18 May, 2007
Trustee Liability Insurance Seminar
Reigate and Banstead CVS hosted a seminar on 18th May 2007 for Charity Accountants. We were delighted to provide a speaker to discuss the practical issues surrounding the purchase of trustee indemnity insurance.
The seminar content can be downloaded: A practical guide to the purchase of trustee liability insurance.
The seminar outlined the following issues:
- Explanation of what Trustee Indemnity Insurance is and what it is not;
- Cover that it is unlawful for an insurer to provide;
- Definition of a wrongful act – inadvertent or ignorant neglect of trustee duties emanating from the governing documents;
- Claims examples;
- Purchasing issues;
- Limited corporate liability mistake;
- Purchase for benefit of trustees;
- Prohibition from purchasing;
- Considerations based on interests of charity;
- Costs and exercise of care and skill in the selection of cover;
- Additional covers: Entity, Fidelity Guarantee, Professional Indemnity, Representation at Investigations, Employment Practice Liability, Loss of Documents;
- What level of indemnity to select.
If you have any questions, please do not hesitate to contact our charity team on 020 8651 7420.
An on-line enquiry form is available here: Trustee liability quotation