Hiscox, the international specialist insurer, has launched its Private Investment Fund Portfolio product to provide protection for many types of asset management firms. The portfolio provides coverage for lawsuits alleging breach of fiduciary duty, fraud, insider trading, securities law violations, conflicts of interest and other common risks faced in this industry.
The complex U.S. regulatory environment, heightened with the passage of Dodd-Frank, is increasingly exposing these firms to litigation from investors, portfolio companies, minority shareholders of portfolio companies, regulatory agencies, employees and a number of other third parties.
Hiscox offers alternative asset management firms a portfolio of coverages specifically designed to protect them from both long standing and newly emerging exposures. Policies provide coverage up to a maximum line of $5 million, primary or excess, and come with a complimentary risk management service. In addition to the standard management liability, professional liability and outside position liability coverages, clients can choose to add on any combination of employment practices liability, fiduciary liability and employed lawyer’s coverage under a single “portfolio” policy.
Hiscox’s portfolio of insurance products includes: executive risks, media & entertainment, professional liability and property coverages. The companyhas offices in New York; Atlanta; Chicago; Los Angeles; San Francisco, CA and White Plains, N.Y.
Hiscox Inc., a Delaware corporation headquartered in New York, d/b/a Hiscox Insurance Agency in Calif., is a licensed insurance intermediary for admitted and surplus lines business. Hiscox Inc. underwrites on behalf of, and places business with, Hiscox Insurance Co., Inc., other domestic insurers, and syndicates at Lloyd’s. Hiscox Insurance Co. Inc. is a Chicago, IL domiciled insurer which is admitted or licensed to do business in all 50 states and the District of Columbia.
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