Mutual Fund Insurance
Definition - What does Mutual Fund Insurance mean?
Mutual fund insurance provides specific insurance that protects mutual funds from a wide variety of risks ta they may be exposed to due to the nature of their business. A mutual fund is group of funds that is supplied by investors and managed by a professional money manager.
Insuranceopedia explains Mutual Fund Insurance
Mutual fund insurance can cover a number or risks, including directors' and officers' liabilities, fidelity bonds, and cyber security. It can be critical for making sure that mutual funds don't suffer extreme losses due to risks exposure.
Mutual funds are responsible for managing large assets, which can be worth billions. With so much on the line, it's crucial that they have adequate mutual insurance coverage.