Willis and selected London underwriters are launching a product specifically...
Willis and selected London underwriters are launching a product specifically for venture capital and private equity managers.
The product will combine directors' & officers' liability and professional indemnity cover, the broker said.
Alistair Lester, co-head of Willis' international mergers and acquisitions practice, said: “We believe that the sector has previously been misunderstood by the insurance market and therefore the exposures are not always fully and accurately represented in discussions with underwriters.
“Recent history suggests that these combining factors have resulted in narrow coverage with inequitable premiums.”
Willis said private equity and venture capital funds needed a tailored product due to the complexity of their structures, the level of operational involvement with investee companies and the increased focus on corporate governance.
