Trustee Liability Insurance Program from Preferred Concepts LLC
Mercator Risk Services, a division of Preferred Concepts LLC, offers specialized trustee liability insurance for a wide range of trusts, trustees, and family offices. This hard-to-find coverage is essential for protecting individuals and entities that manage trusts, particularly when those trusts include complex or illiquid assets such as real estate or family-owned businesses.
This niche liability insurance is not widely available in the market, making it a valuable opportunity for retail agents and brokers who work with high-net-worth individuals, estate attorneys, or financial advisors. Whether your client is a corporate trustee, individual trustee, or part of a family office, Mercator can help provide tailored coverage solutions to protect against legal and financial exposures.
Ideal Accounts and Appetite
This program is well-suited for:
- Individual trustees managing family trusts or estates
- Corporate trustees or co-trustees
- Family offices overseeing multi-generational wealth
- Trusts with complex asset structures, including illiquid assets
- Accounts involving estate planning professionals or fiduciaries
Family trusts often involve long-term commitments, unique asset mixes, and varying beneficiary needs. These complexities create potential exposures for trustees that standard liability policies may not cover. Mercator’s program is designed to address those gaps.
Coverage Highlights and Advantages
Trustee liability insurance from Mercator Risk Services can include:
- Defense costs and indemnity for claims related to trustee duties
- Coverage for mismanagement or breach of fiduciary duty
- Options for family office liability, D&O for operating companies, fiduciary liability, EPLI, and investment advisor professional liability
- Solutions for hard-to-place and financially distressed accounts
Each trust situation is unique, and Mercator can customize coverage to fit your client’s specific circumstances and risk profile.
Underwriting Notes
Mercator is flexible when it comes to applications. They can work with most standard applications (excluding renewals) or provide a specialized form specific to the trustee risk. Submissions for distressed or unusual accounts—such as those with prior claims or financial impairment—are welcome and will be reviewed on a case-by-case basis.
Territories and Availability
This program is available nationwide, including all 50 states and Washington, D.C. The coverage is written on a non-admitted basis through various carriers, offering flexibility across diverse jurisdictions and unique trust structures.
Why Work With Preferred Concepts LLC
Mercator Risk Services brings deep expertise in professional liability and specialty lines, with a strong focus on hard-to-place and nuanced risks. Their experience with trustees, family offices, and trust-related liabilities means you get knowledgeable underwriting support and access to markets that understand the exposures involved.
If you have a client who is serving as a trustee for a family trust that holds real estate and shares in a closely held business, or a family office managing complex assets across generations, this program is built to help you protect them. Reach out to Mercator Risk Services for custom solutions, fast support, and expert guidance.
For more information, please call (860) 527-9717 or send an e-mail to [email protected]. You can also visit their website at www.mercatorpro.com for applications and more details.