A generic term for persons or legal entities such as executors, trustees, and guardians appointed by the court, under a will, or by a trust to manage, control, or dispose of the property of others.
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A person charged with the money or property of another, which is being held in trust. The fiduciary is legally obligated to act ethically in this position.
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US: A person who holds something in trust for another.
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MEDICAL,USA: Individual in a position of trust with regard to the affairs of another, who has a duty to act primarily for the benefit of the other, with respect to a particular undertaking. For example, when an insurance company manages pension funds, the insurance company is acting as a fiduciary.
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Person, corporation, or other entity occupying a position of trust. especially one who manages the affairs of another.
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UK: The term is synonymous with trustee. A fiduciary relationship arises when one person puts trust in another and that other, the fiduciary, is under a duty to act in the first person’s best interests in good faith without ulterior motive. Examples include partnerships, trustee and beneficiary, directors and the company. See DIRECTORS’ AND OFFICERS’ LIABILITY.

This is a particular type of fidelity bond that guarantees the faithful performance of a fiduciary (e.g., a trustee, guardian, or executor of an estate) appointed by a court of law.

Bonds that guarantee an honest accounting and faithful performance of duties by administrators, trustees, guardians, executors, and other fiduciaries. Fiduciary bonds, in some cases referred to as probate bonds, are required by statutes, courts, or legal documents for the protection of those on whose behalf a fiduciary acts. They are needed under a variety of circumstances, including the administration of an estate and the management of affairs of a trust or a ward. See Judicial bonds.
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Fiduciary bonds provide indemnity if Trustees, Receivers, Executors and Administrators controlling property though Court order do not faithfully and honestly perform their duties.

A fiduciary is a person, corporation, or association that holds assets in trust for another party and is required to act in the best interest of that party. For example, a pension fund manager is required to manage the assets of the plan in the best interest of the plan’s beneficiaries.The Employee Retirement Income Security Act of 1974 (ERISA) states that anyone who has any discretion over any type of employee benefit plan is a fiduciary. Fiduciaries can be held liable for negligence or fraud regarding the plan and for the acts of outside entities that provide services such as actuarial firms and third-party administrators.Fiduciary liability insurance protects fiduciaries for claims incurred in the administration of an employee benefit plan. Although often written as a separate policy, it is also often included in Directors and Officers Liability coverage.

ERISA requires a fidelity bond on plan trustees as well. The bond will pay for dishonest acts on the part of the trustees for the benefit of the plan only. Thus, the fidelity bond reimburses the plan for losses due to dishonest acts and the liability insurance protects the trustee for alleged negligence.

A second coverage often purchased with fiduciary liability is Employee Benefits Liability coverage. This covers plan administrators for errors and omissions in the management of the plan. An example is if the firm failed to enroll an employee in the firm’s group health plan.

The insurance covers claims arising from a breach of the responsibilities or duties imposed on a benefit administrator or a negligent act, error, or omission of the administrator.

This insurance covers claims arising from a breach of the responsibilities or duties imposed on a benefit plan administrator or a negligent act, error, or omission of the administrator. Coverage is often found in a commercial crime policy.

A category of insurance; for example, the health insurance field. This term can also refer to a specific region being served by an agent or insurer.

Field Staff : (i) The sales force of an Insurance Company. (ii) The agents and supervisory personnel of insurers who operate away from the branch office/micro office/extension counter of the company.
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MEDICAL,USA: Insurance agents who work out of an insurance company’s local or regional field offices and not at the home office.
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The agents and supervisors working for an insurance company in local offices.