Misappropriation of Trust Fund Insurance

MOTF Insurance Claims Explained

What is MOTF? The abbreviation stands for Misappropriation Of Trust Funds. Who needs this cover? Attorneys who receive a client’s money into their trust account for a legal matter. All legal practitioners are obliged to operate a trust account.  In fact they must operate two separate accounts- one trust and one business. Monies held in…

Advantages of Using a Brokerage with a National Footprint

In the highly competitive insurance brokerage industry, service delivery is of utmost importance. At Shackleton Risk Management (“SRM”) we are able to provide our services nationally across South Africa. With offices in Johannesburg, Pretoria, Durban, Cape Town, Port Elizabeth, Bloemfontein and Nelspruit and representation in Grahamstown, Kimberley and Mmabatho, we are able to be the…

Why Shackleton Top-Up Indemnity Insurance for Professionals?

WHY SHACKLETON TOP-UP INDEMNITY INSURANCE FOR PROFESSIONALS? The limit of professional indemnity cover for negligent acts, errors or omissions committed by legal practitioners offered by the AIIF is limited in its amount annual and scope. The limit is determined by the number of directors of the firm meaning the smallest amount of cover is offered…

The importance of misappropriation of Trust Fund and Professional Indemnity Insurance for attorneys in South Africa

There has been an increasing prevalence of misappropriation (theft) of funds from attorneys’ trust accounts in these difficult economic times. Stories of attorneys who cannot account for trust funds abound; and the Law Societies are inundated with complaints.  This highlights the importance of Misappropriation of Trust Fund coverand Professional Indemnity Insurance for attorneys. Many attorneys erroneously believe that…