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What is the difference between Directors’ and Officers’ Liability and Professional Indemnity for an asset manager?

D&O insurance policies provide personal financial protection for the directors and partners of funds and management companies in the event of a claim against them. Where there is a regulatory investigation, this insurance covers them against claims arising from their actions in their capacity as directors or partners.
 
One of the main differences between PI and D&O policies is the capacity in which the wrongful act, which gives rise to the claim, is committed.
 
In the case of the PI policy, this wrongful act will occur where services are being provided to or on behalf of customers, as opposed to a D&O policy which triggers for acts committed in the course of the overall management of the companies for which fiduciary duties are owed.

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