Finance News: Specialist broker in trustee negligence cover package deal

A charity-specialist broker has launched a household insurance policy that also offers protection to trustees.

The charity trustee cover, developed by MCIS, gives individual trustees protection against risks such as breach of trust or negligence incurred in trustee activities.

Trustees are personally liable for mistakes made by their charity, although last year the Charity Commission did make it easier for charities to buy personal indemnity insurance for trustees.

The MCIS cover is personal and applies if the person is a trustee of one or more charities.

Michael Williams, account manager of the private client division of MCIS, said: "This is a significant development in our commitment to the voluntary sector. It represents a unique opportunity to recognise some of the additional risks that trustees are exposed to and provide a cost effective response for further peace of mind."

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