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Investment Manager Professional Indemnity
Chubb Specialty Insurance

The explosive growth over the last decade in the funds management industry is well chronicled in the media. A dramatic expansion in funds under management has occurred in both retirement savings and discretionary investment funds.

The investment industry, in response to the demands of increasingly more sophisticated clients and an uncertainty economy, is facing unprecedented challenges. As investors look for higher returns and greater portfolio diversification, the industry is continuing to experience unprecedented growth. In order to remain competitive the industry is developing more innovative products. In addition to market demands, additional pressures are created by changing regulations. Now, more than ever, investment managers are in need of specialised insurance cover.

The complex nature of the funds management industry demands equally sophisticated insurance solutions. Investment managers require insight and understanding as well as broad, flexible and innovative products.  Chubb provides those solutions.

 

Who is covered?

  • The Investment Manager/company
  • Past, present and certain newly created or acquired subsidiaries
  • All directors, officers and employees (past, present and future)

 

What is covered?

  • Errors, omissions, misstatements, misleading statements, neglect, breach of trust or breach of duty by the Insured whilst performing or failing to perform professional services for clients.

 

What are the cover features?

  • Covers civil, criminal, investigative and regulatory proceedings and written demands against the Insured
  • Covers claims brought by or on behalf of customers
  • Cover available for wrongful acts committed by the Insured or by any parties for whom the Insured has vicarious liability
  • Extended reporting period
  • Severability of all exclusions for insured individuals
  • Severability of the proposal form
  • Automatic cover of certain newly created or acquired subsidiaries
  • No prior acts exclusion
  • No retroactive date
  • Automatic "run off" cover for divested subsidiaries
  • Automatic "run off" cover for Insured, if acquired
  • Multi-year policies available
  • Advancement of Defence costs prior to final disposition of a claim
  • World-wide cover