Chartis has introduced Private Equity Professional Edge, 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 combines directors and officers, professional liability, and employment practices liability coverages into a single form.
The policy offers wide 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.
The features of the Private Equity Professional Edge include far-reaching entity protection, encompassing a firm’s liability as a controlling/selling shareholder of a portfolio company.
Other features include 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.
Chartis Executive Liability president Michael Smith said that 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.