Trustee

{
  "id": "MLC-T-INS-003386",
  "term": "Trustee",
  "field": "Insurance and risk management",
  "definition": "An individual or entity legally appointed to hold and administer assets or property for the benefit of another party, known as the beneficiary. In an insurance context, a trustee might manage a trust fund established for a self-insurance program or an employee benefit plan. The trustee has a fiduciary duty to act in the best interests of the beneficiaries.",
  "url": "https://mlchart.com/terminology/insurance/trustee/"
}