The main task of investments reinsurance system is protection of investments, placed on investing accounts of PRIVATE FUND MANAGEMENT S.A. The insurance system works this way – if PRIVATE FUND MANAGEMENT S.A discontinues its activity or its license for such investing activity is being recalled, depositors will be paid out 100% of their invested money according to the law of investing insurance.
Specialists of a reinsurance company IMPERIAL INSURANCE BROKER LLP answer the following frequently asked questions.
What investments are being insured?
Any money in any currency placed by a person or a company on the investing account of PRIVATE FUND MANAGEMENT S.A can be insured.
Is the money of investments per cents being insured?
Money of investments per cents becomes insured only in case of its withdrawal from the account, being deposited as a new investment.
When does investor have a right to receive compensation on deposits?
Investor’s right to reimburse on deposits emerges in 2 cases:
- on recall of license for investment activity of PRIVATE FUND MANAGEMENT S.A;
- on force majeur resulted in impossibility of PRIVATE FUND MANAGEMENT S.A to pay out the amount of money according to agreement.
What amount of money will investor receive if he has deposits of different portfolios and in various currencies?
Deposits of different portfolios are a single whole deposit for PRIVATE FUND MANAGEMENT S.A. That is why they are insured in the amount of no more than $1,000,000.
What amount of money will spouses receive if each has deposits in the same bank?
On insurance case emergence every from spouses receives independent deposits compensation in the amount of no more than $1,000,000.
I have a plastic card of IVATE FUND MANAGEMENT S.A associated with my husband’s investing account. How is deposit compensation reimbursed in this case?
Your husband only grants you the right to take charge of his money placed on the investing account, opened by RIVATE FUND MANAGEMENT S.A. for him. That is why deposits compensation will be paid out only to the account owner, your husband.
In what currency is deposit compensation paid out?
Reimbursement of deposits is performed in initial currency of investing deposit opening.
In what form is reimbursement performed?
Reimbursement performed by transferring money to the bank account, specified by investors.
Where should investors apply for deposit reimbursement?
In 7 days after an insurance case emergence IMPERIAL INSURANCE BROKER LLP will send notifications to mailing addresses of investors with addresses of local branches of the company or its partners, where investor should apply for deposit compensation.
When does the term of investor’s application for deposit compensation start?
Investor can apply for compensation as from the moment of insurance case emergence.
What documents should investor provide to receive deposit compensation?
The procedure of getting insurance is simple. You fill in a special requesting form and present a personality identifying document, used at opening of the investing account. If you deposit through your representative, he should have a registered power of attorney to let him act on your behalf to claim for deposit reimbursement.
In what terms does IMPERIAL INSURANCE BROKER LLP pay out investors deposit compensations?
Insurance is being paid out in the terms of 10 days as from the day of investor’s provision of necessary documents to IMPERIAL INSURANCE BROKER LLP but not earlier than 14 days from the insurance case emergence.
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