A company press release says St. Paul Travelers SelectOne for Investment Advisers and Funds addresses exposures they might incur through business interactions with investors, employees, shareholders, governmental agencies, and pension plan participants.
According to the release, the policy provides coverage for the following:
- Failure to adhere to investment guidelines and restrictions,
- Misrepresentations and failure to adequately disclose risks,
- Mismanagement of investments,
- Breach of fiduciary duties to clients or pension plan participants,
- Unintentional errors committed in the course of performing regular investment adviser duties.
The St. Paul Travelers SelectOne for Investment Advisers and Funds can be customized for the specific needs of the advisor or fund. It includes options for products such as Investment Advisers Professional Liability, Mutual Fund Liability, Employment Practices Liability, and Fiduciary Liability. Also, according to the news release, separate coverage can be purchased for fidelity and crime exposures under an investment company blanket bond, a financial institution bond or a fiduciary dishonesty bond.
The company’s Web site is www.stpaultravelers.com .