AIG To Enable HF Managers To Cover Their Asses
Wednesday, December 14, 2005 - 9:47 am
As hedge funds come under more regulatory scrutiny and have more issues of compliance and disclosure to adhere to, the riskier it becomes to actually be in a position of responsibility at one of these things. Recognizing the growing demand of fund execs to cover their own asses, AIG announced it will offer liability insurance for hedge fund managers and compliance officers. AIG estimates that less than 30% of hedge fund are currently covered by D&O or Errors& Omissions insurance, so there’s certainly plenty of room to grow this product.
Hedge Fund Insurance on Offer [MarketWatch]
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