NU Online News Service, Aug. 13, 3:44 p.m. EDT
A new report from the Chubb Group of Insurance Companies insists that, now more than ever, fiduciary liability insurance should be included within any corporate risk management program.
In the current work environment of staff reductions and employee benefits to attract and retain workers, fiduciary liability exposure needs to be recognized.
"Employees who still have jobs may not be inclined to rock the boat, but those who find themselves overboard are more likely to take legal action against employers, especially if their 401(k) plans sustained losses before they were terminated," said Christine Dart, vice president and manager for worldwide fiduciary liability at Chubb.
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