A bank's fiduciary liability endorsement that can be added to the general
liability policy. The fiduciary liability endorsement provides general
liability protection for the financial institution, its executive officers or
employees, trust beneficiaries, and others as delineated in the endorsement for
bodily injury (BI) or property damage (PD) liability arising out of the
ownership, maintenance, or use of property in any trust for which the named
insured is acting in a fiduciary or representative capacity. Trust accounts may
possess property from which liability exposures arise, and the financial
institution has a liability exposure arising from this property due to its
control of the property. The endorsement extends the financial
institution's general liability policy to provide coverage for these
liability exposures. Certain policy provisions and exclusions are altered
slightly in order to remain applicable to the insured trust.