Market instability pushes indemnity prices higher

Fears about the stability of the hedge fund market have caused a dramatic rise in professional indemnity insurance for managers ' in some cases with increases of more than 300%.

According to Brian Horwell, director of Miller Insurance Group, in one case, a hedge fund that paid £80,000 for insurance last year was quoted a price of £250,000 this year.

Insurance firms view hedge funds as risky and many are reluctant to deal with them at all, he added.

'Most insurers are not keen on hedge funds becau

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