Argo subsidiary offers new speciality insurance product line

Argo Pro, a member of Bermuda-based Argo Group, the international underwriter of specialty insurance and reinsurance products, has expanded its line of professional and management liability insurance products with a new specialty insurance offering for investment advisers and mutual funds.

Argo Pro’s Asset Management PlaybookSM is designed to helo protect investment advisers, wealth management firms, funds and other related financial institutions—up to $15 million in capacity—from potential liability risks associated with the professional services they provide to their clients.

Features of the software include coverage under one policy for investment adviser professional liability, investment adviser management liability, investment fund management liability, employment practices liability and fiduciary liability.

“As the complexity of today’s securities markets continues to intensify, investment advisers are becoming increasingly vulnerable to possible litigation, regulatory scrutiny and a host of emerging liability risks,” said Laurie Banez, senior vice president, chief underwriting officer, Argo Pro.

“To keep pace with such exposure, firms can take a proactive approach to managing their risk by protecting their interests with a flexible specialty insurance policy that can be customised to respond to their individual needs.”