Berkshire Hathaway Specialty Insurance Introduces Professional First Venture Capital Liability Policy in Australia

Business Wire

BOSTON & SYDNEY, Australia--(BUSINESS WIRE)--
Berkshire Hathaway Specialty Insurance (BHSI) today announced that it has introduced its Professional First Venture Capital Liability Insurance Policy in Australia, offering tailored coverage for venture capital managers and funds.

“Australia’s venture capital sector continues to mature, and the risks facing fund managers are evolving along with it,” said Andrew Boosey, Manager, Financial Institutions, Executive & Professional Lines, BHSI Australia. “We are pleased to bring this innovative solution to Australia to support VC managers as they navigate an increasingly complex risk landscape.”

BHSI’s Professional First Venture Capital Liability policy provides broad, customisable protection backed by BHSI’s financial strength and Claims Is Our Product philosophy.

The policy provides coverage for professional services performed by VC firms, as well as protection for directors and officers for claims arising from wrongful acts in the management of a company or fund.

The policy also includes reinstatement of Side A coverage, lifetime run-off cover for retired directors and officers, and comprehensive crime coverage.

Additional coverage highlights include: automatic cover for new funds, mitigation cover, cover for costs of correcting accidental errors in a fund’s net asset value calculation, optional entity investigations cover, and outside director cover for insured persons serving as representatives on the boards of portfolio companies.

BHSI is a leading market for investment managers in Australia. This launch further extends BHSI’s expertise in the sector and its commitment to providing tailored support for venture capital funds. To learn more, contact [email protected].

Berkshire Hathaway Specialty Insurance Company (incorporated in Nebraska, USA) ABN 84 600 643 034, AFS License No. 466713 (www.bhspecialty.com) provides commercial property, casualty, healthcare professional liability, executive and professional lines, transactional liability, surety, marine, travel, programs, accident & health, and multinational insurance. The actual and final terms of coverage for all product lines may vary. Berkshire Hathaway Specialty Insurance Company holds financial strength ratings of A++ from AM Best and AA+ from Standard & Poor’s. Based in Boston, Berkshire Hathaway Specialty Insurance has offices in Atlanta, Boston, Chicago, Columbia, Dallas, Houston, Indianapolis, Irvine, Los Angeles, New York, Plymouth Meeting, San Francisco, San Ramon, Seattle, Stevens Point, Adelaide, Auckland, Barcelona, Brisbane, Brussels, Calgary, Cologne, Dubai, Dublin, Frankfurt, Hamburg, Hong Kong, Kuala Lumpur, London, Lyon, Macau, Madrid, Manchester, Melbourne, Milan, Munich, Paris, Perth, Singapore, Stockholm, Sydney, Toronto, and Zurich.