Everest Specialty Offers Investment Management Liability

December 13, 2010

Everest Specialty Underwriters, LLC (ESU) has introduced a new primary investment management policy.

This product addresses the professional liability exposure and the directors and officers (D&O) liability exposure facing asset management firms, including investment advisors, wealth management firms, mutual funds, hedge funds, fund of funds, real estate investment trusts, private real estate funds and private equity partnerships.

Designed by ESU’s Financial Institutions Group, this product is the second in a series of new ESU product introductions.

The Investment Management Professional and Management Liability Policy includes a broad definition of investment services including a comprehensive definition of claims. Coverages include:

  • Investment Advisor Professional Liability
  • Fund Professional Services and Management Liability (Mutual Fund and Private Fund Coverage)
  • Investment Advisor Management Liability

In addition, the following coverages may be added by endorsement or on a separate policy:

  • Employment Practices Liability
  • Fiduciary Liability
  • Distributor Coverage
  • Cost of Corrections Coverage
  • Financial Institutions Bonds (on a separate policy)

Source: Everest RE

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