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12 Nov Lawyer And Trustee? Your Professional Liability Insurance May Not Be Enough
Professional Liability Insurance for Lawyers and Trustees
As a lawyer, you wear many hats, one of which may be a trustee for clients. As a fiduciary, you’re charged with managing the trust property in a responsible and productive manner, with an obligation to act solely for the benefit of the beneficiaries. But while you’re looking after clients’ trusts, who is looking out for you?
What if you’re accused of mismanaging the trust? You have professional liability insurance (aka professional indemnity insurance) in place, so you assume you’re covered. Professional liability insurance was designed specifically for professionals who provide or advice to their clients — similar to Errors & Omissions (E&O), as it protects against claims for damages to third parties that come about as a result of an act, omission or breach of professional duty.
But consider this: chances are, your professional liability insurance doesn’t cover your personal liability as a trustee. How, then, do you protect yourself while you’re protecting your clients’ trusts? Professional liability insurance for lawyers and trustees from XINSURANCE.
XINSURANCE is a DBA of Evolution Insurance Brokers, an insurance brokerage. XINSURANCE provides customized specialty insurance for ever-changing risks and liability issues, including property and casualty insurance — and coverage for attorneys serving as trustees.
With over 30 years of underwriting experience, XINSURANCE understands the unique liability risks legal professionals face. Our experts can provide you with a wide range of solutions to manage and stay ahead of any risks that could affect your business. If you do need to make a claim, we’re your trusted partner, providing you with a legal defense and covering any damages awarded up to your policy limit.
Don’t delay, contact XINSURANCE today — because your professional liability insurance simply may not be enough. Contact us.