Hedge Fund Managers Frustrated With Insurance Settlements

According to the London-based firm’s second annual “Hedge Fund Insurance Survey,” 83% of managers who have had a claim said there is a lack of quality of the claims handling.

A new survey from financial insurance firm Baronsmead indicates that poor management and settlement of insurance claims remains one of the biggest concerns for hedge fund managers.
According to the London-based firm’s second annual “Hedge Fund Insurance Survey,” 83% of managers who have had a claim said there is a lack of quality of the claims handling.
Another key finding from the survey is that 82% of hedge fund managers said that they purchased professional indemnity insurance in 2011, compared to 64% in 2010.
Baronsmead is an independent, specialist risk consultant and broker providing financial risks insurance, guidance and advice to the alternative investment management industry. In the last few years, the firm has managed and settled around $20 million of manager and fund claims in the U.K., New York, Cayman Islands and the British Virgin Islands.

Read More: HFN

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