Investment Company Insurance Coverage Checklist
The coverages an investment company business may carry — core, prevalent, and situational — why each matters, and the gap most often missed.
Pull out your current policy and check the box next to any coverage you can confirm is already in place — anything unchecked is worth a quick conversation with your advisor. Coverage checklist for registered funds and their boards. Priorities reflect typical exposure; confirm against the fund complex.
Tick each coverage you can confirm you carry — anything left unticked is a good question for your next policy review.
| Have it? | Coverage | Why this business needs it | Priority |
|---|---|---|---|
| Fund D&O / E&O (Joint Policy) | Covers the funds, adviser, and directors for shareholder and regulatory claims. | Core | |
| Independent Directors Liability | Dedicated coverage for independent directors if the shared policy is exhausted. | Prevalent | |
| Fidelity Bond (SEC Minimum) | Required by SEC rule — covers theft by fund officers and employees. | Core | |
| Cyber Liability | Covers breaches at the funds and their service providers. | Core | |
| Crime (Social Engineering) | Covers fraudulent payment instructions — often limited in the fidelity bond. | Prevalent |
The coverage gap most often missed
The most commonly missed gap for this class is dedicated coverage for independent directors. A single D&O/E&O policy shared by the adviser, funds, and board can be exhausted by claims against the adviser, leaving independent directors exposed. Boards should consider independent directors liability coverage and confirm the fidelity bond meets the SEC minimum for current assets.
Send us the checklist and we'll review your investment company coverage line by line, then market it across multiple carriers that compete for your account.
Related: Investment Company Insurance · Investment Company Supplemental (apply) · All coverage checklists
Frequently asked questions
What insurance does an investment company business need?
The core coverages for an investment company business are Fund D&O / E&O (Joint Policy), Fidelity Bond (SEC Minimum), Cyber Liability. This checklist also lists the prevalent and situational coverages worth considering, with a plain-English note on why each matters.
Is this checklist insurance advice?
No. It is a free educational tool to help you have a more informed conversation with a licensed professional. It affords no coverage and is not insurance, legal, or financial advice — only your actual policy language governs what is and isn't covered.
Can Cory Washington & Co. review my investment company coverage?
Yes. Share your checklist and we'll review your program line by line, market your account across multiple carriers, and explain the trade-offs in plain English. Cory Washington & Co. LLC is licensed in all 50 states.
This checklist is a free educational tool from Cory Washington & Co. to help you review your own coverage and have a more informed conversation with a licensed insurance professional. It is general information only — not insurance, legal, or financial advice, and not a recommendation to buy, change, or cancel any policy. Coverage terms, availability, limits, and requirements vary by policy, carrier, and state, and only the language in your actual policy governs what is and isn’t covered. Checking or leaving blank any item above does not indicate that you are adequately insured or under-insured. Using this checklist does not create a client, agency, or fiduciary relationship. Always consult a licensed professional about your specific situation.