ACE Unveils Bespoke Insurance Solution for Private Equity/Venture Capital Firms
October 01 2015 - 3:32AM
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20151001005626/en/
ACE GroupMichele Minjoot, +65 6398 8708Vice President & Head
of Communications, Asia Pacificmichele.minjoot@acegroup.com
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