This covers damages and legal expenses arising from a ‘wrongful act’ committed by a trustee or officer of a church or charity, such as breach of duty or breach of trust, breach of contract or breach of warranty.
Arranging this cover gives peace of mind to trustees who can be personally liable for such losses.
Various Limits of Indemnity are available usually starting at £100,000.
Cover is also provided for Loss of Documents with a lower limit of indemnity, and for losses due to dishonest acts of trustees or officers (Fidelity Guarantee cover).
This cover is available as an extension to Church or Charity policies and can be purchased as a separate Financial Indemnity policy.