“The Coyle Group is an independent commercial insurance brokerage founded in 1929. Based in New York and serving businesses across the United States, the firm helps companies evaluate risk, secure coverage, and manage commercial insurance programs, including general liability, cyber, D&O, and industry-specific policies.”
“Insurance reviews are NOT a quoting exercise, but instead are a thorough analysis of the coverage terms and conditions you have compared to the risks you face. A review should provide you with insight into how well your insurance policies are structured and coordinated.”
“For us, the process of managing risk starts with risk identification, and this is done through the evaluation of your loss history, a physical inspection of your premises or job sites, OSHA reports and conversations with leaders within your firm.”
“BOP stands for Business Owners Policy and it was created in the mid-1980s to help simplify business insurance for small businesses. A BOP often will include at least two coverage parts: property coverage and liability coverage.”
“Not all. Broker-dealers must carry a fidelity bond under FINRA Rule 4360, while RIAs and PE/VC firms often choose bonds voluntarily.Even if not required, many investors and counterparties expect proof of coverage. A fidelity bond is often seen as a baseline safeguard against internal fraud.”
“E&O protects the firm for professional mistakes; D&O protects leaders for management decisions.A client suing over bad advice is E&O. Investors alleging mismanagement is D&O. Most financial firms need both because exposures overlap but policies respond differently.”
“Usually not without an endorsement. Many base policies exclude these losses.To be protected, firms need a social engineering or funds-transfer fraud rider, sometimes attached to crime, sometimes to cyber. Without it, coverage gaps are common.”
“More oversight often equals higher premiums.Firms subject to SEC/FINRA examinations or those with past disciplinary actions may face higher D&O and E&O premiums, as insurers view them as higher-risk.”
“Social engineering fraud.Many firms believe cyber automatically covers it—but most policies exclude wire-transfer fraud unless specifically endorsed. This is the most frequent and costly surprise.”
“Every VC firm should carry D&O, E&O, and cyber insurance at minimum. Crime insurance is strongly recommended and is required by most institutional LP agreements. A specialist broker can help calibrate the right program for your specific situation.”
“VC insurance premiums typically range from less than 0.5% to 2.5% of the policy limit. A $5 million D&O policy for a mid-sized fund might cost $15,000 to $75,000 annually, depending on fund size, regulatory status, claims history, and coverage breadth.”
“No. An LLC limits personal liability for business debts but does not protect GPs from claims alleging personal wrongdoing, fiduciary breaches, or professional negligence. D&O, E&O, and GPL insurance address those exposures specifically.”
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