Marsh McLennan Agency launches trustee crime insurance

Marsh McLennan Agency (MMA) has launched a Trustee Crime Insurance Solution for high-net-worth clients, offering coverage for theft committed by trustees.

Available exclusively through MMA, the product provides up to $10 million in coverage from an AM Best A++-rated insurer. The company says the offering addresses a gap left by traditional crime insurance policies, which typically cover theft by employees but not trustees.

The new product expands MMA’s trust insurance offerings for high-net-worth clients, which also include property and liability coverage.

“We work diligently to understand our clients’ unique wealth preservation goals and the risks associated with achieving them. In our ongoing conversations with clients, it became clear that they needed more safeguards in place for their complex trust structures, and we look forward to offering this solution as part of our efforts to ensure their legacies remain intact.” – Seth Spreadbury, National Family Office Executive Liability Leader at MMA.