Financial Lines Broker Toolkit

Each day professionals need to make decisions and some of these may be questioned, perhaps as much as years afterward.  A wrong calculation or advice can quickly lead to financial damage. Professional Liability allows the insured to do his job without always looking over their shoulder.

Each year, more and more management companies are set up for various reasons. Nevertheless, when a management company is set up, it is important that the company and its director(s) be well covered for the new risks they could be held liable to. AIG has developed a new complete product that combines professional, directors and officers, general, employment practices- liability. McPro offers the possibility to subscribe by endorsement the World Business Card travel insurance and a 24/24 accident cover.

Mergers and acquisitions insurance is a highly specialised field of cover that specialises in smoothing and facilitating the M&A process. It does this by transferring to an insurance policy certain risks arising from unknown breaches at the time of the transaction. AIG offers a range of bespoke products designed for M&A related transactions. These are highly specialised insurance types and are backed up by an international team of skilled insurance professionals who integrate closely with the negotiating parties to create tailored packages.

Our new D&O for Funds policy provides managerial liability protection for the Directors & Officers of Luxembourg Funds. It provides broad cover in a simplified format for risks including allegations of mismanagement, errors and omissions in investment, breach of fiduciary duty and statutory liabilities. It is the most cost efficient insurance solution for Luxembourg Fund boards.

Our Fund Protector policy provides managerial liability and entity protection. It provides broad cover for risks including allegations of mismanagement, errors and omissions in investment, breach of fiduciary duty and statutory liabilities. The policy covers claims everywhere in the world except where international sanctions regimes apply. Insured persons and entities can enjoy an extended reporting period at no additional costs.

Volatility in fund performance coupled with allegations of unsuitability, misrepresentation, breaches in investment mandate and regulatory investigations can expose investment managers to attack. Not only are they exposed to legal action from investors, regulators and third-parties, they may also be subject to fraud perpetrated by unknown third parties or even trusted employees.

These unforeseen costs undermine the investment managers’ performance and also result in repercussions that can extend well beyond the immediate financial damage. To combat the problem, AIG recognizes the need to take a comprehensive approach towards these exposures by offering a single comprehensive product for investment managers, investment advisors and investment funds.

The Management Company Guard was developed by AIG with the input of a large number of Luxembourg Management Companies. This insurance provides third party ManCom with a flexible 'all in one' insurance product.