Canopius launches new investment manager cover

Canopius Group has launched a new investment management product for asset managers, a statement released yesterday (17 January 2024) said.

The product offers cover for directors and officers liability, civil liability and financial crime.

Protection can also be extended to legal liability for private equity and venture capital firm representatives on portfolio companies.

Canopius said it was launching the product in response to shifts in the risk landscape in the asset management sector.

“As the asset management industry continues to navigate an increasingly challenging regulatory landscape, the demand for comprehensive cover has never been greater,” Matthew Carr, head of finpro at Canopius, said.

“Our product sets a new standard by drawing upon our extensive underwriting experience. We are delighted to launch this product to support our expansion in this important market segment.”

Scenarios

The product has been designed to respond to a range of scenarios specific to the asset management sector.

This includes extradition defence costs and protection for directors against claims arising from management of a fund.

Alois Rouffiac, UK chief underwriting officer, said: “Our product is the latest example of Canopius’ growth ambition.

”By identifying niche sectors of the market where we have recognised expertise, we will maintain and accelerate our growth momentum.

“Supported by a market-leading claims team, this new offering will pave the way for the expansion of our market share in the asset management sector.”