Directors and Officers (D&O) and Professional Liability insurance, also known as Errors and Omissions Liability (E&O), is a specialized product for Asset Managers. Unlike traditional D&O and E&O programs, where coverage is purchased separately, Asset Management Liability programs combine both the D&O and E&O coverages in the base policy structure. Many claims made against Asset Managers involve both the D&O and E&O coverage parts, so combining the coverages eliminates potential gaps in coverage due to different policy forms as well as “finger pointing” between different insurance companies arguing “who will pay for what” at claim time. Other coverages such as Employment Practices Liability and Fiduciary Liability can be added to Asset Management liability policies.
DIRECTORS & OFFICERS LIABILITY (D&O)
PROFESSIONAL LIABILITY (E&O)
GENERAL PARTNER LIABILITY (GPL)
Claims brought by limited partners (outside unaffiliated investors) against the general partner of the private partnership for breach of fiduciary duty. Just as no two asset management firms are the same, no two policy forms are alike. The terms and conditions of policy forms can differ greatly, as can the appetite among the specialty insurance companies that underwrite this coverage. SKCG Group can structure a comprehensive portfolio of tailored insurance coverages for the traditional and alternative asset management industry. SKCG has broad experience insuring Hedge Fund Managers, Private Equity Firms and Investment Advisers.
Typical underwriting information needed for an accurate premium quotation may consist of the following: