Trustee Indemnity Insurance
Trustee indemnity insurance (TII) is defined as insurance that covers trustees from having to personally pay legal claims that are made against them (by their charity or by a third party), for a breach of trust, or a breach of duty or negligence committed by them in their capacity as trustees.
Claims can arise from a number of situations such as errors of judgement, financial irregularities, libellous comments that gives rise to a claim, investigation or legal proceedings.
TII is one of the few insurances that will protect an individual as a trustee rather than the charity itself – and charity will need a proper legal authority before buying the insurance from its funds.
Why Trustee Indemnity Insurance?
- TII can help an organisation attract and retain trustees
- TII can protect a trustee’s assets in the event of a successful claim being made against the trustee – who may otherwise have to pay the costs of a defence or judgement from their personal wealth and assets
If you would like more information or a trustee indemnity insurance quotation then please don’t hesitate to get in touch.