Trustee Liability

Offered by Balance Partners

Trustee Estate Trustee Liability Fiduciary Liability Professional Professional Liability Fiduciary

Description

Nomadx, in partnership with Balance Partners, provides professional liability insurance exclusively for trustees. The trust business is complex and having a knowledgeable underwriter who understands trusts is critical to ensuring you’re properly covered. We’ve created an insurance program specifically geared to protect trustees, and our application process makes obtaining coverage easy.

Coverages & Limits:

  • Limits of liability up to $5 million
  • Blanket coverage for trusts
  • Broad definition of trustee duties, including both fiduciary and non-fiduciary roles
  • No failure to effect or maintain insurance exclusion
  • Prior acts coverage available
  • 80/20 Hammer Clause
  • Coverage available for SPVs
  • Cyber liability
  • Employee theft available
  • General liability on claims-made basis

Target Classes:

  • Trusts with assets $5 million+
  • Independent and professional trustees
  • Co-trustees with institutional trustees
  • Agent for trustee

Excluded Classes:

  • Family member trustees unless co-trustee, appointed an agent for trustee, or serving in a directed trust capacity
  • CPA
  • Actuary
  • Broker/dealer services
  • Certified financial planner
  • Healthcare
  • Legal
  • Licensed insurance agent or broker
  • Securities or investment advisor

Details

Has Pen

Carrier Information

Lloyd's of London

Non-Admitted

Rating A+ XV

Rating By A.M. Best

Listing Contact

Judy Pearson Product Lead

Offered By

Balance Partners

8 listings in 50 states + DC

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Availability 50 states + DC

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming

Covered

Not Covered

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