Vanbridge’s SiX Launches New Program for Private Equity Fund Liability

Building on the success of the SiX program, which insures the Executive Risks (D&O, EPL & Fiduciary) of PE and VC backed companies, Vanbridge has now launched the SiX program for Private Equity Fund Liability.

Protecting the general partners and employees of a private equity or venture fund can’t be done easily with an off the shelf product. As a result, Private Equity and Venture Capital investors have been forced to spend egregious amounts of time and money to endorse or manuscript their own policies. The problem with this approach is that they are now tethered to the insurance company that provided the wording; they lose choice.

In keeping with its mission of creating efficient insurance solutions for the private equity and venture capital community, Vanbridge has developed a manuscript form for private equity and venture clients. We then took the next logical (but not easy) step of getting multiple (currently 3) leading insurers to underwrite using the Vanbridge program. The result is tailored coverage and easily comparable options.

The policy is underwritten by Arch Insurance, AXIS Insurance and Berkley Professional Liability, all leading management liability markets with private equity expertise, and offers its clients state-of-the-art coverage on a pre-negotiated form. This curbs the need to expend additional resources and incur ancillary costs to obtain appropriate coverage.

Highlights:

• Limits available up to $30MM (Domestic)
• Pre-negotiated form with broad coverage enhancements including a broad definition of Claim with formal and informal investigation coverage, broad blanket ODL coverage, and full severability of exclusions and the application.
• Retail brokers can access the program through Vanbridge to obtain an option for their clients on the Vanbridge form.
• A+ rated paper