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Insurance for asset managers:
Everything you need from a specialist broker

In a world characterized by geopolitical tensions, volatile markets and technological upheaval, asset managers are under immense pressure. Not only do they have to invest wisely and with foresight - they also have to meet complex regulatory requirements and protect their organization against a growing number of threats.

While investors' expectations are becoming more stringent and traditional investment approaches are being questioned, legislators are creating regulations such as the German Securities Institutions Act (WpIG),MiFID II, ESG requirements or - if structured accordingly - international reporting obligations such as FATCA/CRS. In addition, the attack surface for cyber criminals is growing - especially for financial companies with a high level of digital dependency and confidential customer data. We are also seeing an increasing number of liability and performance risks in complex transactions, for example in the area of illiquid assets or buy-out structures.

As one of the dynamically growing specialist brokers in the DACH region, we at Risk Partners support asset managers, asset managers and securities institutions with a deep understanding of the industry and tailor-made insurance solutions. We advise both independent asset managers and subsidiaries of banks or insurance companies - always with a view to their individual risk landscape and regulatory requirements.

Our products are specifically tailored to the requirements of e.g. the WpIG and cover the specific risks - from classic financial loss (D&O/E&O through our Risk Partners D&O/E&O Asset Manager Protect) to modern cyber and crime solutions or supplementary criminal law protection for managing directors. Our claim as a quality provider: Insurance at eye level - not off the shelf, but with real strategic relevance. For all those who want to concentrate on what really counts in asset management: Performance, trust and stability.

Our partners

In order to insure even complex fund constructs, we are in personal contact with all leading risk carriers in continental Europe and the UK insurance market to find innovative solutions that suit your needs.

 

Structured risk dialog according to four fields:

In a holistic dialog with our clients from the asset manager sector, we cluster the strategic risk dialog according to four subject areas, for which we then discuss potential risk transfer.

The answers to key risk questions in asset management are often very individual, but we would like to provide an initial overview. 

D&O / E&O insurance as a central component

Less controversial is the risk transfer of civil law claims - for example from investors, business partners or supervisory authorities. Regardless of whether an asset manager operates in the form of a German GmbH & Co. KG, as a securities institution or, for example, via a Luxembourg public limited company (Société Anonyme, S.A.) or limited liability company (Société à Responsabilité Limitée, S.à r.l.): The targeted transfer of these risks via specialized E&O and D&O insurance policies is now widespread among risk-conscious companies.

E&O (Errors & Omissions)insurance primarily serves to protect against errors in the context of professional activities - for example in investment advice, portfolio management or communication with investors. This typically includes claims in connection with sales documents, declarations of suitability or investment conditions. The policy examines such claims, defends against unjustified claims and pays out in justified cases.

D&O insurance (Directors & Officers), on the other hand, protects the personal liability of managers, board members or directors, both internally (towards their own institution) and externally (e.g. towards investors or BaFin). In practice, we particularly see cases in connection with breaches of fiduciary duty, breaches of regulatory requirements (e.g. WpIG, MiFID II), errors in risk management or misleading investor reporting.

We also recommend that asset managers keep an eye on the aspect of third-party mandate clauses and accumulation clauses. It can make sense to work with different insurers or D&O consortia in order to avoid possible accumulation effects - for example through reciprocal exclusions or deductible sublimits in the event of a claim ("don't put all your eggs in one basket").

To meet these requirements, we offer Risk Partners D&O/E&O Asset Management Protect, a modular solution tailored to your structure and risk profile - developed specifically for modern asset managers.

Sidekick: The DORA Regulation came into force on January 17, 2025. This is likely to make it necessary for fully regulated capital management companies to optimize contracts with service providers, for example. Is your D&O/E&O insurance ready for this? We would be happy to check this for you.

Guidelines: How do asset managers and their managing directors protect themselves against liability risks?

Read our VC guide to find out what insurance asset managers and their management need for personal risk management in order to avoid falling into liability traps and what else is relevant for protecting the company. You will also receive our anonymized evaluation from our benchmark database for more transparency and comparability with your peers:

  • Sums insured
  • Limit structure (maximization and "shared limits" vs. "separate limits")
  • Premium benchmark
 

We compare these parameters on the basis of fund volume, investment focus and year in which the D&O / E&O was first placed.

Blog / News

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December 29, 2024

"Digital Operational Resilience Act" (DORA regulation) from the perspective of venture capital and private equity funds

DORA regulation applies from January 2025. Significance for our private equity and venture capital clients The somewhat unwieldy name "Digital Operational Resilience Act" (DORA for short) has a very serious background and is fundamentally to be welcomed. Because when we evaluate our claims in the context of cybercrime, PE and VC funds and their KVGs are those with the highest frequency of claims. This can be safely assumed,

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Innovation by Risk Partners & Fides Technology Now on Vimeo and Soundcloud: get practical tips from experts with high relevance for avoiding liability for business managers. Question unanswered? Content: Personal liability is a constant sword of Damocles hovering over managing directors in everyday life. The standard of care is strict and directors bear the burden of proof. In cooperation with the distinguished corporate lawyer Eva Homborg (Esche Schümann Commichau) and the governance expert Philippa Peters (Fides Technology GmbH)

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January 12, 2024
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