- Berkshire Hathaway Specialty Insurance (BHSI) has launched its Professional First Venture Capital Liability Insurance Policy in Australia, targeting venture capital managers and funds.
- The policy covers professional services liability, directors and officers liability, crime-related risks and lifetime run-off protection for retired directors and officers.
- Additional protections include automatic coverage for new funds, mitigation costs, net asset value calculation errors, optional entity investigations and outside directorships.
Berkshire Hathaway Specialty Insurance (BHSI) has introduced its Professional First Venture Capital Liability Insurance Policy in Australia, extending its insurance offering for venture capital firms, fund managers and their directors and officers.
Announced on September 7, 2026, the policy provides customisable coverage designed to address professional liability, governance and operational risks associated with managing venture capital funds and investment portfolios.
The launch comes as Australia’s venture capital sector develops and fund managers face changing exposures associated with investment management and corporate governance.
“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,” Boosey added.
The Professional First Venture Capital Liability policy covers professional services performed by venture capital firms, together with directors and officers liability arising from alleged wrongful acts in the management of a company or investment fund.
Coverage also includes reinstatement of Side A protection for directors and officers, lifetime run-off insurance for retired directors and officers, and crime insurance.
The policy incorporates automatic coverage for newly established funds and mitigation protection. It also covers costs associated with correcting accidental errors in calculating a fund’s net asset value.
BHSI said the policy is supported by its financial strength and its “Claims Is Our Product” approach to claims handling.
Additional options include entity investigations coverage and outside director protection for insured individuals serving as representatives on the boards of portfolio companies.
The insurer already serves investment managers in Australia, and the new product extends its specialist liability insurance offering to venture capital funds seeking protection against professional, management and operational exposures.
