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Iron Cove Blog

Check here for the latest Iron Cove Case Studies & Financial Services Related Blog Posts

Fiduciary Liability? Do we have it? Can I answer "YES" on the DDQ?

Dec 17, 2013 4:15:41 PM

Fiduciary Liability

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).

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Tags: agency, Asset Management, Iron Cove Posts, brokerage, Due Diligence Questionaire, ERISA, Errors and Omissions, Fiduciary, Fiduciary Liability, hedge fund, hedge fund insurance, Hedge Funds, Insurance, investment advisors, Liability, Lou D'Agostino, Pension Plans

Trade Error! Are We covered?

Dec 11, 2013 6:04:49 PM

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:

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Tags: Iron Cove Posts, cost of corrections, Directors & Officers Liability, Errors and Omissions, hedge fund, Insurance, Investment Advisor, Trade error

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