What is a primary responsibility of a fiduciary in the insurance context?

In the insurance context, a fiduciary has the primary responsibility of managing the funds and interests of others with the utmost good faith and integrity. This includes the obligation to handle clients' premiums promptly and accurately, ensuring that the premiums are sent to the insurance company as required.

This duty reflects the trust placed in fiduciaries by clients, who expect that their financial transactions will be handled with diligence and care. The timely payment of premiums is crucial, as it maintains the policy's active status and ensures that the coverage remains in force, thereby protecting the insured's interests.

While ensuring comprehensive coverage, creating policies, and investing funds might be elements of an insurance professional's responsibilities, they do not specifically define the fiduciary responsibility in the same way that promptly sending premiums does. These other tasks may be part of broader service offerings but do not carry the same level of fiduciary obligation as the handling of client funds.