Trustee Liability Insurance

We offer trustee liability insurance to trustees, guardians of the estate (including conservators), and receivers. Trustee liability insurance is a type of errors and omissions (E&O) insurance, also known as professional liability insurance.

A trustee legally holds assets for the benefit of another person, the beneficiary. Trustees purchase liability 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.

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.

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.

We have access to various insurance companies and can provide liability coverage for all types of trusts, including the following:

Revocable living trusts
Irrevocable trusts
Charitable trusts
Testamentary trusts
Liquidating trusts
Receivership trusts
Guardianships
Conservatorships

As the personal assets of trustees may be at risk, it is vital for trustees to consider obtaining trustee liability insurance. We can offer trustees policy limits up to $25 million. We can also offer directors and officers (D&O) liability insurance and any type of bond that may be required.