Nuts & Bolts: Pittsburgh-based AIG subsidiary National Union Fire Insurance Co. has launched Risk Capital Protector, a program designed to respond to the organizational and managerial liability exposures of venture capital and private equity firms and their managers. Risk Capital Protector insures venture capital and private equity firms in their capacity as investment advisors and general partners to investment funds, and provides coverage for lawsuits brought against fund managers by limited partners and portfolio companies. Broad organizational liability coverages鈥攊ncluding professional services liability, general partner liability, investment advisor liability and directors and officers liability 鈥� are provided for both the organization and individual managers.
Dollars: Capacity up to $25 million; retentions and premiums on an account-by-account basis.
Carrier: International Specialty Lines Insurance Co., rated “A++” (superior) by A.M. Best. Nonadmitted.
States Available: All states.
Contact: Jarrod Schlesinger, (212) 458-1582, jarrod.schlesinger@aig.com; or Jorgen Andersson, (212) 458-1847, jorgen.andersson@aig.com.
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