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CorporateGuard Hedge Funds

Overview:  Two policy levels that cover directors of a hedge fund against claims for breaches of duty in that capacity. 

Who is it for?: 

Protects past or current directors, officers and general partners of the fund, employees, non-executive directors, in-house counsel, company secretaries, compliance officers and hedge fund managers.

AIG UK offers two products specifically tailored for the hedge fund community: Hedge Fund One and Hedge Fund Protector.


 


 

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  • - Hedge Fund One is a stand-alone directors and officers liability policy specifically for hedge funds which indemnifies individuals where the fund cannot and reimburses the fund for indemnities it does pay. Retiring insureds will receive six years’ run-off cover. Additional insurances cover corporate governance and disclosure breaches; costs for regulatory and compliance investigations; key man insurance and public relations expenses.

    - Hedge Fund Protector incorporates all of the cover of Hedge Fund One together with professional services liability; prospectus liability and first party crime cover. A broader range of personnel are covered, including the directors and officers of the fund manager, general partner, inhouse counsel and compliance officers. Independent directors may also benefit from a pre-assigned ring-fenced limit of liability in addition to the policy limit. Both policies also include, as standard, the value-added services common to the AIG UK Financial Institutions range such as express cover for extradition proceedings, loss avoidance and mitigation services, regulatory crisis response costs, and prosecution costs to overturn orders which threaten liberty or assets; crisis management, compliance briefings and kidnap response costs.