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Management and Professional Liability

Jamison’s Alternative Investment Insurance Management Group is staffed by professionals who intimately understand the unique business risks you face in managing your funds in today’s turbulent times. Our ability to clearly communicate and illustrate your risk exposures to the insurance marketplace is a critical factor in our success with delivering the appropriate risk management and insurance solutions you and your investors demand. Insuring Alternative Investment Managers and their Funds, is something we do with great care, and you can rest assured that we will deliver a properly and professionally designed program, through a comprehensive & strategic approach.

Jamison understands the importance of a well-designed management and professional liability insurance program, also referred to as directors and officers (D&O) or errors and omissions (E&O). The volatility in the market could generate greater risk for fund managers and organization errors that could lead to financial losses. When the market and the firm’s investments are performing badly your firm could notice opportunities for disgruntle investors to create litigation that could strain the firm’s resources to defend these claims. Therefore, properly insuring your fund will not only protect you and your managers from unforeseen liability, but it will also promote a healthy environment for investors as they make their investment decisions.

The scope insurance and risk transfer that Jamison can provide to hedge funds includes:

  • Management Liability/Directors and Officers Coverage
  • Professional Liability/ Errors and Omissions Coverage
  • Fund Liability Coverage (Hedge Funds/Fund of Fund, Venture Capital and Private Equity Funds)
  • Investment Advisor and Financial Services Professional Liability Coverage
  • Employment Practices Liability Coverage
  • Fiduciary Liability Coverage
  • Fidelity Crime Coverage (Form 14 Bond)
  • Cyber Liability Coverage designed for Alternative Investment Firms
  • Personal Wealth Management Programs

Historically, most claims and charges filed against alternative investment/ hedge funds and their directors and officers (D&O) are also lodged against the manager and other service providers. Claims against funds and their managers and advisers are often complicated and involve many parties.

Fund Liability Coverage for the Hedge Fund, Fund of Fund, Venture Capital and Private Equity Funds

Who is insured? What is insured?
  • The Fund
  • Directors/Officers
  • Board Members
  • Partners
  • General Partners
  • Employees
  • Trustees
  • Liability arising from the operation/management of the fund.
  • Wrongful acts in connection with the purchase/sale, or offer to purchase or sell investments for the fund.
  • Allegations that the insured fund violated local securities laws.
  • Liability arising out of any matter asserted against an insured solely by reason of their status as directors/officers, board members, partners, employees or trustees of the fund.

Investment Advisor & Financial Services Professional Liability Coverage

Who is insured? What is insured?
  • Fund managers and their qualified affiliated financial services providers.
  • Any wholly owned subsidiary.
  • Directors/officers, partners, members of the board, employees & trustees.
  • Liability arising out of professional services provided for your clients.
  • Wrongful acts committed by your firm or by those for whom your firm has legal responsibility while performing or failing to perform professional services.
  • Client allegations that your firm’s performance was inadequate and/or deviated from stated strategies .

Account Management Philosophy

Many of our clients are of sizes that do not employ a full-time professional risk manager. With these clients our relationships are maintained through the CFO, CEO, President and/or HR Manager. This type of client allows us to utilize our in-house certified risk managers to interact with our client’s senior management, and to employ our risk management philosophy in acting as an extension of your management group to better serve your insurance and risk management needs.

Account Management Philosophy Defined:

  • Focus on the client
    • Understand the business direction and objectives of our client
    • Understand the Risk Management Objectives of our client and support their business objectives
  • Integrate with client on Service Planning objectives
  • Tailor the Risk Management Program to meet/exceed client’s objectives and needs
  • Become an integral part of our clients objective accomplishments and planning process

To discuss with one of our professionals regarding your management and professional liability insurance for alternative investment funds, hedge fund and private equity contact the following.

Mark Ritchie
Vice President of Operations - Property & Casualty
973-669-2377
mritchie@jamisongroup.com

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