The Venturer

What does it cover?
Protects the organization from some of the fundamental risks that come with running a startup.‘Slip and fall’ claims, damage to a third party’s property, products liability claims, damage to rented space, and personal or advertising injury claims are the bread and butter of a good GL policy.

Why you need it?
It forms the foundation of any company’s risk management program. On top of protecting the company from legal liability caused by bodily injury or property damage, this coverage is usually required in commercial contracts like office leases and vendor agreements.

What does it cover?
Aka “Professional Liability” or “malpractice” insurance. This policy covers the company if a third party claims they lost money because of an act, error, or omission that occurred while the company was providing its professional services.

Why you need it?
Complex litigation is expensive. This pays legal fees and judgments or settlements from a lawsuit for an alleged failure in the provision of professional services. Everybody makes mistakes. This policy helps ensure that a small mistake doesn’t turn into an existential crisis

What does it cover?
Protects your company from lawsuits, fines and penalties arising out of a hacking attack or data breach. It can also reimburse the company for direct expenses like breach notification costs, credit monitoring, data restoration and forensic analysis.

Why you need it?
If you collect any sort of personal or organizational information, process transactions, have a “login” feature on your site, integrate with another organization’s systems in any way, have employees who could fall for a phishing scam, generate online content such as blog posts or even simply rely heavily on email communications, you need cyber liability insurance.

What it covers:
Covers the executives and the company if they are named in a lawsuit or regulatory action. D&O is typically required for institutional rounds of funding or for an upcoming IPO. Some common claims include: claims made against management by investors (e.g. breach of fiduciary duty) and Securities-related claims (e.g. misrepresentation, improper valuation).

Why you need it?:
Ensures the company and its leadership is protected from legal liability related to allegations of breach of fiduciary duty and other management-related claims. It provides the capital required to absorb certain legal costs without mortgaging the future of the entire organization.

What does it cover?
Think of key person insurance as life insurance that pays out to the company. Some policies are actually very similar to a traditional term life insurance policy. Other policies are newer products designed to cover costs associated with a key person’s death without actually being life insurance.

Why you need it?
If you’re dealing with the death of a key person on your team, you will have a tremendous challenge ahead of you. Key person insurance makes a few of those challenges much more manageable so you can focus on your team and the future of your business.

Ensures the company and its leadership is protected from legal liability related to allegations of breach of fiduciary duty and other management-related claims. It provides the capital required to absorb certain legal costs without mortgaging the future of the entire organization.