In an increasingly litigious business environment, protection matters more than ever for fund directors and officers and their assets. This insurance product protects both the fund itself and the individual of the fund in the event they are indemnified.
Lockton's dedicated Financial Institutions team liaises with each client directly, offering and implementing comprehensive protection via our tailored, proprietary insurance wording that offers thorough coverage whilst maintaining cost-effectiveness. Nothing less will do.
Why Lockton?
- Client advocacy is in our DNA. It's why we have a 95% client retention rate
- Queries and changes in your risk are addressed promptly by our dedicated Financial Institutions team
- Ongoing personal support provided via your own Lockton Account Executive
- A pre-agreed Fund D&O insurance wording enables us to negotiate harder on your behalf, resulting in competitively priced long-term premiums and insurer relationships
- Ongoing advice, training and support, including a suite of online resources, is available to our clients
- A smooth online proposal form ensures easy and efficient renewal
Fund Directors and Officers Insurance FAQs
What cover does Fund D&O Insurance provide?
The Lockton D&O Liability Insurance for Funds policy provides financial protection to:
- Past, present or future directors or officers and other individuals with managerial or advisory functions
- In the event of their death, incapacity, insolvency or bankruptcy, the estate or legal representatives of any insured person
- Outside board directors
- Employees
This policy protects individuals from claims made against them in respect of acts committed (or alleged to have been committed) in their capacity as such and as a result of an error, omission or breach of duty.
Key instances of cover include:
- Where the fund suffers a loss and has no liability or refuses or is unable to indemnify
- Where the fund suffers a loss and agrees to indemnify
Fund D&O cover can be included within an Investment Management Insurance product if broader professional indemnity insurance and fund manager covers are also required.
Has the Lockton Investment Management Insurance wording been reviewed by any external parties?
Our Fund D&O wording is created by our dedicated asset management team with support and input from Simmons & Simmons, resulting in protection that is amongst the broadest and strongest available in the global insurance market.
Is coverage afforded for retired directors?
Yes. In the event the policy is not renewed or replaced with materially equivalent cover, an automatic additional reporting period of 72 months after expiry of the original policy term is available at no additional premium.