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Pension Trustee Indemnity provides cover for trustees of pension funds in the event of a claim made against them for failing to carry out their responsibilities to perform in the best interests of the fund, whether as a result of a wrongful action or inaction.
All pension fund trustees should have this insurance in place, given the liabilities they face and the potentially huge claims that may arise.
Acts that are covered under a Pension Trustee Indemnity policy include negligence, breach of duty or administrative errors by any of the trustees of a fund.
Pension Trustee Indemnity provides peace of mind in knowing that acts by any one trustee of a fund will not result in financial losses for the other trustees.