executor liability insurance
Professional Liability
Management Liability
& Specialty Insurance

Executor Liability Insurance

We offer executor liability insurance to executors of estate and administrators of the estate, also referred to as 'personal representatives' in some states. Executor liability insurance is a type of professional liability insurance which is designed to provide liability coverage to executors in connection with the acts, errors or omissions made in connection with the administration of a deceased person's estate.

Executors are in charge of settling a deceased person's estate by paying all debts and taxes and distributing what's left to the appropriate beneficiaries. If the deceased person had a will, then the will is filed with the probate court and the net assets are distributed accordingly. If no will exists, then the executor follows state law to determine how the estate is to be handled.

Being an executor brings a lot of responsibility and also brings considerable personal liability. Executors can be personally sued by anyone who believes that they somehow did not receive what they believe they should have received. If an executor is sued, he or she must pay for his or her own defense and may become personally liable to pay damages if found guilty of negligence. Executor liability insurance provides protection to the personal assets of executors and administrators of the estate. Premiums for the coverage are typically paid directly from the estate's assets.

Give us a call to discuss your executor liability insurance needs.