National Union Fire Insurance Company of Pittsburgh, (National Union), a member company of American International Group Inc. (AIG), announced the launch of Risk Capital Protector, a program designed to respond to the organizational and managerial liability exposures of venture capital and private equity firms and their managers.
Risk Capital Protector insures venture capital and private equity firms in their capacity as investment advisors and general partners to investment funds, and provides coverage for lawsuits brought against fund managers by limited partners and portfolio companies. Broad organizational liability coverages – including professional services liability, general partner liability, investment advisor liability and directors and officers liability – are provided for both the organization and individual managers.
Key features of the program include broad coverage for investment advisory and management and other related services provided to portfolio entities, “run-off” coverage for outside entity executives, coverage for advisory board members, and blanket coverage for all existing funds.
“With interest mounting in the venture capital and private equity sectors, awareness of the management and organizational liability exposures unique to these firms and fund managers has also increased,” stated John Keogh, President and Chief Executive Officer of National Union. “The new Risk Capital Protector form was designed to be easy to read and comprehensive; it responds directly to the distinct and evolving insurance needs of venture capitalists and private equity investors.”
For more information on Risk Capital Protector, e-mail firstname.lastname@example.org.
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