Insurance for Asset Management Firms
Asset management firms face a wide variety of exposures—from professional liability to employment practices liability and employee dishonesty. It’s essential to prepare for the unexpected. That’s where Travelers SelectOne+® for asset managers can help.
Travelers Knows Asset Management
Travelers’ experienced, dedicated teams know the investment industry and its challenges. We can help asset management firms protect themselves with Travelers SelectOne+. With superior flexibility, Travelers SelectOne+ has coverage options for your asset management needs.
Who is Travelers SelectOne+ right for?
- Investment advisers
- Mutual funds
- Hedge funds
- Private equity funds
- Venture capital funds
- Private equity real estate funds
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Why Insurance for Asset Managers?
Insurance is important for asset managers because they face a variety of management and professional liability exposures. Client litigation and regulatory matters can be expensive to defend. They also can result in large settlements. Asset management insurance can help protect a company from financial devastation.
The Benefits of Travelers SelectOne+ for Asset Managers
- Flexible offerings allow asset managers to choose coverage options for their specific needs.
- Dedicated teams provide asset management industry expertise.
- Risk mitigation services are available at no extra cost.
True Story: Once Upon a Precarious Portfolio
Natural fluctuations in the financial markets make asset management a risky business. Professional service oversights are not uncommon, but they can be very costly.
An unfortunate mistake occurred at this financial services company, causing a non-profit organization’s portfolio to take a hit. What’s the moral of this story? Tune in to find out.
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TEXT: TRUE STORY
To err may be human. But when a mistake has a large price tag attached, to err can be very costly as well.
Presented by Travelers Insurance
Once Upon a Precarious Portfolio
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A non-profit organization that helps fund college educations, received donations that amounted to a tidy sum. It was the largest endowment Strategic Perspectives Asset Management had ever been asked to manage.
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The non-profit was anxious to protect and grow their investments to support their efforts. Tom, a mid-level investment advisor, was up to the challenge.
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Or so he thought. Tom outlined an agreement with a capital preservation strategy. It limited investments to low-risk debt securities with a small allocation for large cap value equity securities.
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After agreeing to rebalance the portfolio quarterly, Tom and the non-profit organization, we're confident that the endowment would grow steadily over time.
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Until Tom took his eye off the ball. An unexpected slowdown in global economic output triggered a decline in the equity markets.
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When Tom failed to adjust the non-profit’s portfolio accordingly as agreed upon, the non-profit’s portfolio lost a significant amount of its value. The firm was then alleged to have been in breach of its fiduciary duty.
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This serious professional service oversight put the firm in a very tough spot and the endowment’s viability in jeopardy. Happily, Strategic Perspectives had a better safe than sorry philosophy
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and Travelers Errors and Emissions coverage. Because the claim was covered, Strategic Perspectives – and especially the non-profit organization –
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sidestepped what could have been a very unhappy ending. The non-profit organization was back to business as usual,
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helping college-bound kids pursue their dreams of a bright future.
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TEXT: Contact your Travelers representative to learn more
Travelers Casualty and Surety Company of America and its property casualty affiliates. One Tower Square, Hartford, CT 06183.
This material does not amend, or otherwise affect, the provisions or coverages of any insurance policy or bond issued by Travelers. It is not a representation that coverage does or does not exist for any particular claim or loss under any such policy or bond. Coverage depends on the facts and circumstances involved in the claim or loss, all applicable policy or bond provisions, and any applicable law. Availability of coverage referenced in this document can depend on underwriting qualifications and state regulations. Claims scenarios are based on actual claims, composites of actual claims, or hypothetical situations. Resolution amounts are approximations of both actual and anticipated losses and defense costs. Facts may have been changed to protect confidentiality.
© 2022 The Travelers Indemnity Company. All rights reserved. Travelers and the Travelers Umbrella logo are registered trademarks of The Travelers Indemnity Company in the U.S. and other countries.
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