What Does Fiduciary Holding In Trust Mean?

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What does Fiduciary Holding In Trust mean? Read on to discover the definition & meaning of the term Fiduciary Holding In Trust - to help you better understand the language used in insurance policies.

Fiduciary Holding In Trust

Fiduciary Holding In Trust

A person or legal entity holding assets or information as an agent-in-trust for another. For example, when an agent collects an insurance premium, he/she holds the money in a fiduciary capacity. The money does not belong to the agent as the fiduciary, so he/she should remit the premium as soon as possible.

We hope the you have a better understanding of the meaning of Fiduciary Holding In Trust.

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