Designing fiduciary liability protection
Article Abstract:
All custodians, plan administrators, and trustees of employee benefit plans should be covered by fidelity bond and fiduciary liability insurance. A fidelity bond is required by the Employee Retirement Income Security Act of 1974 and fiduciary liability insurance, although not required, is nearly universally purchased. Fidelity bonds cover loss by theft, misappropriation, or physical destruction of assets. Fiduciary insurance covers individuals acting as fiduciaries for company plans, whether employee benefit or retirement plans. Fiduciary insurance provides indemnification and defense coverage for plan sponsors, administrators, or pension fund managers or trustees. These policies, plus strict internal control and supervision of benefit plan personnel, help safeguard company assets.
Publication Name: Cashflow Magazine
Subject: Business
ISSN: 0196-6227
Year: 1988
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Is a new product a liability risk?
Article Abstract:
Analyzing the liability associated with the manufacture of new products is a step-by-step process that resembles the steps in product development process. The risk analysis should consider: (1) product design and testing, (2) production processes and packaging, (3) sales and marketing efforts, (4) installation, service and repair procedures related to the new product, and (5) recordkeeping procedures relative to the new product. Each of these steps in the analysis is discussed in detail. New products generally are categorized as being one of four types of products developed: established products that have new market potential, updated product offerings, new products for an existing market, or new products with new markets.
Publication Name: Cashflow Magazine
Subject: Business
ISSN: 0196-6227
Year: 1986
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Banks blanking corps in battle over who holds EFT liability
Article Abstract:
New electronic funds transfer (EFT) guidelines covering the responsibilities between banks and their customers are being drafted, and will become part of Article 4A of the Uniform Commercial Code when completed. Article 4A is likely to favor banks and give them reduced liability, since banks are participating more aggressively than corporations in formulating the guidelines. Corporations still have time to influence Article 4A, and they can benefit by formulating strategies for dealing with banks over individual EFT liability agreements.
Publication Name: Cashflow Magazine
Subject: Business
ISSN: 0196-6227
Year: 1988
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