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Investment management insurance (IMI)
Limit: $1m E&O/D&O
Deductible: $150kEstablished in 2021, a start-up venture capital (VC) firm currently has $10m assets under management (AUM). The target fund size is $40m with a focus on female-led technology companies on a pre-seed basis. They are experienced in building companies outside VC hubs, with a diverse team and a strong track record. CFC offered them $1m E&O/D&O on our investment management product which includes cover for the fund.
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Financial institutions PI (FIPI)
Limit: $3m E&O/D&O
Deductible: $20kEstablished in 2021, a start-up community nonbank lending business offers support to impact organizations and social enterprises. These organizations bring positive social, environmental and cultural benefits to the region. The loans are tailored to the organizations’ projected growth profile and repayment capacity, focusing on shared success. In order to meet the client’s demands and needs, CFC wrote the policy on our FIPI wording.
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FinTech
Limit: $2.5m E&O/D&O/Crime/Cyber
Deductible: $100kA challenger bank targets SMEs with a product offering of payment, banking, debit and virtual cards services. With an experienced executive team and advisory board, they have gone through significant funding rounds and are forecasting $60m in revenue in the next few years. CFC provided them with the complete package of E&O and D&O, in addition to crime and cyber on our bespoke FinTech product.
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Investment management insurance (IMI)
Limit: $2.5m E&O/D&O
Deductible: $100kA fund manager was established in 2018 to help support a local church to provide capital, business advisory and technical assistance for mission-related social businesses. CFC provided $1m E&O/D&O coverage on our tailored
investment management insurance product.
For more information about FinTech insurance check out our financial institutions product page or get in touch!