Trustee Indemnity Insurance
Offers financial protection to individuals against civil, criminal and regulatory proceedings
Compare trustee indemnity insurance
Trustee Indemnity Coverage Explained
Compare protection for individuals that can become personally liable for their actions on behalf on non-profits
At get indemnity™ trustee indemnity insurance quotes start at £198 annually or £16.50 monthly. Below we provide some background and explain how trustee indemnity can protect your interests and the charitable organisation.
What is trustee indemnity insurance?
The insurance will pay legal costs incurred in defending allegations and damages arising from any judgment, award or settlement.
Why is trustee indemnity insurance important?
Any trustee, officer or employee (including volunteer) performing duties on behalf of the organisation that fails to meet their legal obligations can be held personally liable.
Trustee indemnity insurance claims examples
Individuals acting on behalf of organisations are exposed to numerous obligations and can be the target of legal proceedings, both individually and jointly.
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Breach of law |
Employment practice claims (against trustees) |
Insolvency claims |
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Breach of trust |
Breach of regulation |
Decisions exceeding authority |
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Claims made on behalf of the organisation |
Creditor claims |
Wrongful trading |
What cover is available under a trustee indemnity policy?
Trustee Indemnity
Organisation Insurance
Employment Practices Liability
Crime Insurance
Professional Indemnity Insurance
Additional covers available under the one policy can include: kidnap & ransom, cyber insurance and pension trustees liability insurance.
How do insurers underwrite our trustee insurance?
A key consideration for insurers is your financial stability and operational history. If you maintain a strong revenue and profitability with little debt, you are likely to obtain more favourable terms.
How is fraudulent or criminal trustee conduct dealt with?
In most cases, the insurer will defend the individual on the basis they are innocent until proven guilty and will require a final adjudication or admission of guilt from the offending individual.
How does a trustee indemnity policy work?
Trustee indemnity insurance policies have therefore been designed to provide cover under the different scenarios. Either pay on behalf of the trustee (Side A); or reimburse the organisation after it has indemnified the trustee (Side B). It is worth noting that most policies will not maintain a deductible for Side A, but will maintain a deductible for Side B.
How do trustee indemnity limits of liability work?
There will often be the option to purchase an extended reporting period and this should be considered because a transaction will increase the potential for future legal disputes.
How much trustee indemnity insurance should we purchase?
The limit of liability you purchase will depend on your perception of the exposure and how much you are prepared to spend to mitigate the risk.
How to compare trustee indemnity insurance quotes?
Increasing competition within the market means cover offered by insurers continues to expand with numerous extensions available. If your organisation is perceived as carrying a low-to-medium hazard, competition remains high.
If your organisation is perceived as carrying a high hazard exposure or you have recent claims activity, your trustee indemnity insurance broker should engage with you early to ensure sufficient planning to obtain a satisfactory renewal.
This guide is for information purposes and based on sources which we believe are reliable, the general risk management and insurance information is not intended to be taken as advice with respect to any individual circumstance and cannot be relied upon as such.