Companies take premiums they promise to preform in the future if an uncertain event occurs.
the responsibility of a person or organization to handle finances of and gifts to the organization in a trustworthy manner
An obligation to act in the best interest of another party. This type of obligation typically exists when one person places special trust and confidence in another person and that responsibility is accepted.
A real estate agent's legal obligation to represent the client's best interest.
A serious responsibility of trust imposed upon one by the law, requiring the utmost degree of integrity and prudence in dealing with the property entrusted to the fiduciary (e.g. Trustee , Administrator, Executor, Guardian, Conservator).
a relationship of trust to another person. For example, a broker has a fiduciary responsibility for his or her client.