Protection in uncertain times
Investment Management and Fund Management is a complex beast. The pressure to perform from clients and the ever increasing regulatory requirements and compliance guidelines creates significant demands on the time and resources of investment managers.
Investment Managers Insurance (or IMI Insurance) has been developed to meet these complex requirements in an effective and efficient manner by combining Professional Indemnity, Directors & Officers Liability and Crime cover into one policy cover. Typical broad exposures of a Investment Managers covered under an Investment Managers Policy include:
- Violations of investment management contracts;
- Mismanagement or failure to supervise, for example where a Responsible Entity appoints a rogue portfolio manager;
- Non fraudulent misrepresentation, for example, failure to clearly specify tax implications of investments;
- Liabilities that arise under the Managed Investments Act, such as:
- the statutory responsibilities set out for the Responsible Entity under Section 601FC;
- the liability of the Responsible Entity for the acts and omissions of its external custodian or its auditors, and
- the responsibility of Directors to ensure that the terms of the insurance cover affected by the Responsible Entity are adequate.
Who can be covered?
- Equity / fixed interest / diversified fund managers
- Fund of funds managers
- Venture capital fund managers
- Asset allocation consultants
- Research houses
- Private equity fund managers
- Property / infrastructure fund managers
- Hedge fund managers
- Mortgage fund managers
- Agriculture fund managers.