Recent risks: Financial institutions

Limit: $2.5m PI
Deductible: $100k

A property investment management company manages a diversified portfolio across commercial asset classes, including retail, office and industrial. The funds under management total to $770m with a revenue of c. $4.3m. Given its diversified portfolio, the company withstood the test of Covid-19 and is performing well. CFC offered them investment managers insurance, specifically PI cover for the manager and fund.

Limit: $1m
Deductible: $25k

A non-bank lender provides loans in the $1,000-5,000 region over terms for 9-18 months with an interest rate of 12.5% - 40%. Its target markets are contractors with good credit history and residents of its home country. Established in 2019, the business remains in start-up phase. However, it grew at a steady pace during the Covid-19 pandemic with a loan book of c. $1m and $160k. CFC offered them D&O cover on our FIPI product.

Limit: $1.15m PI, $500k D&O,
$500k crime, $1.15m cyber

Deductible: $25k A newly founded digital challenger bank with a focus on Western Europe offers payment and banking services, as well as physical and
virtual cards to consumers and SMEs. Given the infancy of the business, they are pre-revenue but forecasting to bring in c.$2m in their second year of operation. CFC provided them the complete package of professional and management liability, in addition to crime and cyber on our tailored FinTech product.

Limit: $2.5m PI/D&O
Deductible: $100k

An investment firm specializing in investments in the fruit sector manages a fund which currently has $152m assets under management (AUM) with a revenue of c. $1.75m. It is the first private equity fund dedicated to investing in this particular fruit sector in its country. With significant investment already made, it has plans to raise a second fund with much interest already confirmed. CFC provided them with a combined PI/D&O investment management insurance package.