In an increasingly regulated and volatile industry, the Private Equity Liability Policy is designed to protect the financial assets of private equity firms and individual fund managers.
Our Private Equity Liability Insurance Policy is designed to address the exposures attendant to private equity investing. The policy blends General Partners Liability, Directors and Officers Liability, Professional Liability, Outside Directorship Liability, and Employment Practices Liability into one comprehensive insurance policy. In the event your clients require specialized coverage, our underwriters can tailor a policy to meet their specific needs.
Why Your Firm Needs D&O Coverage: Claims Scenarios
Private Equity Claim Example
SEC Investigation: A private equity firm received a Subpoena and a Civil Investigative Order from the Securities and Exchange Commission (SEC) requesting documents from the firm in connection with an investigation being conducted by the SEC. The firm hired a lawyer to assist with responding to the SEC’s document request, and expects that the SEC will then seek to schedule interviews with the company’s directors and/or officers. The firm is cooperating with the SEC’s investigation, but does not yet know whether they are the focus of the investigation. Defense costs incurred for this matter could range from $250,000 to $5 million.
Take a look at some more recent private equity claim examples.
Target markets include North American domiciled firms with the following investment strategies:
- Fund of Funds
- Mezzanine Debt Funds
- Real Estate Funds
- Venture Capital Funds
- Private Equity Funds
- Hedge Funds
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Notable Policy Features:
- Non-rescindable A-Side Coverage
- Blanket double excess ODL; No implied warranty statement imbedded in the insuring agreement
- Employment Practices Claim includes Claims brought by any past, present or future employee of an Insured Organization, Portfolio Company or Nonprofit Entity
- Insured Persons includes all employees, advisory board members and any other individuals serving in an Outside Position (provided such individual is indemnified by an Insured Organization)
- Automatic coverage for Investment Funds created during the Policy Period; no fund offering size threshold applies
- Broad scope of covered Professional Services including “Employed Lawyers” coverage
- Insured vs. Insured Exclusion includes all the standard exceptions; however, Claims brought by former Insured Persons are not subject to time period restrictions