Covers trustees against “wrongful acts” for which they may be sued. The policy provides for defence costs, settlements and damages, it will not cover dishonest acts, wilful acts or acts for personal gain. The Charity Commission regularly issues publications on the duties and responsibilities of a trustee and each individual charity will formulate a deed or document controlling the trust which will detail the duties of the trustee.
Who is covered? The senior officers and trustees of a charity or non profit making organisation
Who can bring an action? Government and regulatory bodies such as HM Revenue and Customs, Health and Safety Executive, Financial Services Authority, Environmental Agency, police and public prosecutors, employees (past and present), auditors, liquidators, customers, suppliers, competitors
When arranging cover for our clients, due consideration is given to exposures to:
contingency cover for the insured trustee when acting under for another non profit making organisation in the event that the other charity trustee indemnity either does not exist or does not respond in the event of a claim.
Castlemead Insurance Brokers have the knowledge, experience and market connections required to competitively place the required cover for your business.