Directors’ and Officers’ Liability insurance provides coverage for individual directors and officers for their potential personal liabilities incurred in directing the affairs of an investment fund. In addition, it can reimburse the fund where the fund has indemnified the directors and officers, thus safeguarding the funds assets from erosion.
Directors can be subject to claims from multiple sources including investors, regulators and service providers. The recent high profile case, Weavering Macro Fixed Income Fund Limited (In Liquidation) v. Stefan Peterson and Hans Ekstrom; this case resulted in the Cayman Islands court awarding damages against the directors of $111m .
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