Iron Cove Partners Named Best Global Insurance Provider in Hedgeweek's Global Service Provider Awards
For Immediate Release
For Immediate Release
Tags: alternative asset management, best insurance provider, Iron Cove Posts, brokerage, cyber, directors and officers coverage, Directors & Officers Liability, Errors and Omissions, global, hedge fund, hedge funds, Hedge Funds, Hedgeweek, Insurance, insurance, Insurance Industry News, Iron Cove Partners, louis d'agostino, SEC
As if counter-party risk weren't already one of the biggest concerns of HF Managers! SS&C, one of the largest and most trusted fund administrators serving the alternative asset management industry fell victim to a phishing cyberattack costing a fund client millions of dollars but far worse, their business. As a fund manager, how can you protect yourself?
Tags: ACE, Chubb, Coverage, cyber, Cyber & Privacy Liability, cyber transfer fraud, Directors & Officers Liability, dodd-frank, Errors and Omissions, Fidelity Crime, financial institutions, Fund administrator, hedge fund, hedge fund insurance, Hedge Fund Regulation, hedge funds, Hedge Funds, Insurance, insurance, Lou D'Agostino, Professional Liability, property & casualty, Risk, social engineering, SS&C, Tillage
We recently received a referral from a consultant who was asked to assist their client with the D&O insurance buying process. He reached out to us and asked if we can help as he felt his client needed more guidance and advice than they were getting. Who can blame them? Management Liability Insurance is complex and it's not a cheap purchase. Hence clients expect, as they should, to be educated on the product and how it will address their specific risks and concerns.
On October 11th, 2016, the Securities and Exchange Commission announced that, in fiscal year 2016, it filed 868 enforcement actions exposing financial reporting-related misconduct by companies and their executives and misconduct by registrants and gatekeepers, as the agency continued to enhance its use of data to detect illegal conduct and expedite investigations.
Tags: Iron Cove Posts, Directors & Officers Liability, D&O, dodd-frank, hedge fund, Hedge Fund Regulation, Insurance, insurance, Iron Cove Partners, Lou D'Agostino, Regulation, regulation, Risk, Risk Management, SEC, SEC Investigations
Who: New York Based RIA & Private Fund with $400,000,000 in assets under management.
The SEC has commenced enforcement proceedings against a large greenwich based Hedge Fund siting violations of section 206(2), 206(4) and 206(4)-8 of the Investment Advisers Act in part resulting from inadequate insurance premium allocation methodology.
Tags: Iron Cove Posts, Claims, Coverage, Directors and Officers Insurance, directors and officers liability, D&O, financial institutions, hedge fund, hedge fund insurance, insurance, Iron Cove, Lou D'Agostino, Premium Allocation, Professional Liability, protection, regulation, Risk, SEC