Pioneer Underwriting Ltd has leapt onto the Alternative Investment Fund Managers' Directive bandwagon by launching a "Zero Capital AIFMD Investment Management Insurance Policy" that promises full capital relief from the 'other funds' provision of the directive.

The firm's propaganda states that "current policies which meet the requirements of the directive do not typically address the requirement that the policy excess be held as additional capital. Pioneer’s [new] policy solves this problem by affording a nil excess for the first loss, requiring no additional capital to be held at the outset of the policy."