Berkshire Hathaway Specialty Insurance has launched a liability cover designed for venture capital managers and funds in Australia. 

The insurer says its Professional First Venture Capital Liability Insurance 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 product also includes reinstatement of Side A coverage, lifetime run-off cover for retired directors and officers, and comprehensive crime coverage. 

“Australia’s venture capital sector continues to mature, and the risks facing fund managers are evolving along with it,” BHSI Australia manager for financial institutions, executive & professional lines Andrew Boosey said.

“We are pleased to bring this innovative solution to Australia to support VC managers as they navigate an increasingly complex risk landscape.”