Specialty Insurance

Mutual Fund Protection Insurance Policy

Huge investments, the constant battle to deliver investor value, the massive growth in the number of investors, the growing need for accountability... it’s all at stake in the Mutual Funds industry.

HDFC ERGO’s Mutual Fund Asset Protection Professional indemnity Policy has been made keeping in mind the protection needed in the Mutual Funds industry. We provide financial stability, sound underwriting, broad coverage and responsive service to Mutual Fund across the nation.

  • Errors, omissions, misstatements, misleading statements, neglect, breach of duty or breach of trust while performing or failing to perform professional services
  • Errors, omissions, misstatements, misleading statements, neglect, breach of duty or breach of trust by a trustee, director or officer of the Corporate Trustee or Asset Management Company
  • The Mutual Fund
  • The Trustee
  • The Asset Management Company
  • All Directors, officers and employees of the Corporate Trustee and/or Investment Manager (past, present and future)
  • Definition of claim includes civil or criminal proceedings, investigations and written demands
  • Extended Reporting Period
  • Severability of all exclusions for insured individuals
  • Severability of the proposal form
  • Can insure any combination of Unit Trust, trustees, investment managers and their Directors, officers and employees
  • Automatic cover for certain newly created or acquired Subsidiaries
  • No prior acts exclusion
  • Automatic "run off" cover for divested Subsidiaries
  • Multi-year policies available
  • Advancement of defence costs prior to final disposition of a claim
  • World-wide cover
  • Spousal Liability extension
  • Estates and legal representatives of incapacitated or beceased insured individuals are covered
  • Improper trading
  • Disputes over fees
  • Inappropriate investments
  • Failure to properly disclose risks
  • Inappropriate valuation of portfolio securities
  • Breach of fiduciary duty/trust
  • Pending or prior litigation, demands or judgements
  • Circumstances notified under a prior insurance policy
  • Claims brought by one Insured or affiliated person against another Insured other than:
    • Derivative actions brought by shareholders or regulatory bodies
    • Wrongful termination claims
    • Claims by an insured individual for contribution or indemnity
    • Claims brought by a trustee as required by law
  • Claims against the fiduciaries or administrators of any retirement or employee benefit plan
  • Bodily injury or property damage exclusion
  • Pollution
  • Defamation, wrongful entry, eviction, false arrest or imprisonment, malicious prosecution, assault or battery
  • Claims of deliberate fraud, willful violation of regulations or statutes, illegal profit or advantage are excluded where they are established in fact
  • Assumption of the Liability of third parties pursuant to a contract
  • Intentional breach of contract where established at final adjudication
  • Claims brought by security holders of trustee or Investment Manager
  • Counterparty insolvency exclusion