Trustee Indemnity

Insurance

Home Services For Employers Risk & Healthcare Group Risk Trustee Indemnity Insurance

Being a pension scheme Trustee carries the responsibility to protect scheme member’s benefits and the funds that support them.

Being a pension scheme Trustee carries the responsibility to protect scheme member’s benefits and the funds that support them.

It is inherent in the role of a Trustee, to take decisions on the overall investment of pension scheme monies and the payment of benefits when a scheme member retires or dies. This will include the distribution of funds not just to the member, but to their relatives as well.

With the best will in the world, not everyone will agree with every decision taken and Trustees have personal liability in their role, which can put their own assets at risk.

Indemnity Insurance offers the Trustees on a collective basis and individually, financial protection in the event they are sued due to mismanagement or contested decisions in their role as a Trustee.

Such insurance can provide cover for damages, judgments, expenses and defence costs as well as the costs of legal representation in light of a range of allegations, which may include:

 

  • Breach of trust
  • Breach of duty
  • Breach of statutory provision
  • Wrongful omissions
  • Maladministration
  • Negligence
  • Administration errors
  • Misstatements or misleading statements

Ensuring you have the correct indemnity insurance in terms of breath of cover provided and security of insurer is of vital importance. This is where Premier’s expertise in this field can assist, with access to all the indemnity insurers on a truly independent basis, we will source the best of bread solution to protect Trustees from the risks inherent in their role and duties to scheme members.

Want to learn more? Contact Allyson on the details below:

Allyson Gayle

Head of Risk & Healthcare

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