By whom is a “fiduciary duty” owed?
A - An employee to a fellow employee who might be harmed by their actions
B – Any employee who has signed a contract of employment to their employer
C – Anyone whose work involves paying or receiving money
D – Someone who occupies a position of trust in relation to another and acts on their behalf
D: A fiduciary is a person who occupies a position of trust and is required to act for the latter’s benefit.
B: Days of grace are not an extension of cover, but rather a specified number of days (15 or 30 days) into the next period of insurance when the insured can still renew cover.
a: Because it allows them to commence a recovery action at an earlier stage b: Because it allows them to peruse a recovery in their own name
C: A professional client must confirm their status in writing