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Factors Affecting Fiduciary Insurance Rates
Several factors influence the rates of fiduciary insurance. These include the size of your company, the number of employees, the types of benefit plans offered, and your history of claims. Insurers will assess the complexity and size of the plans you manage to determine the risk level. Companies with a history of claims or those managing large and complex plans may face higher premiums. However, shopping around and comparing different policies can help you find competitive rates.