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ABOUT THIS COVERAGE

Asset management is increasingly becoming more complex, with potential exposures that can have a devastating effect on your company’s bottom line. With this modular insurance policy comprised of six available coverages, Westchester offers coverage flexibility where it’s needed most.

Coverage:

Coverage features include:

  • Allegations by clients for breaches of investment guidelines
  • Prospectus liability lawsuits against mutual fund directors, advisers, and service providers
  • Formal regulatory investigations into alleged trading violations
  • Allegations of failure to disclose risks or conflicts of interest
  • Fee-based lawsuits
  • Lawsuits for failure to perform due diligence in the selection and oversight of sub-advisers or outside funds
  • Alleged performance misrepresentations
  • Alleged improper valuation of fund assets
  • Allegations by pension fund clients of ERISA violations
  • Employment practices liability and fiduciary liability exposures, including employee discrimination, sexual harassment, and breach of fiduciary duty in managing their employee benefit plans

BENEFITS

  • Designed to address the full range of asset management industry organizational models, products, and services
  • Customizable to each firm’s individual business model and insurance needs, and easily adaptable to the firm’s organizational changes
  • Provides ability to select a combination of coverage parts and elect a different retention or sublimit appropriate to each coverage part

TARGET CLIENTS

Full array of asset management firms and investment funds, including:

  • Investment advisers and consultants
  • Wealth management firms
  • Mutual funds, exchange traded funds, and closed-end funds
  • Hedge funds
  • Funds of funds
  • Real estate investment trusts (REITs)
  • Private real estate funds

ABOUT WESTCHESTER

Westchester is one of the largest and most diverse excess and surplus lines commercial property and casualty insurance underwriters in the United States. Focused on the wholesale distribution channel, Westchester provides innovative specialty products for property, specialty casualty, environmental, professional risk, inland marine, product recall, small business, binding and programs. The business is further distinguished by exceptional financial strength, underwriting excellence and superior claims handling expertise. The material on this page contains product summaries intended for use solely by properly licensed insurance professionals. The insurance policy actually issued contains the terms and conditions of the contract. All products may not be available in all states and surplus lines products can be offered only through licensed surplus lines producers. Insurance provided by Westchester Fire Insurance Company and its U.S. based Chubb underwriting company affiliates. Chubb is the marketing name used to refer to subsidiaries of Chubb Limited providing insurance and related services. For a list of these subsidiaries, please visit our website at www.chubb.com. Westchester is a division of Chubb, the world’s largest publicly traded property and casualty insurer. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 30,000 people worldwide. Additional information can be found at: www.chubb.com

 

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