Trustees of Superannuation Funds have a number of areas of exposure. These exposures have been increasing due to the increasing complexity of Superannuation Funds, namely as a result of:

• Diversity of Service offering e.g. administration, investments, insurance, financial planning, etc.

• Changes to Superannuation Legislation e.g. choice of fund, nomination of beneficiaries, surcharge tax, etc.

There is no scope for errors when it comes to managing and administering a Superannuation Fund. Any actual or alleged breach of duty could result in financially devastating legal action, which could threaten the personal assets of the Trustees.

Trustee Liability Insurance provides cover for the Trustees and/or the Trust/Employer against claims arising during the period of insurance as a result of a Wrongful Act. Coverage may also extend to claims arising during the period of insurance from a breach of Superannuation legislation.