Why is it important that an individual has cover after they have ceased to be a trustee, director or officer?
Should an individual cease to be a trustee, director or officer, any liabilities that he or she may have incurred during his tenure do not go away – they stay with him or her. Should any incident subsequently escalate into a claim, the trustee, director or officer or their estate may still be liable and may have to pay costs and damages out of their own funds. CaSE The Trustees Indemnity Insurance is specifically designed to automatically protect a trustee, director or officer (at no additional cost) for 6 years after death, retirement, voluntary departure or redundancy.
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