SINGAPORE--(BUSINESS WIRE)--ACE Group announced the launch of Private Equity and Venture Capital Liability Insurance in Hong Kong and Singapore. The product offers market-leading coverage to address the evolving regulatory and volatile economic environments as well as increasingly complex deal structures.
Private Equity/Venture Capital companies face unprecedented exposures as they operate in increasingly demanding environments. The life cycles of Private Equity/Venture Capital companies can stretch from a firm at the early stage of raising funds to the later stage of an IPO exit or trade sale. The potential for dispute is broad given the diverse nature of the activities that can be involved in an investment as well as the complex interests of different stakeholders.
ACE understands the diverse risks and has developed the Private Equity and Venture Capital Liability Insurance to offer insureds market-leading protection should they face scrutiny from investors, regulators or portfolio companies. It provides broad cover for risks including allegations of mismanagement, breach of fudiciary duty and confidentiality, statutory liabilities, errors and omissions in investment.
With the flexibility to be tailored to meet the different needs of insureds, ACE’s Private Equity and Venture Capital Liability Insurance is a non-rescindable policy offering worldwide protection. It combines four major coverages into one policy:
- Directors & Officers Liability Insurance
- Outside Directors Liability Insurance
- Professional Indemnity Insurance
- Crime Insurance
Stanley Wong, Regional Head of Financial Lines, Asia Pacific, commented, “Private Equity or Venture Capital firms and their management or investment teams are often faced with threats of litigation from a myriad of sources. They need cutting-edge protection that addresses these exposures and an experienced insurer by their side to handle complex claims and litigation.”
“ACE is an established provider of professional and management liability insurance, thanks to our customer-first claims approach, financial strength and local presence backed by global expertise. With the Private Equity and Venture Capital Liability Insurance, our insureds have access to highly experienced underwriters and claims specialists with vast knowledge on the issues and liabilities faced by the industry. They can count on us to deliver relevant bespoke protection for their assets and reputation. That’s the value of being ACE insured,” added Mr. Wong.
About ACE Group
ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 54 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index. ACE's core operating insurance companies are rated AA for financial strength by Standard & Poor’s and A++ by A.M. Best.