Mutual Fund and Investment Advisor Coverages

Coverage parts are available that use the General Terms and Conditions of the Management Protection Insurance Policy. This policy includes Directors and Officers Liability for Investment Advisors and/or Mutual Funds; Fiduciary Liability; Employment Practices Liability; Professional Liability coverage for Investment Advisors, Mutual Funds and Financial Service Providers (i.e. Distributors); and Investment Company Fidelity.

According to the company, these newly released coverage parts can be written for investment advisors with at least $50,000,000 in funds under management and most SEC registered mutual funds with net asset values greater than $100,000,000. Also stated was that these coverage parts are drafted to provide the broad levels of protection needed by today's adviser and mutual fund, including coverage for vicarious liability and punitive and exemplary damages.

These coverages allow insureds to purchase a stand-alone policy for each coverage part or to include all of the coverage parts under one policy. Limits of liability can be provided either as a single aggregate for all coverage parts or separate limits of liability for each coverage part. The limit of liability available for any individual coverage part is $25,000,000 and coverage will be initially offered on a non-admitted basis.

ACE USA, Six Concourse Parkway, Suite 2500, Atlanta, GA 30328 Phone: (770) 393-9955 Fax: (770) 393-0888