Travelers Introduces Enhanced Policy for Investment Advisers and Funds.COLLINGWOOD, Ontario The town of Collingwood is located on the southern point of Georgian Bay, known as Nottawasaga Bay. Demographics
as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery Guarantee Insurance Company ("Travelers") at "Changing Channel: The Future of Mutual Fund Dealers" symposium in Collingwood, Ontario. Travelers SelectOne(SM) for Investment Advisers and Funds helps investment advisers, mutual funds and hedge funds deal with exposures they might incur through business interactions with investors, employees, shareholders, governmental agencies and pension plan participants Plan participants Employees or other beneficiaries who are eligible to receive benefits from a company's employee benefit plan. . Specifically, the policy provides coverage for the following incidents: --Failure to adhere to adhere to verb 1. follow, keep, maintain, respect, observe, be true, fulfil, obey, heed, keep to, abide by, be loyal, mind, be constant, be faithful 2. investment guidelines and restrictions; --Misrepresentations and failure to adequately disclose risks; --Mismanagement of investments by an adviser on behalf of a pension fund; --Breach of fiduciary duties to clients or pension plan participants; and --Unintentional errors committed in the course of performing regular investment adviser duties. "Investment advisers, mutual funds and hedge funds have come under increased regulatory scrutiny over the last few years and as a result, these groups are recognizing that they require coverage to address the wide variety of risks they face," said Phil Baker, vice president, Financial & Professional Services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. . "Our policy is flexible so customers can choose the coverages they need and combine them all under one policy with separate liability limits for each coverage." Travelers SelectOne(SM) for Investment Advisers and Funds includes an option to select products such as Investment Advisers Professional Liability, Mutual Fund Liability, Employment Practices Liability, and Fiduciary Liability. Separate coverage can be purchased for fidelity and crime exposures under a financial institution bond or a fiduciary dishonesty bond. Coverage is also available for kidnap and ransom risks. Travelers has been underwriting mutual fund investment advisers and funds in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. since 1988. For more information regarding this product and other products offered by Travelers in Canada, visit www.travelerscanada.com. About Travelers Travelers is a business of The St. Paul Travelers Companies The Travelers Companies (NYSE: TRV) is the second largest underwriter of commercial property casualty and personal insurance in the United States. The company is headquartered in St. Paul, Minnesota and has major operations in Hartford, Connecticut. , Inc. (NYSE NYSE See: New York Stock Exchange :STA), a leading property casualty insurer selling primarily through independent agents and brokers. The company's diverse business lines offer its global customers a wide range of coverage in both the personal and commercial settings, including automobile, homeowners, construction, small business, oil and gas, ocean marine, financial and professional services, global technology and public sector services. St. Paul Travelers is ranked 85 in the Fortune 500, with 2005 revenues of $24.4 billion and total assets of $113.2 billion. The company has approximately 32,000 employees. |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion