Introducing The Appointee Security Bond


Mirroring the Court of Protection requirement for deputies, such as solicitors or family members, to purchase a security bond to protect the financial assets of the vulnerable person they support, The Money Carer Foundation has been working with Deputy Bond Services and Aviva for the last 2 years to introduce similar protection for clients under appointeeship.

Clear Best Practice For All Appointees

The Appointee Security Bond is administered by Deputy Bond Services and underwritten by Aviva and is a best practice purchase for all appointees whether they be family members or trusted friends or corporate appointees such as local authorities and care providers who take on the legal responsibilities of managing the finances of vulnerable adults.

The bond costs £35 per year and protects the vulnerable person under appointeeship for up to £16,000 in the event of theft or fraud by the appointee or by mistakes made by the appointee in respect of their welfare benefit management responsibilties.

For non-professional appointees (family members and friends) the bond will recompense the vulnerable person in respect of honest mistakes made by the appointee without seeking financial redress from the appointee. Corporate appointees however will be liable to repay Aviva in the same circumstances.

How Are Appointee Bond Claims Made?

Local authority safeguarding teams can inform Deputy Bond Services to enable them to start the claim process for the vulnerable person that has suffered financial loss. The appointee bond will aim to compensate the vulnerable person within 7 working days.

Where Do I Buy The Bond?

The Appointee Bond will shortly be available to purchase online however in the meantime please purchase the bond by downloading and completing the documents below:

 

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