The Development of the Program
Many qualified insurers were approached and competed for the various programs included in the AngelAssure© program. This allowed AngelAssure to leverage the potential collective purchasing of the ACA and its member-backed Portfolio Companies, thereby pre-negotiating best in class terms, conditions, and pricing. Carriers were also selected, in part, on their commitment to an underwriting process that stressed efficiency and quality of results.
The ACA Portfolio Company program has two layers. The first is a program open to all ACA member-backed Portfolio Companies. Each maintains its own policies, inception dates and yet still benefits from the economies of scale of being part of a Program. The alternative is a firm-specific program whereby all or some of the Portfolio Companies of a particular firm coordinate their insurance purchasing. Each company maintains its own limits and policies, but they all utilize a common inception date and are marketed as one risk.
Either program option is designed to leverage the collective purchasing power of the larger group, thereby producing better results for each individual Portfolio Company. The two carriers selected for the Portfolio Program are Chubb Insurance and Scottsdale Insurance.
The ACA VCAP Program option is principally designed for groups or networks that have created a Fund.
Coverage provided includes management liability for the Fund and its partners, D’s and O’s; outside directorship liability; and professional liability. This solution offers the most comprehensive coverage for more complicated Angel Risks. Mason & Mason and Costello & Sons manage the largest portfolio of VCAP programs in the U.S. and offer tremendous clout to ACA members. The carriers selected for this Program include Chubb Insurance and Axis Insurance.
Outside Directorship Liability (ODL) Program.
As an alternative to the VCAP policy, we have created an insurance solution that focuses specifically on your primary risk exposure; namely, your service as directors and officers of your Portfolio Companies. Premiums will vary depending on the number of Portfolio Companies, but minimum premiums are generally $2,500 to $3,000. The carriers selected for this Program include Chubb Insurance and Arch Insurance.
Ask us for recent success stories so you can see how your peers have benefited from this program!