What Is an Appointeeship Security Bond?

The Appointee Security Bond has been introduced by Security Bonds Ltd and Aviva Insurance in partnership with The Money Carer Foundation.

Purchasing a security bond represents clear best practice for any organisation or person looking to become an appontees as it mirrors the requiremnet by the Court of Protection for court apponted deputies to take out a security bond to protect the property and finances of the vulnerable person under their charge.

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 legal 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?

An online portal to purchase the Apponteeship Bond will be available in November 2018. Until then, please send your enquiry to Security Bonds Limited.

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