What it does
CG 24 11 applies the insurance to injury, damage and medical payments arising out of the ownership, maintenance or use, including related operations, of property in any trust, guardianship or estate for which the named insured acts in a fiduciary or representative capacity. It adds co-fiduciaries and other parties listed in the form as insureds to the extent stated.
Who needs it
Corporate trustees and professional fiduciaries holding real estate or businesses in trust.
Quoting and selling notes
- Companion to CG 22 38 (financial institution fiduciary exclusion) and CG 24 05.
- Ask how many trusts and estates hold real estate or operating businesses, and whether each trust has its own liability policy naming the fiduciary.
