ACE unveils bespoke insurance solution for Asia Pacific market
Multiline property and casualty insurer ACE Group, which operates in Bermuda, has launched Private Equity and Venture Capital Liability Insurance in Hong Kong and Singapore.
The product offers market-leading coverage to tackle the evolving regulatory and volatile economic environments as well as increasingly complex deal structures.
ACE 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.
ACE’s Private Equity and Venture Capital Liability Insurance is a non-rescindable policy offering worldwide protection and can be tailored to meet different needs of insureds. It combines four major coverages into one policy: directors and officers liability insurance; outside directors liability insurance; professional indemnity insurance; and crime insurance.
Stanley Wong, regional head of financial lines, Asia Pacific, said: “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.”