Hauser Insurance Group is a private insurance company headquartered in Cincinnati, Ohio. Since 1971 the multifaceted company has provided solutions to clients with their diverse range of services such as risk management and employee benefits which spans all areas of America from Los Angeles to New York City. Hauser’s experienced advisors have received national recognition. The advisors include merger and acquisition experts, brokerage professionals, and risk advisors.
New York-based Hauser Insurance Group highlights the importance of maintaining good fiduciary oversight when operating an investment program for another business entity. They point to 401(k) plan sponsors who decide how employees’ retirement plans are invested, and it is also crucial when there may be a conflict of interest between what would benefit participants versus the employer sponsoring company’s best interests.
The Employee Retirement Income Security Act of 1974 (ERISA) has been steadily increasing in use as a tool for class-action lawsuits over the past few years. This federal law protects individuals with private industry retirement and health plans, but it also protects companies that adopt these policies by establishing minimum standards on coverage levels. According to Hauser Insurance Group, some strategies can be used to minimize fiduciary liability risks. They include updating internal and documentation training, delegating certain fiduciary functions, closing adherence to an IPS, purchasing fiduciary liability insurance, using available QDIA protection, and many more
Plan sponsors are constantly at risk of legal action. The best way to protect themselves is by implementing multiple layers of protection to minimize their risks and the potential for lawsuits. According to Hauser Insurance Group, a consultative strategy will give each client the best results. By checking each firm’s needs and suggesting targeted products to meet those requirements, all our clients are well prepared for any challenge they may face in their business endeavors.