Berkshire Hathaway Specialty Insurance Launches Venture Capital Liability Policy in Australia

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Berkshire Hathaway Specialty Insurance (BHSI) launched its Professional First Venture Capital Liability Insurance Policy in the Australian market. According to Andrew Boosey, the manager of Financial Institutions, Executive & Professional Lines for BHSI Australia, the move was triggered by the ongoing maturation of Australia’s venture capital sector and the resulting evolution of risks facing fund managers. The policy offers customizable coverage for both venture capital firms' professional services and protection for directors and officers against claims related to wrongful acts.

Consequences

Venture capital managers in Australia will now have access to a specialized insurance product backed by BHSI's financial framework to navigate their evolving risk environment. This introduction provides a new mechanism for firms to mitigate liabilities associated with professional services and executive oversight.

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