Berkley Crime, a division of Berkley FinSecure, a W. R. Berkley company, has launched a new Investment Company Policy (ICP). The ICP is specifically designed to provide crime-related insurance coverage for registered management investment companies and mutual funds.
Coverage under the policy is designed to meet the federal requirements for the bonding of officers and employees of registered management investment companies and mutual funds under the rules and regulations of the Investment Company Act of 1940. The broad coverage afforded by the ICP includes some items not found in a Financial Institution Bond, Standard Form #No. 14, such as a per occurrence limit of insurance and a broad definition of “employee” specifically tailored for the asset management industry.
Standard coverage provided by the ICP also includes an automatic limit increase endorsement that helps ensure that protection keeps up with business growth. Additionally the ICP is issued in both Portable Data Format (PDF) and Microsoft Word format for ease of filing.
ICP coverage is available with substantial limits and can be written on a primary, excess or quota share basis through Berkley Crime’s network of independent insurance agents and brokers.
Berkley Crime, a division of Berkley FinSecure, is focused exclusively on providing crime related insurance products for commercial organizations, financial institutions and governmental entities as well as kidnap and ransom coverage for small to large companies and private individuals.
All products are underwritten on an admitted basis on behalf of W. R. Berkley Corp. member insurance companies
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