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IronPro, the professional and management liability unit of Ironshore Canada Ltd., has introduced a professional liability policy for Canadian-based private equity and venture capital firms that, the company said, will protect against portfolio investment risk exposures worldwide.

IronPro’s private equity liability insurance policy is a specialty product that provides coverage dedicated to private equity firms facing unforeseen risks arising from funds’ indemnity obligations. The company said that the product was developed in response to potential gaps in insurance protection for diverse risk exposures within specialized investment funds managed by Canadian private equity firms. The broad-form, claims-made policy provides coverage for directors and officers, errors and omissions, and employment practices liability insurance lines, and can include provisions for general liability risks, according to IronPro. Policy limits are available for up to $15 million.

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