Trustees Liability Insurance

What is Trustees Liability Insurance?

The law imposes on trustees a number of duties that they must carry out using the care, skill and diligence that a prudent person of business would exercise in managing the affairs of others.

Failure by trustees to discharge these obligations to the required standard, or at all, can result in the trustees being held personally liable.

In addition, in certain circumstances, liability can be incurred for the activities of fellow trustees.  While the trust may provide an indemnity to the trustees for claims made against them, the cost to the trust of meeting this obligation can in turn provide an undesirable burden on the trust’s assets.

Who is covered under the Trustees Liability Insurance?

A Trustees’ policy will address the concerns and liabilities of both the trustee, and the trust when indemnifying the trustee.

Trustees’ Liability insurance can provide cover for:

  • Individual trustees and corporate trustees (if declared)
  • Judgements and settlements
  • Fidelity cover to protect trust assets against theft or fraud by a trustee
  • Defence costs
  • Costs to appear at inquiries or investigations

What’s not covered

What’s optional

Goldstar claim process

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How to make a claim

We have a number of options to help you make a 
claim quickly and effectively. Contact our dedicated claims team for advice on
an incident/claim.
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Why choose us ?

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Company in Uganda (2015) and has over
 the years consistently maintained a Global A+ Credit Rating
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FAQ's

How do I cover items that I take away from the home?
What is accidental damage cover?
Are items in my garage or shed covered?
I live in rental accommodation. Do I still need insurance?
What is an excess?

Tips

  • Ensure you declare a list of items to be insured under contents insurance including serial numbers, model, make and have the correct sum insured
  • Always keep valuables safely and locked out of site to protect against the risk of theft