Americans can now avail of a unified insurance policy tailored to simplify risk management for asset managers, as Willis has launched its IMI Plus product in the US.
The policy, first introduced in the UK and Canada in July 2024, consolidates multiple coverages into one package.
Willis, part of WTW, developed IMI Plus to address the growing complexity of liability coverage for asset managers. The policy integrates five critical insurance areas: cyber liability, employment practices liability, directors’ and officers’ liability, errors and omissions liability, and crime.
By bundling these coverages, IMI Plus aims to streamline administrative tasks, provide seamless claims reporting, and eliminate gaps in coverage. Clients also benefit from having a single renewal date.
Customization is a key feature of the policy, with modular options available to meet diverse client needs. WTW’s Global FINEX Claims Advocacy Team supports claims resolution, and clients demonstrating strong operational risk management may be eligible for preferred pricing following an independent assessment by WTW’s investment division.
“By integrating WTW’s global expertise with client-focused solutions, IMI Plus empowers organizations with the confidence needed to navigate today’s complex risk landscape and is a reflection of our firm’s commitment to the asset management industry,” said Timothy Sullivan, director for asset management industry leader at Willis.
Henry Keville, Willis' head of FINEX GB Financial Institutions, described the policy as a forward-thinking approach to liability coverage for asset managers.
“Through the collaboration of our global network and extensive support from insurers, we are proud to deliver yet another market-leading solution that addresses the evolving risks faced by our clients in the US market," said Keville.
WTW operates in 140 countries, offering data-driven solutions to help organizations manage risk, improve resilience, and drive long-term sustainability.
Could a comprehensive policy like IMI Plus reshape how asset managers approach liability protection? Share your opinions in the comments below.
