Duties and Liabilities of Insurance Brokers
Cases in which insurance brokers’ liability is in question depend in part on whether brokers are seen to be serving a fiduciary role. A person or an entity is a fiduciary with respect to a plan to the extent (i) he exercises any discretionary authority or discretionary control respecting management of such plan or exercises any authority or control respecting management or disposition of its assets, or he has any discretionary authority or discretionary responsibility in the administration of such plan.
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