The HudsonPro General Partners’ Liability (GPL) policy is designed to handle the multitude of exposures created by managers’ investing activities. GPL combines General Partners’ Liability, Directors and Officers Liability, Professional Liability and Outside Directorship Liability. In addition, the product incorporates many of the market-available coverage enhancements, and optional Employment Practices Liability and Fiduciary Liability coverages are available. For insureds seeking customized solutions, HudsonPro underwriters and legal staff are able to work with the insured’s counsel to craft a bespoke product to fit the insured’s needs.
Targeted Funds
Commingled Funds or Single-Purpose Entities are eligible.
- Venture Capital/Growth Equity
- Real Estate
- Asset-Based Lending or Leasing
- Commercial Credit
- Hedge Funds
- Fund of Funds
- Mezzanine Debt
- Private Equity/LBO
- Other Investment Vehicles
We will consider risks with assets under management up to $5 Billion on a primary or excess basis; risks with assets under management exceeding $5 Billion will be considered for excess only.
Capacity:
- Up to $10 Million – Single Aggregate
Policy Highlights:
- Broad definition of Asset Management Services
- Expanded scope of Investment Fund/Operating Entity encompassing all types of investment vehicles
- Favorable ODL language
- Automatic coverage for new Investment Funds created during the policy period; no capital raising thresholds apply
- Additional Side A Limit of Liability
- Derivative Investigation Cost
- Cost of Corrections
- Successor-in-Interest Coverage
- Crisis Fund Coverage
Policy Forms:
- Primary GPL
- Fiduciary Liability
- Excess Follow Form Policy
Additional Coverages Available:
- Employment Practices Liability
- Fiduciary Liability
