Errors and Omissions Insurance (E&O) for Trustees and Fiduciaries
We offer errors and omissions (E&O) insurance, also known as professional liability insurance, to trustees, guardians of the estate (including conservators), and receivers. This type of insurance is often called trustee liability insurance.
We also offer fiduciary liability insurance to managers and administrators of various types of employee benefit plans.
Trustee Liability Insurance (Trusts, Receiverships, Guardianships, Conservatorships)
A trustee legally holds assets for the benefit of another person, the beneficiary. Trustees purchase E&O insurance to protect themselves as the manager or administrator of a trust against claims brought by beneficiaries, creditors, and others. Also included in this class of insurance are guardians of the estate, including conservators, and receivers.
Trustees have a duty to act in good faith and to invest the assets prudently. Trustees are often responsible for decisions regarding the investment of assets and for the accounting, filing of tax returns, compliance with trust terms, and compliance with laws.
A receiver is the person appointed to protect and manage a business or entity. A common situation for a receivership is in connection with the bankruptcy of a business.
Guardians of the estate (including conservators) are appointed by the court to manage the assets of a person of unsound mind, such as an incapacitated adult or a minor child.
We have access to various insurance companies and can provide E&O coverage for all types of trusts, including the following:
Revocable living trusts
As the personal assets of trustees may be at risk, it is vital for trustees to have the proper E&O insurance protection. We can offer trustees policy limits
up to $25 million. We can also offer trustees insurance coverage for directors and officers (D&O) liability insurance and any type of surety bond that may be required.
Fiduciary Liability Insurance
Fiduciary liability insurance is designed to protect the managers and administrators of employee benefit plans, including:
Pension plans including 401K
Profit sharing plans
Other employee benefit plans
Fiduciary liability insurance is often combined with employee benefit liability insurance to provide comprehensive coverage to plan managers and administrators. We can also offer fiduciaries insurance coverage for directors and officers (D&O) liability insurance and any type of surety bond that may be required, including ERISA bonds.
Call us at 1-877-245-5887 if you have any questions or wish to discuss your insurance needs.
We're looking forward to earning your business.
Providing professional liability insurance and errors and omissions (E&O) insurance to the following professionals: Trustees, Fiduciaries, Guardians of the Estate,
Conservators, Receivers, Conservatorships, Receiverships, Guardianships.