SEC Seeking Criminal Prosecutions and Admissions of Guilt; How will your D&O Insurance Policy Respond??
April 16th, 2014
Check here for the latest Iron Cove Case Studies & Financial Services Related Blog Posts
April 16th, 2014
Tags: Hedge Funds, insurance, Iron Cove Posts, Coverage, Criminal Prosecutions, Directors and Officers Insurance, Directors & Officers Liability, Errors and Omissions, Falcone, Fines, Harbinger, Iron Cove Partners, Liability, Mary Jo White, Penalties, SEC, Severability
Most Money Management Firms purchase blended D&O and E&O Insurance Policies under the assumption that they are covered in the event an outside shareholder brings a lawsuit alleging mis-management or breach of fiduciary. While they may be right, there are a variety of policy provisions that could preclude coverage in the event of litigation.
Tags: Hedge Funds, Insurance, Advisory Board Member, Breach, Directors & Officers Liability, Errors and Omissions, Fiduciary, financial institutions, hedge fund, Insurance Protection, Iron Cove Partners, Lawsuit, Liability, louis d'agostino, Management Company, Partner, Shareholder
Countless numbers of our financial institution clients are asked to carry Fiduciary Liability protection by third-party investors. This request causes a lot of confusion for asset management firms due to the fact that they rarely ever purchase it (at least in the most literal sense).
Tags: hedge fund insurance, Hedge Funds, Insurance, agency, Asset Management, Iron Cove Posts, brokerage, Due Diligence Questionaire, ERISA, Errors and Omissions, Fiduciary, Fiduciary Liability, hedge fund, investment advisors, Liability, Lou D'Agostino, Pension Plans
In a recent conversation with one of our key Prime Brokerage relationships, we were asked whether or not their client had protection for trade errors. It was their understanding that the error itself wasn't covered but the defense and legal bills typically would be. Please see our exchange below:
Tags: Insurance, Investment Advisor, Iron Cove Posts, cost of corrections, Directors & Officers Liability, Errors and Omissions, hedge fund, Trade error
May 29th, 2013
Tags: Insurance, insurance, Investment Advisers, Iron Cove Posts, Broker-dealer, brokerage, Claims, Coverage Overview, E&O Insurance, Errors and Omissions, Expertise, Iron Cove Partners, Litigation, Lou D'Agostino
On January 26th, 2012 Duff & Phelps hosted a Management & Professional Liability Insurance rountable with Iron Cove Partners, LLC and Louis D'Agostino being the featured presenter.
Tags: insurance, investment funds, allocation, Iron Cove Posts, directors and officers liability, dodd-frank, due diligence, duff & phelps, Errors and Omissions, hedge funds, investors, Iron Cove Partners, louis d'agostino, pension funds, premium
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