ACE Group has launched a bespoke liability insurance solution for private equity and venture capital firms in Hong Kong and Singapore designed with new regulatory requirements, the volatile economic environment and increasingly complex deal structures in mind.
The life cycles of private equity/venture capital companies can stretch from a firm at the early stage of raising funds to the later stage of an IPO exit or trade sale. The potential for dispute is broad given the diverse nature of the activities that can be involved in an investment as well as the complex interests of different stakeholders.
ACE believes it understands the diverse risks and has developed the Private Equity and Venture Capital Liability Insurance to offer market-leading protection should in the face of scrutiny from investors, regulators or portfolio companies. It provides broad cover for risks including allegations of mismanagement, breach of fudiciary duty and confidentiality, statutory liabilities, errors and omissions in investment.
With the flexibility to be tailored to meet the different needs of insureds, ACE’s Private Equity and Venture Capital Liability Insurance is a non-rescindable policy offering worldwide protection. It combines four major coverages into one policy:
• Directors & Officers Liability Insurance
• Outside Directors Liability Insurance
• Professional Indemnity Insurance
• Crime Insurance
Stanley Wong (pictured), Regional Head of Financial Lines, Asia Pacific, says: “Private Equity or Venture Capital firms and their management or investment teams are often faced with threats of litigation from a myriad of sources. They need cutting-edge protection that addresses these exposures and an experienced insurer by their side to handle complex claims and litigation.
“ACE is an established provider of professional and management liability insurance, thanks to our customer-first claims approach, financial strength and local presence backed by global expertise. With the Private Equity and Venture Capital Liability Insurance, our insureds have access to highly experienced underwriters and claims specialists with vast knowledge on the issues and liabilities faced by the industry. They can count on us to deliver relevant bespoke protection for their assets and reputation. That’s the value of being ACE insured.”
