Investment Management Insurance
Platinum Commercial and General Insurance is able to arrange, place and manage all your Investment Management insurance requirements.
Investment Management Insurance is a flexible, cost efficient insurance program designed to address the specific management liability, professional liability and crime exposures faced by Investment Managers. It provides umbrella protection for those financial liabilities which traditional Professional Indemnity (PI) or Directors and Officers (D&O) insurance policies will not provide – unless significantly amended.
An Investment Management Insurance policy is specially tailored to respond to those claims frequently encountered by investment managers, responsible entities, investment trusts or funds and their professionals as well as directors and officers of each of these entities. The structure and inter-relationship between investment management companies and investment funds creates a myriad of potential exposures. Investment mangers are likely to owe duties, as both company officers and as professionals, to shareholders, investors, employees and third parties. One mistake may lead to claims from any or all of these parties.
Investment Management Insurance policies typically provides coverage for:
- Responsible entities
- Investment managers
- Investment advisors
- Fund managers
- Venture capitalists
- Private equity firms
Investment Management Insurance Cover highlights include:
Professional liability insurance for investment advisors/managers and funds when providing investment advisory services. Crime cover provides protection to the Investment Manager and the Funds for loss following theft by Employees or any other person.
Professional Indemnity and Directors and Officer Liability/Company Reimbursement Insurance is included to protect both professional indemnity claims and management liability claims against investment advisors/managers and Funds, including their senior managers, directors and Compliance Committee members.
Key Features of an Investment Management Insurance policy typically include:
- Representation at Investigations and Examinations even in the absence of a specified Wrongful Act
- Automatic cover for new Funds and Subsidiaries
- Directors and officers who have board seats on Outside Entities can be covered
- Defence Costs for OH&S and Pollution Claims
- Administrators and Executors
- A “top-up” protected limit for non-executive directors
- Kidnap, Hijacking and Wrongful Detention
- court attendance costs when appearing as a witness to a Claim
- Extended discovery period for Retired Insured Persons
- Bail Bond and Civil Bond Expenses, Prosecution Costs
- Public Relations Expenses for Crisis Containment
- Counselling and tax advice costs in connection with a Claim for extradition
- Loss includes pecuniary penalties, Public Relations Expenses in connection with extradition or mitigation of adverse effects on reputation following exoneration
- Loss Establishment Costs to investigate, prove and report a Direct Financial Loss under the policy.