W. Hartford, CT, May 19, 2015 – Berkley Crime, a division of Berkley FinSecure, a W. R. Berkley company, announced today the launch of its new Investment Company Policy (ICP). The ICP is specifically designed to provide crime-related insurance coverage for registered management investment companies and mutual funds.Coverage under the policy is designed to meet the federal requirements for the bonding of officers and employees of registered management investment companies and mutual funds under the rules and regulations of the Investment Company Act of 1940. The broad coverage afforded by the ICP includes some items not found in a Financial Institution Bond, Standard Form #No. 14, such as a Per Occurrence Limit of Insurance and a broad definition of “employee” specifically tailored for the asset management industry.
Standard coverage provided by the ICP also includes an automatic limit increase endorsement that helps ensure that protection keeps up with business growth. Additionally the ICP is issued in both Portable Data Format (PDF) and Microsoft® Word format for ease of filing.
“The launch of this new product broadens our market offering and reinforces the fact that Berkley Crime brings significant expertise in underwriting crime-related insurance coverage for a wide range of commercial, financial institution, and governmental entities,” said Sean Missal, Vice President of Berkley Crime. “The Investment Company Policy provides high quality, specifically designed coverage for registered management investment companies, including mutual funds.”
ICP coverage is available with substantial limits and can be written on a primary, excess or quota share basis through Berkley Crime’s network of independent insurance agents and brokers.
Click here to view the ICP product highlight sheet or contact any of the Berkley Crime team members listed below for more information.
Contact Berkley Crime:
National Practice Leader and East Regional Manager
Sean Missal (860) 466-7377
Patricia Logan (212) 497-3708
Matt McNamara (212) 497-3707
Mid-West Regional Manager
Michael Beranek (501) 707-6548
Kyna Love (312) 705-1132
West Regional Manager
Jennifer Maggi (925) 472-8217
Steve Nguyen (925) 472-8233
Experts focused on your protection.
Products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued. Certain coverages may be provided through surplus lines insurance company subsidiaries of W. R. Berkley Corporation through licensed surplus lines brokers. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.
For additional information concerning W.R. Berkley Corporation’s insurance company subsidiaries, please visit: http://wrbc.info/Licensing/License.htm