Trustee Indemnity Insurance definition

Trustee Indemnity Insurance means insurance against personal liability incurred by any Board Member for an act or omission which is or is alleged to be a breach of trust or breach of duty, unless the act or omission amounts to a criminal offence or the Board Member knew that, or was reckless whether, the act or omission was a breach of trust or breach of duty.

Examples of Trustee Indemnity Insurance in a sentence

Proper expenses shall include the purchase and maintenance of valid Trustee Indemnity Insurance.