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IQ: Travelers Surveys Agencies on Fiduciary Liability

Although 81 percent of agents report that their clients do not have a good understanding of their fiduciary exposures, 65 percent said they were comfortable…

By Industry IQ | Updated on December 20, 2011

Although 81 percent of agents report that their clients do not have a good understanding of their fiduciary exposures, 65 percent said they were comfortable talking about fiduciary needs with clients, according to a Travelers Enterprise Market Research survey.

The study revealed that a small number of clients are initiating a discussion with agents about fiduciary exposure. Only 17 percent of the independent insurance agency respondents said their clients were concerned about fiduciary liability. However, almost half (46 percent) said they are providing quotes; and 48 percent of those agents said they have clients make the purchases.

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