Chartis has launched Private Equity Professional Edge, a 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 coverage 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.
“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,” says 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.”
Chartis is a property-casualty and general insurance organisation serving more than 45 million clients in over 160 countries and jurisdictions.
