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 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.”
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 firms 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, todays 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 executiveliability@chartisinsurance.com
or visit www.chartisinsurance.com.
About Chartis
Chartis is a world leading property-casualty and general insurance
organization serving more than 45 million clients in over 160 countries
and jurisdictions. With a 90-year history, one of the industrys most
extensive ranges of products and services, deep claims expertise and
excellent financial strength, Chartis enables its commercial and
personal insurance clients alike to manage virtually any risk with
confidence.
Chartis is the marketing name for the worldwide property-casualty and
general insurance operations of Chartis Inc. For additional information,
please visit our website at http://www.chartisinsurance.com.
All products are written by insurance company subsidiaries or affiliates
of Chartis Inc. Coverage may not be available in all jurisdictions and
is subject to actual policy language. Non-insurance products and
services may be provided by independent third parties. Certain coverage
may be provided by a surplus lines insurer. Surplus lines insurers do
not generally participate in state guaranty funds and insureds are
therefore not protected by such funds.
Source: Business Wire
