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Independent Trustee Liability Insurance

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How We Help

Often a family member or close friend is selected instead of, or in addition to, a corporate trustee. The liability of the corporate trustee will not fully indemnify the independent trustee who should have their own layer of liability protection.

Allegations made against a trustee could include:

  • Improper accounting,
  • Failure to exercise reasonable skill, care and judgment in management of trust assets,
  • Self-dealing and deliberately causing financial harm to beneficiaries,
  • Negligent handling of asset sales,
  • Errors.
  • Conflict of interest, and
  • Failure to obtain most advantageous tax savings

Most trustee errors and omissions coverage will be available on a claims made basis.

Limits of up to $10 million or more may be available depending on the carrier and the trustee’s individual needs.