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:
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Directors & Officers Liability Insurance
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Outside Directors Liability Insurance
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Professional Indemnity Insurance
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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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Source: ACE Group