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Chartis Introduces Private Equity Professional EdgeSM, Management & Professional Liability Insurance Solution for Private Equity and Venture Capital Firms
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NEW YORK – September 8, 2010 -- Chartis today announced the introduction of Private Equity Professional EdgeSM, a comprehensive management and professional liability insurance solution specifically designed by its Executive Liability Division for private equity and venture capital firms and their managers.

Private Equity Professional Edge combines directors and officers, professional liability, and employment practices liability coverages into a single form. The policy provides broad protection for funds, management companies and managers from claims arising from activities on behalf of the funds as well as from participation on the boards of portfolio companies. Private Equity Professional Edge offers market-leading features such as:

  • Far-reaching entity protection, encompassing a firm’s liability as a controlling/selling shareholder of a portfolio company;
  • Advancement of loss for fund professionals when a firm fails or refuses to advance or indemnify a covered loss; and
  • Coverage for advisory board members, industry consultants, entrepreneurs in residence and other advisors acting on behalf of the firm.

“With dynamic exposures such as the new registration requirement under the Dodd-Frank Act, today’s private equity and venture capital firms are seeing increased risks of litigation from a variety of sources – limited partners, portfolio companies, investors, regulators, and even their own employees. Defending these lawsuits is a significant distraction and these claims can also be financially devastating for firms and their investors,” said Michael Smith, President of Executive Liability. “Private Equity Professional Edge enables executives to focus on running their business, while knowing that a broad spectrum of management and professional liability risks they face are addressed in one comprehensive policy.”

For more information on Private Equity Professional Edge, please send an e-mail to executiveliability@chartisinsurance.com or visit www.chartisinsurance.com.

About Chartis

Chartis is a world leading property-casualty and general insurance organization serving more than 70 million clients around the world. With one of the industry’s most extensive ranges of products and services, deep claims expertise and excellent financial strength, Chartis enables its commercial and personal insurance clients alike to manage virtually any risk with confidence.

Chartis is the marketing name for the worldwide property-casualty and general insurance operations of Chartis Inc. For additional information, please visit our website at http://www.chartisinsurance.com. All products are written by insurance company subsidiaries or affiliates of Chartis Inc. Coverage may not be available in all jurisdictions and is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain coverage may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.

Marie Ali