Tuesday, 13 October 2015
Last updated 3 min ago
Jun 27 2011 | 9:01am ET
Hedge fund risk management and insurance advisor SKCG Group has launched a comprehensive program for hedge funds that includes a ‘Start-Up Kit’ for emerging managers.
Based on SKCG’s analysis of the hedge fund industry’s insurance needs, the program grows in sophistication as the fund’s assets under management and number of employees increase.
“We created this program to give hedge fund managers a clear understanding of their options every step of the way,” said David Parker, president of SKCG’s employee benefits division. “When hedge fund managers launch their funds, they face abundant responsibilities and requirements. Our ‘Start-Up Kit’ is designed to take their risk management and insurance concerns off the table so they can concentrate on raising assets and managing their funds.”
Hedge fund start-up insurance concerns addressed by the program include purchasing property/casualty and liability insurance, workers’ compensation, medical coverage, as well other basics such as payroll administration. According to SKCG, more start-ups are also acquiring directors and officers and errors and omissions (D&O/E&O) professional liability coverage.
For more established hedge funds, the program addresses issues like key-person life insurance.
SKCG’s ‘Start-Up Kit’ comes as new hedge fund launches increase and the industry reports AUM of $2 trillion, a level not seen since the 2008 financial crisis.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…