may sue the fiduciaries. These are only a few fiduciary liability insurance claim examples, as any denial of employee benefits may cause legal issues. Having fiduciary liability insurance can help cover the fees in these situations.

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