Do You Need Fiduciary Liability Insurance?

Topics:
Accounting software,
Disability Insurance
Tags:
Business Operations,
Corporate Insurance,
Fiduciary Liability,
Finance,
Financial Planning,
Insurance,
Life Insurance
Source:
Thomson Gale

Vendor Registration: required

Overview: When a small tool-and-die company that offered its employees Long-Term Disability (LTD) and life insurance plans failed to notify the life insurance company that premium payments would be suspended for an employee out on LTD, the life insurance was terminated. When the employee died and the life insurance company denied coverage due to failure to pay life insurance premiums, the estate sued the fiduciaries of the plan. The judgment against the fiduciaries was $52,000.

(Is this item miscategorized? Does it need more tags? Let us know.)

Format: HTML | Date: Apr 2005

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