CNA Canada introduces asset managers liability solutions

CNA Canada has introduced Asset Managers Liability Solutions, a new policy offering five-part coverage designed to mitigate varied business risks.

“With recent volatility in financial markets and Global economic uncertainty, asset managers face unique challenges and risks,” said Abena Apraku, CNA Canada’s assistant vice president for underwriting management liability – specialty lines. “These uncertainties increase the need for coverage that can be customized to fit their needs.”

The Asset Managers Liability Solutions will be available for new business quotes starting December 1. A statement from the company said the policy was designed to address “clients’ evolving and complex needs in mind,” while being written with “broad definitions and key extensions” and backed by in-house claims professionals. 

The following are the different coverage parts included in the policy:

Investment Adviser Management Liability
Investment Adviser Professional Liability
Fund Management and Professional Liability
Employment Practices Liability
Fiduciary Liability

“Our primary solution offers flexibility for asset managers, supported by our team of industry experts and claim specialists,” said Jacqueline Detablan, vice president, specialty at CNA Insurance.

CNA Canada forms part of CNA Financial Corporation, which recently announced its 2022 third quarter financial results. According to the report, CNA Financial saw its net income drop to US$128 million from US$256 million in Q3 2021.