Posted on 08 Sep 2010
Chartis today announced the introduction of Private Equity Professional EdgeSM, a comprehensive management and professional liability insurance solution specifically designed by its Executive Liability Division for private equity and venture capital firms and their managers.
Private Equity Professional Edge combines directors and officers, professional liability, and employment practices liability coverages into a single form. The policy provides broad protection for funds, management companies and managers from claims arising from activities on behalf of the funds as well as from participation on the boards of portfolio companies. Private Equity Professional Edge offers market-leading features such as:
* Far-reaching entity protection, encompassing a firm’s liability as a controlling/selling shareholder of a portfolio company;
* Advancement of loss for fund professionals when a firm fails or refuses to advance or indemnify a covered loss; and
* Coverage for advisory board members, industry consultants, entrepreneurs in residence and other advisors acting on behalf of the firm.
“With dynamic exposures such as the new registration requirement under the Dodd-Frank Act, today’s private equity and venture capital firms are seeing increased risks of litigation from a variety of sources – limited partners, portfolio companies, investors, regulators, and even their own employees. Defending these lawsuits is a significant distraction and these claims can also be financially devastating for firms and their investors,” said Michael Smith, President of Executive Liability. “Private Equity Professional Edge enables executives to focus on running their business, while knowing that a broad spectrum of management and professional liability risks they face are addressed in one comprehensive policy.”
For more information on Private Equity Professional Edge, please send an e-mail to firstname.lastname@example.org or visit www.chartisinsurance.com.