This publication carries latest news of product and service launches in global wealth management.

Aon and AIG have teamed up to launch a business insurance programme pitched at smaller asset management firms and family offices.

The offering is called MaxIMIse Investment Managers Multiline Insurance. It will be distributed by Aon and underwritten by AIG, the firms said in a statement yesterday. The offering covers a suite of corporate risk transfer options, with a single renewal data and premium.

“Protecting and growing client assets in step with your own creates unique pressures and it’s easy to see why smaller investment managers may struggle to make time for tasks like insurance,” said Steven George, director in Aon’s financial services group.

“However, the risk profile of asset managers requires a sophisticated solution, so Aon Financial Services Group has worked exclusively with our partners at AIG to help solve this problem. As long-term providers of insurance and risk management services to the asset management industry, our clients tell us that what they crave is simplification,” he said.

"The product combines a wide range of corporate covers including employers’ liability, professional indemnity, D&O [directors and officers], financial crime, business travel and kidnap and ransom, with multi-line discounts and options to consider personal insurances via Aon Private Clients using a separate proposal form,” he said.

The firm also offers CyberEdge, providing cover against security failures - an issue gaining traction amid cybercrime attacks.