Trustfund Cover is a new insurance product available exclusively for the Legal Profession. This product is designed to provide cover for trust funds’ safekeeping against cell phone and or electronic hacking.
In the unfortunate event of people losing money through cell phone or electronic hacking, without any way to recover the money, this insurance product will protect you and your clients’ funds.
Why do you need to cover your trust funds against electronic or cell phone hacking?
- Your standard fidelity cover provided under your commercial insurance DOES NOT provide cover for cell phone or electronic hacking.
- Secure your clients’ hard earned money in your trust account under your safekeeping.
- Secure your firm’s reputation by insuring possible loss of clients’ funds.
- Secure your financial stability in the event of a possible loss which would need to be replenished by your funds.
What special cover is provided by this policy?
- Any hacking via any electronic medium into your trust account by a third party.
- Any hacking via any cell phone medium into your trust account by a third party.
- This product covers your SECTION 78 investment on behalf of your clients.
- Negligence on behalf of your in house bookkeeper / personnel.
- Third party means anyone who is not employed by your firm.
- Automatically re-instatement of cover following a claim under the policy.
What is excluded from this cover?
- Trust Funds stolen by any personnel and/or partner and/or director.
- Funds hacking from your business account.
- Funds hacking from your trust account by any personnel and/or partner and/or director.
- Any electronic program.
- Any electronic items.