Trustee indemnity insurance s a type of insurance that protects trustees from financial losses

Trustee indemnity insurance, or Trustee Indemnity, is a type of insurance that protects trustees from financial losses that they may incur due to negligence or errors in carrying out their duties. This type of insurance can protect the trustee from a variety of losses, including: 1. Financial losses caused by the trustee’s negligence or error. This can include things like loss of trust assets, poor investments, or failure to comply with legal requirements. resulting from breach of duty: This includes losses incurred as a result of trustees breaching their legal duties to beneficiaries. For example, if trustees use trust assets for their personal gain, they may be liable for any resulting losses. 3. Legal costs: This includes legal costs incurred by the trustee to defend themselves against legal claims related to their actions as trustee. Trustee’s indemnity insurance can be a stand-alone insurance policy or can be part of a more comprehensive insurance policy, such as profes