First, with the passing of Frank Dodd and similar regulatory legislation, the regulators, customers and, of course, lawyers smelling blood in the water when it comes to hedge fund management and accountability, and Complaints continue to come to a truly unprecedented pace - there were nearly 9,000 complaints against Madoff only in the months after his arrest, and comes to keep coming, even to the most reputable hedge funds and hedge fund managers.
The thing is that customers are shocked and disappointed often. As senior vice president of Chubb Corp., an insurer of large numbers of boards in the U.S. once said: "While all the world 's to make money, nobody cares about people ... Once you start getting economic damage begins to question," Has my bank, my counselor, my hedge fund deceived me? "" (1) This statement really sums up the way consumers are feeling, and lawyers are making a killing field that fear.
And the scariest thing I / S is that you can be beaten by doing (or not do) something that had no idea that even supposed to do. With so much new, highly qualified, financial legislation hitting the books between 2008 and 2011, it is virtually impossible to keep up with everything, and that 's not even go into all the new interpretations of old statutes.
But although they don 't have all day to sit and read on the law, lawyers do - in fact, that' s their job. This way you can be sued for E / S, even if you run and well managed funds with the best of intentions. And since the claims of this nature may last for years, literally, most if not all hedge funds simply can not afford to take such long-term financial hit.
As you can see, this combination of fear of consumers and the frenzy of litigation that makes E / S of insurance an absolute necessity. In these uncertain financial times, take every advantage you can get, and it is not only easy to get, but that could very well save your bottom line.
Reference:
(1)
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