Jun 28, 2016 10:01:47 PM
The management and professional liability insurance marketplace for both existing fund managers and emerging managers has softened significantly over the past 12 months. Both pricing and coverage terms are the most competitive they've been in over a decade with insureds experiencing rate decreases coupled with broadened coverage.
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Tags:
Hedge Funds,
insurance,
Iron Cove Posts,
directors and officers,
D&O,
Errors and Omissions,
hedge funds,
Insurance Industry News,
Lawsuits,
Liability,
Litigation,
protection,
regulatory coverage,
SEC
Sep 25, 2015 11:39:29 AM
On September 9th, the Deputy Attorney General, Sally Quillan Yates issued a memorandum to fellow prosecutors citing the DOJ’s focus on individuals responsible for corporate wrongdoing and the importance of holding them accountable. The memo outlines the importance of focusing on individuals from the inception of a civil or criminal investigation. Further, in order to take advantage of every remedy that the government has at their disposal, there needs to be and will continue to be consultation and collaboration between civil and criminal attorney’s. As such, and to no surprise there will be more parallel proceedings between both the DOJ and other regulatory agencies.
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insurance,
Iron Cove Posts,
by laws,
defense costs,
D&O Insurance,
doj,
duty to defend,
indemnification,
Iron Cove,
Liability,
Lou D'Agostino,
reimbursement,
sally yates,
side a,
written undertaking
Feb 25, 2015 12:07:57 PM
I grew up eating Wheaties and couldn't help but remember Bruce Jenner. An olympic decathlete and arguably one of the best all around athletes in the world! From Olympic Gold to reality tv, and now a very public divorce (not to mention wanting to become a woman), one has to wonder #WTH happened to this guy?? This post however, is more about the lack of financial responsibility and adequate protection than Mr. Jenner's fall from grace. On February 9th of this year, Bruce Jenner was involved in a fatal car accident which resulted in the death of a 69-Year Old Widow, Kim Howe. Reports vary, but some say he may have been texting while driving as well as driving too close. In either event, a lawsuit is eminent and he has already hired top tier legal counsel to help him navigate this mess. Per the Daily News Article from last night, it appears that Mr. Jenner only has $250,000 of personal liability insurance protection?? Who is this guys insurance agent? Wealth Advisor?? That amount of coverage is the basic amount provided under a typical homeowners policy and would be inadequate for just about anyone let alone someone of Mr. Jenner's notoriety and fame. As the article alluded to, Personal Umbrella Liability protection should usually be at least 1-2x net worth in order to protect you and your family in the most conservative and catastrophic scenarios like the one Mr. Jenner has found himself in.
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Insurance,
insurance,
Iron Cove Posts,
Daily News,
high net worth,
Iron Cove,
Lawsuit,
Liability,
Lou D'Agostino,
Partners,
personal insurance,
Risk,
Umbrella,
wealth advisor,
Wrongful death
Apr 30, 2014 11:51:18 AM
APRIL 30th, 2014
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Tags:
Insurance,
insurance,
Iron Cove Posts,
Broker-dealer,
Cost,
Coverage,
Coverage Overview,
Dodd-Frank,
Errors and Omissions,
Fiduciary,
Fiduciary Liability,
Finra,
Liability,
Registered Representative,
Regulation,
SEC,
SEC Investigations,
Securities Dealers
Apr 16, 2014 6:18:15 PM
April 16th, 2014
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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
Jan 6, 2014 1:59:24 PM
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.
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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
