23Power to insure

23 Power to insure (1) A trustee may insure against loss or damage, whether by fire or otherwise, any insurable property, and against any risk or liability against which it would be prudent for a person to insure if he were acting for himself. (2) The insurance may be for any amount: Provided that together with the amount of any insurance already on foot the total shall not exceed the insurable value or liability. (3) The premiums may be paid by the trustees out of any moneys subject to the trust but in the accounts of the trustee shall be charged first against the income of the property concerned and secondly against the income of any other property subject to the same trusts, to the extent of the income available without obtaining the consent of any person who may be entitled wholly or partly to the income. No. 5770 s. 24.