Chartis Expands Passport Capabilities for Financial Institutions

December 9, 2010

Chartis has expanded its Passport service platform to include three additional products from its Executive Liability Division that are specifically designed for financial institutions: Investment Management Insurance, Private Equity Professional Edge and Bankers Professional Liability Insurance.

Passport allows multinational firms to seamlessly address international exposures through the issuance of locally-compliant policies in foreign jurisdictions through Chartis insurers’ offices worldwide.

With these latest additions to the Passport global service platform, the Chartis insurers are offering investment management firms, private equity and venture capital firms, and banks streamlined access to both management and professional liability insurance aligned with local laws, regulations and business practices worldwide. Policies are issued in the foreign jurisdictions where the insured operates through Chartis’ extensive global network. Along with indigenous coverage, policyholders are also provided with secure access to Chartis’ locally based claims and litigation management resources around the world.

“Today, many investment management, private equity and venture capital firms raise funds and invest capital worldwide, exposing their organization and executives to unique risks in multiple foreign jurisdictions,” said Brian Benjamin, President of Executive Liability’s Financial Institutions Division.

These additional products enhance the existing Passport service available for financial institutions seeking local policies for their foreign directors and officers, employment, fiduciary and fidelity exposures around the globe.

Source: Chartis

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