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Fiduciary Liability Insurance Woodstock

If you administer an employee benefits plans, it's important that you understand the responsibilities and burdens that role places on you. Under Canadian law, you can be held personally liable for the management and administration of that money under a variety of circumstances that you may not be aware of. It's a complicated topic, which is why you want a Staebler Insurance professional to help you understand the world of fiduciary liability in Woodstock.

Their are many potential potholes that can wind up leaving you liable when it comes to the management of benefits and assets on behalf of an organization. If an investment plan turns out sour or is deemed inadvisable in retrospect, you may be on the hook for the loss. Similarly, if there is a perceived lack of effort to educate employees and fully explain their plans and options to them, that can also expose you to risk down the road.

The unfortunate thing is, even when a dispute is the result of a honest mistake or legitimate oversight, these claims can still result in drawn out and expensive court battles. And if you lose, the results are even more devastating. The average Ontario cost for such claims is over $1 million dollars, an absolutely crippling blow to anyone.

You need protection and reassurance so you can manage your business' funds with confidence. Call a Staebler business insurance expert today about fiduciary liability insurance in Woodstock today and protect yourself and your business from any disputes that may arise in the future.