Hedge Fund Liability
Our Hedge Fund Edge
AXON’s Hedge Fund Edge Exclusive Combined Financial Lines Policy Designed for Hedge Funds and Their Managers.
Hedge funds and their managers face unique exposures due to operating in a complex and highly regulated environment.Standard hedge fund insurance policies may not respond to the ever-increasing litigation threats brought by investors, employees, shareholders, creditors, regulators and other stakeholders. Axon recognizes the importance of a tailored insurance solution to address these exposures. Axon’s Hedge Fund Edge is a new product.
Backed by Lloyds of London, the Hedge Fund Edge solution combines Directors and Officers, Errors and Omissions, Trade Error, Employment Practices, Outside Directorship and Cyber Liability into a single policy form. As typical of all Axon products, our form contains proprietary coverage enhancements adapted to clients’ needs with coverage going well beyond industry standard.
Key Benefits of Axon Hedge Fund Coverage:
Broad Regulatory Investigations – Informal subpoena coverage for all Insureds including no Wrongful Act Trigger and insured Inquiry coverage for requested interview/documents.
Cyber Liability Extension – Included coverage with minimal exclusions protects against cyber attacks, loss of private corporation information (including 3rd Party information), privacy violations, business interruption and extortion.
Defense Cost – At usual and customary counsel rates ensuring no gap in coverage between an Insurer’s rate cap and insured’s counsel’s rate
Cost of Corrections – Included coverage at no additional premium
Outside Directorship Liability – Outside positions are automatically covered with no need for an insurer approved endorsed list
Full Severability – For Exclusions and Application
Hedge Fund Coverage Terms:
Minimum Premium: $25,000
Program Limits: $10,000,000 Each / $10,000,000 Agg with additional $50,000,000 available
Minimum Retention: $50,000 D&O / $100,000 E&O