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 b