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Australia has one of the largest and fastest growing investment management sectors in the Asia Pacific Region. Furthermore, it is predicted to grow to over $3 trillion in funds under management by 2030.
With the increased attention on the Australian financial sectors from government as well as higher expectations and demands from clients it is imperative that financial advisory businesses have the correct insurance in place to handle the risk.
Mercantile are experienced with arranging and managing such programmes needed to give you the required protection from a range of local and overseas insurance options.
Industries
Equity fund managers
Private equity fund managers
Venture capitalists
REIT’s
Fund of funds managers
Infrastructure fund managers
Superannuation Trustees
Hedge funds
Mortgage fund managers
Fixed interest fund managers
Biotech / IT fund managers
Health funds
Mutual Funds
Sovereign wealth funds
Agricultural Managed Investment Schemes
Time Share schemes
Film Schemes
Horse or Dog racing/breeding Syndicates
Art fund managers
Fund administrators
Insurance Policies
Professional Indemnity
Directors’ & Officers’ Liability
Employment Practices Liability
Statutory Liability & Supplementary Legal Costs
Crime Protection
Cyber Insurance
Claim Example
Background: The Insured specialised in attracting foreign nationals to invest in Australian property-related funds to enhance their visa prospects. This Claimant invested $4.5M in the property fund allegedly on the
basis that at the time the Insured knew the property was valued at $13M.
Following the investment, the Insured made a loan of $17M to a property developer. The Claimant was allegedly told if the property
developer defaulted on the loan, the Claimant would have first rights to the
subject property. The property developer borrowed further money from a separate lender which included a mortgage over the property. The property developer defaulted on the loan and the property was repossessed by the finance company. The Claimant sued for its loss of investment
and associated losses. Payment: $1,500,000 and $350,000 for
defence costs.
Call us today. Ph: 1300 310 467