The Appointee Security Bond was introduced by Security Bonds Ltd and Aviva Insurance by working with The Money Carer Foundation in 2015.

Purchasing a security bond represents best practice for any organisation or person looking to become an appointee, as it follows the requirement by the Court of Protection for court-appointed deputies to take out a surety 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 up to £16,000 in the event of theft or fraud by the appointee.

For non-professional appointees (such as family members or friends) the bond will recompense the vulnerable person in respect of honest mistakes made by the appointee without seeking financial redress from the appointee.

Local authority safeguarding teams, or other responsible parties, can inform Deputy Bond Services of a concern 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.

Purchasing a security bond represents best practice for any organisation or person looking to become an appointee as it follows the requirement by the Court of Protection for court-appointed deputies to take out a security bond to protect the property and finances of the vulnerable person under their charge in most cases.

View this video in the Money Carer YouTube channel