Investment Management Advantage
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.
As one of the only carriers in Canada with a dedicated Financial Institutions team, Liberty is well versed in the intricacies of the financial services industry. With tailored coverage from experienced underwriters, plus claims and risk control expertise, your organization will be better prepared for growth.
A protective partnership
Solutions for complex risks
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
- US. publicly traded asset management firms
- Cryptocurrency investment funds
- Mortgage Investment Corporations focused on 2nd or 3rd mortgages, construction or undeveloped land
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 $15M
Our 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
Liberty Mutual Canada™ is the registered business name under which the Canadian branch of the Liberty Mutual Insurance Company operates in Canada. This literature is a summary only and does not include all terms, conditions, or exclusions of the coverage described. Please refer to the actual policy language for complete details of coverage and exclusions.
