19 February 2018
Visit www.avoka.com

IMS Group and Baronsmead form partnership

17 October 2012  |  1169 views  |  0 Source: IMS Group

The IMS Group (IMS), the leading provider of regulatory compliance consulting, has entered into a relationship with Baronsmead Partners LLP (Baronsmead), the specialist asset management focused risk consultant and insurance broker.

As a result, IMS Consulting Group Limited and IMS Consulting Limited have become Introducer Appointed Representatives of Baronsmead which is authorised and regulated by the Financial Services Authority.

The new relationship will see IMS work with Baronsmead to improve clients' understanding of the regulatory, legal, operational and employment risks they face. Importantly, Baronsmead is able to map out clients' risks and the controls they have in place to mitigate those risks to insurers and negotiate competitve pricing on a broad wording.

The timing is opportune as recent research* carried out by Baronsmead, of 120 UK hedge funds, highlighed a wide perception gap between asset managers and insurers particularly when it comes to the impact of regulation. Insurers see regulatory risk as one of the highest risks facing asset managers, while hedge fund managers' view is that regulation poses little risk to their businesses. The survey, which provides hedge funds with benchmarking data in terms of limts and premiums, also highlighted the poor management of claims.

Stephen Burke, Managing Director, EMEA, The IMS Group, said: "Insurance is an increasingly important component of risk control for alternative fund managers and ensuring policies which pay in the event of a valid claim is vital. Our new relationship will benefit clients by helping ensure they can secure well priced effective insurance policies, backed up with claims handling support to maximise recoveries. Our clients are well-advised about the effects of AIFMD and other hedge fund regulation and this will provide a level of comfort among insurers that they are tackling the must-do regulatory 'check boxes'."

Robert Kelly, Senior Partner, Baronsmead said: "Insurers currently view regulatory risk as one of the highest risks facing asset managers and a better understanding of the compliance challenges facing firms is necessary. By working closely with IMS Group, and getting to knknow how they help clients prepare for the myriad regulatory challenges, we are able to represent insurers with a more precise understanding of the insured risk and ensure the clients are properly covered." 

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
Visit www.vasco.comvisit www.ebaday.comVisit https://www.capgemini.com

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
11356 views comments | 16 tweets | 12 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
8913 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8798 views 10 comments | 22 tweets | 26 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8752 views comments | 15 tweets | 43 linkedin
hands typing furiouslyHow can Blockchain Help with AML KYC
8158 views 4 | 9 tweets | 6 linkedin

Featured job

Find your next job