Company Offers Hedge Fund Fraud Insurance

Law360, New York (January 22, 2008, 12:00 AM EST) -- Investors looking to maximize profits by sinking funds into a hedge fund now no longer have to worry about losing their life savings to fraud, according to a London-based investment insurance company that has devised a new insurance product aimed at hedge fund investors.

On Monday, Protean Investment Risks began offering insurance that guarantees against misrepresentation of assets, theft and fraud by hedge fund managers and other employees.

Protean founder Nathan Sewell said that the insurance policies will take into consideration a variety of a fund's...
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