A trustee’s role can be onerous with very little thanks in return. Thankfully the prosecution of trustees who have acted in good faith is a rare event and the Law generally seeks to protect them in such circumstances provided they have complied with their duties. These duties are more onerous where a pension scheme is to be wound up where there may be missing beneficiaries or other contingent liabilities where there are no assets. A trustee may also be fined personally as can corporate trustees to a greater degree.
A Trustee Liability policy now forms an increasingly important role in protecting trustees and pension scheme assets as it provides an external form of protection against claims on the sponsoring employer, pension managers and internal administrators. We can provide this essential protection from a number of insurers and once we have assessed your requirements we will provide you with competitive terms to consider.