Woodruff Sawyer has been a leader in the fund-level General Partnership Liability (GPL) space since the creation of this insurance product over 30 years ago. In today’s environment, it’s essential that venture capital, private equity, and alternative asset managers maintain a comprehensive insurance program to protect general partners, directors, and officers from litigation, regulatory scrutiny, and other types of losses. Given our expertise in this space, Woodruff Sawyer’s Private Equity and Venture Capital group created this annual Guide to help asset managers understand the GPL insurance landscape.
This Guide is not a comprehensive list; exact coverage needs depend on the risk profile of each individual firm. Coverage also can vary significantly depending on the broker and insurer partners chosen to transfer the GPL risk. For this reason, we always recommend working with an experienced broker with specific expertise in the GPL space. In most cases, an experienced broker will have negotiated manuscript coverage forms or specific amendatory endorsements that enhance coverage above and beyond the “basic” or “core” coverages. The best brokers will also have their coverage forms vetted and reviewed by outside counsel.
Please see full publication below for more information.
