ISAM/ IMI

Description

The Insurance Solution for Asset Managers, also known as Investment Manager’s Insurance (IMI), protects asset managers, financial advisors or service providers in the financial sector against claims for damages and against enrichment-related intentional damages deliberately committed by employees.

This blended (D&O/PI/Crime and others) policy is particularly suitable for non-banking types of financial institutions, where the shareholders are often involved into the company’s management and day to day operations. Thank to the broad “cross-over” coverage provided by just one insurer, complex claims involving various allegations are easier to handle and have less exclusions.

Covered are investment managers, investment advisors and fund managers, here the management liability (applying to individuals serving as directors or officers) as well as employees, but also the professional liability of the respective entity for claims brought against them by the investors. Also part of the coverage can be the liability of the compay as a current, past or potential employer and offers reimbursement for claims brought for discrimination, harassment, mobbing etc. by individuals, including claims brought against the entity. Cover includes legal expenses related to any claim, costs incurred when attending and adhering to any official investigation, examination or inquiry.

Not many insurers are participants on the market for this sort of blended insurance. It is recommended for small and midsize companies active in investment management. The unique mix can be adapted to the needs of each segment the policyholder operates in. Some carriers are more creative than others and able to create unique products by using their standard forms to be combined by and endorsement.