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Investment Management Advantage

Financial information

The financial services industry in Canada must contend with a distinctive and stringent regulatory environment. As a result, financial institution firms have a unique susceptibility to professional liability claims and require specialized insurance products. Liberty Mutual Canada is one of only a few Canadian insurers with a dedicated department specializing in Financial Institutions professional liability products, and a team committed to providing clients with unparalleled service.

Target Classes

Investment fund managers and portfolio managers that have strong management, a sophisticated institutional investor base and a track record of solid investment performance.

Generally Excluded from Appetite

  • Cryptocurrency investment funds
  • Mortgage Investment Corporations focused on 2nd or 3rd mortgages, construction or undeveloped land
  • U.S. publicly traded asset management firms

Policy Highlights

  • Insured organization coverage for professional services, employment practices claims and securities claims
  • Indemnified and non-indemnified outside individual coverage for insured persons serving on non-profit entities and certain for-profit entities
  • Retroactive consent language for cost of corrections
  • Fraud/willful violation exclusion – final, non-appealable judgment or adjudication language
  • Predetermined allocation for defence costs with “floor language”
  • Policy is non-cancelable except for non-payment of premium or mutual agreement between Liberty and the parent organization
  • Broad definition of professional services
  • Blanket definition of investment fund
  • No size threshold for newly created investment funds

Capacity

Up to $15 million

The Liberty Difference

  • Dedicated underwriting team in Canada offering local service in both English and French and understanding of asset management operations for our target market
  • Client focused underwriting team that understands complex risks and are dedicated to providing unparalleled service
  • Strong claims reputation for mutual cooperation and sophistication in Canada with a claims team staffed with lawyers

Why Liberty?

  • • A.M. Best Financial Strength Rating ‘A’ (Excellent); S&P rating of ‘A’ (Strong)
  • • Efficient cross-border capabilities
  • • Established Canadian market presence for over 25 years
  • • Access to Liberty Mutual’s extensive international network
  • • Local underwriting authority
  • • Local risk engineering and risk control experts
  • • In-house claims service team