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 AIG Australia > For Businesses > Management Liabilities > Financial > FinancialGuard™ Investment Managers
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What is it?
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Financial Protection against breach of duty, directors and officers liability claims
and fraud.
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Why do you need it?
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The AIG Australia IMI policy is an umbrella program that provides protection for
the Professional Indemnity, Directors’ & Officers’ and Crime exposures
faced by the fund manager and it’s funds under management. It is imperative
that investment managers have the appropriate protection for the financial liabilities
that might arise from their business activities.
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A traditional PI or D&O policy will not, without significant amendments, cater
to the exposures faced by a Responsible Entity arising from the Managed Investments
Act.
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Our IMI policy provides cover for the Responsible Entity, the Compliance Committee
Members, Agents & Custodians, and the Investment Funds/Schemes being managed.
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Who needs it?
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Investment Managers, Fund Managers
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Case Studies
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The broad exposures faced by todays investment managers are:
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- Violations of investment management contracts
- Mismanagement or failure to supervise, for example where a Responsible Entity
appoints a rogue portfolio manager
- Non fraudulent misrepresentation, for example the failure to clearly specify tax
implications of investments
- Liabilities that arise under the Managed Investments Act, such as the statutory
responsibilities set out for the Responsible Entity under Section 601FC, the liability
of the Responsible Entity for the acts and omissions of its external custodian or
its auditors, and even the responsibility of directors to ensure that the terms
of the insurance cover effected by the Responsible Entity are adequate
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Find out more
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 IMI Insert.
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IMI Summary.
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Complete Suite FI.
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Contact us
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