What Is GPL Insurance?
General Partnership Liability (GPL) insurance is a specialized blend of Directors & Officers (D&O) and Errors & Omissions (E&O) insurance designed specifically for venture capital, private equity, and other private fund managers.

It protects general partners, fund managers, and governance committee members from regulatory enforcement, LP litigation, and portfolio-level disputes. Whether the trigger is an SEC investigation, valuation challenge, or disclosure issue - GPL coverage is the line of defense between you and personal liability.

Why GPL Insurance Matters More in 2025
In today’s climate, regulators are more aggressive, LPs are more litigious, and governance expectations are higher than ever.
New SEC rules, investor scrutiny of fund disclosures, and rising claim activity mean that many off-the-shelf GPL policies are dangerously outdated. Our 2025 guide walks through what’s changed - and how to respond.

Real Coverage Gaps We’re Seeing

• Exclusions tied to valuation disputes and misleading disclosures

• Hidden limitations on regulatory investigations or pre-claim inquiries

• No coverage for side-letter disputes, preferential treatment, or fee allocation

• Generic forms that fail to address cross-fund exposure, SPVs, or board seats
   

Modern, Tech-Enabled Placement. Legal-Grade Expertise.
At Upward Risk Management, we’re transforming how fund managers secure GPL insurance.

Our proprietary tech streamlines the process - eliminating duplicative questionnaires, scattered emails, and misaligned quotes.  Then our attorney-led risk team reviews every policy for alignment with your real exposures.

Who This GPL Insurance Guide Is For

• General Partners (GPs) and Managing Directors

• CFOs, COOs, and Heads of Operations

• Fund counsel, legal, and compliance teams

• Anyone involved in fund structuring, governance, or insurance purchasing

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