Misappropriation of Trust Funds Insurance Cover for theft by directors or employees

Misappropriation of trust funds is another area where law firms operating in South Africa may have an exposure and thus run the risk of loss. As the name suggests, this cover protects the firm from theft/misappropriation of Trust fund monies by directors/partners or employees of a legal practice from their trust accounts. Shackleton Risk Management has structured this line of cover as a combined Professional Indemnity (PI), Fidelity Guarantee (FG) and Misappropriation of Trust Fund Insurance policy, and as a result of this, are in a position to offer rates that will justify your capital outlay.

This Misappropriation insurance product can be taken out individually, or in combination with the Professional Indemnity( PI) and Fidelity Guarantee (FG) Insurances, however SRM recommend that you seriously consider taking out all of the products mentioned above. Please ask your broker to discuss the benefits of this combined policy with you.

Should you be interested in Misappropriation of Trust Funds cover, please do not hesitate to contact your local broker, and we would be happy to set up a meeting in order to provide you with a competitive quotation at a time that is convenient for you. If you are at a loss for whom to contact, please contact Michael Damant on 011-784 5373 or e-mail him.