What Venture Capital Asset Protection Insurance Requirements Apply in Colorado?

Colorado asks advisers to pooled investment vehicles for offering documents, including limited partnership agreements. Have those documents ready when a carrier assesses the fund’s governance and services. The SEC exemption from federal registration is not a blanket state exemption, so confirm the adviser’s state filing position and list the correct entities for insurance.

What Is Venture Capital Asset Protection Insurance?

Venture capital asset protection can combine management and professional liability for a venture or private-equity fund and its managers. The label is not a standard coverage package, so check which funds, partners, board roles and claims the quote includes. Read the national Venture capital asset protection guide.

What to Watch for With Venture Capital Asset Protection in Colorado

Check the State Adviser Filing
Colorado asks advisers to pooled investment vehicles for offering documents, including limited partnership agreements. Have those documents ready when a carrier assesses the fund’s governance and services. Confirm the regulator-facing status of the adviser entity; do not assume SEC exempt-reporting treatment settles it. ^2,¹
Map Each Fund and Manager Entity
Colorado’s adviser materials call for fund offering documents and LPAs; give the carrier the current versions so insured funds and manager duties can be matched. Give the broker the fund, GP, adviser and management-company chart, then ask how the policy coordinates with each entity’s indemnification obligations under its governing documents and organizing law. ^3,¹
Match the Policy to Fund Work
Update the Colorado offering documents and LPA supplied to underwriting after amendments. Ask for a written schedule of funds, management entities, partner board seats and covered professional services; the product label does not establish those terms. ^1,²

Providers With Colorado License Records

No provider in our research has both a state license record and a listing for this coverage line. This does not establish that providers are unlicensed. Check the regulator’s license lookup and confirm availability with a provider when requesting a quote.

Who Regulates Insurance in Colorado?

Colorado Division of Insurance

The Division administers Colorado insurance laws and regulates insurers and insurance producers. You can search producer licenses through Colorado’s official DORA lookup and send insurance complaints to the Division. ^4,^5,⁶

Website: Regulator website
License lookup: Search licensed producers
Complaints: File a complaint
Phone: (303) 894-7499

Surplus-Lines Tax and Stamping Office in Colorado

Reported tax rate. 3% of net premium ^7,^9,⁸

When Colorado is the insured’s home state, its surplus-lines tax is 3% of taxable premium. The Colorado Surplus Lines Association says insurer or broker fees charged in connection with the placement are included in the tax base; federal or other-state taxes and examination fees are excluded. For multistate risks, a tax-sharing agreement may allocate premium tax to other states.

Questions to Ask Before You Buy Venture Capital Asset Protection in Colorado

Can the insurer review our Colorado fund offering documents and LPAs before finalizing terms?
Does the proposal insure the adviser and each GP named in our Colorado fund documents?
How are investor disclosure and fund-governance allegations handled under the policy?

Venture Capital Asset Protection Insurance in Colorado: FAQ

Is the federal venture capital adviser exemption enough for state registration in Colorado?

No. The SEC describes an exemption from federal registration for advisers solely to venture-capital funds, while state adviser rules remain a separate question. Colorado asks advisers to pooled investment vehicles for offering documents, including limited partnership agreements. Have those documents ready when a carrier assesses the fund’s governance and services. Check the applicable state filing status for the adviser and its representatives. ^1,²

What Colorado adviser rule should a VC fund check before buying VCAP?

The state adviser-registration summary says: Colorado asks advisers to pooled investment vehicles for offering documents, including limited partnership agreements. Have those documents ready when a carrier assesses the fund’s governance and services. Separate this filing or financial-responsibility rule from liability coverage, then ask the broker whether the policy covers the adviser, GP, management company and funds. ^2,¹

Which entities should a venture fund in Colorado include in its VCAP application?

Include the fund, GP, adviser and management company, plus partners’ portfolio-company board roles. Colorado’s adviser materials call for fund offering documents and LPAs; give the carrier the current versions so insured funds and manager duties can be matched. Ask the insurer to confirm which entities, services and board seats are covered in writing. ^1,³

Sources for Venture Capital Asset Protection Insurance in Colorado

1
Private Fund Adviser Overview. U.S. Securities and Exchange Commission; Federal exemptions for advisers solely to venture capital funds; state registration may also apply. Accessed 2026-09-28.
2
Colorado Investment Adviser Registration Information. North American Securities Administrators Association; State investment adviser registration requirements and regulator reference. Accessed 2026-09-28.
3
Colorado Legal Materials. Legal Information Institute, Cornell Law School; Constitution and Legislation; official state statutes portal. Accessed 2026-09-28.
4
Colorado Division of Insurance. Colorado Department of Regulatory Agencies; Official insurance regulator homepage; DOI oversight and consumer resources. Accessed 2026-09-28.
5
DORA Online Services. Colorado Department of Regulatory Agencies; Official DORA online services portal; select Online License Verification and insurance profession. Accessed 2026-09-28.
6
File a Complaint. Colorado Division of Insurance; Official form and instructions for insurance complaints. Accessed 2026-09-28.
7
HB23-1111: Unauthorized Insurance Premium Tax Rate. Colorado General Assembly; Enacted bill harmonizes unauthorized insurance tax rate at 3%, effective January 1, 2024; parity with surplus-lines rate. Accessed 2026-09-28.
8
Frequently Asked Questions. Surplus Lines Association of Colorado; FAQ: Colorado home-state tax; fee charged by insurer or broker in connection with placement included in premium base; qualifying federal/other-state taxes and examination fees excluded; commercial exempt policyholder due-diligence exception. Accessed 2026-09-28.
9
Colorado Revised Statutes, Title 10 (2024). Colorado General Assembly, Office of Legislative Legal Services; C.R.S. § 10-5-111.5, surplus-lines premium tax and home-state application. Accessed 2026-09-28.
10
Licenses. At-Bay; Current producer introduction and state table; At-Bay Insurance Services LLC; P&C and surplus-lines identifiers. Accessed 2026-09-21.
11
Licenses and Carriers. Coalition; Licenses and Carriers, re-read 22 September 2026: Insurance Licenses table for Coalition Insurance Solutions, Inc., national producer number 18419475, with producer and surplus-lines numbers for all 50 states and DC including California 0L76155, Georgia 196479, Texas 2199630 and 2205589, Pennsylvania 815731 and 817452, Colorado 539028 and Wisconsin 3000108852. Insurance Carriers table naming, with NAIC numbers, Allianz Underwriters Insurance Company 36420, Arch Specialty Insurance Company 21199, Ascot Specialty Insurance Company 45055, Ascot Insurance Company 23752, Aspen Specialty Insurance Company 10717, Chaucer Insurance Company DAC, Coalition Insurance Company 29530, Fireman's Fund Indemnity Corporation 11380, Fortegra Specialty Insurance Company 16823, Lloyd's of London, MSIG Specialty Insurance USA Inc. 34886, MS Transverse Specialty Insurance Company 41807, Steadfast Insurance Company 26387, Vantage Risk Specialty Insurance Company 16275 and Zurich American Insurance Company 16535. Accessed 2026-09-22.
12
Insurance Producer Licenses. Corgi Insurance; Current complete Insurance Producer Licenses table for Corgi Insurance Services, Inc.; 50 rows covering 49 states and DC (DC 3003091619); no New Mexico row; no NPN or as-of date shown. Accessed 2026-09-28.
13
About Hiscox US Insurance. Hiscox; Hiscox Insurance Company Inc. NAIC 10200 as Chicago, IL domiciled insurer admitted or licensed in all 50 states and D.C.; Hiscox Inc. as general agent and Lloyd’s coverholder for Syndicates 33 and 3624; surplus-lines placements through licensed surplus-lines brokers; A.M. Best rating statement. Accessed 2026-09-16.
14
Licenses. ERGO NEXT Insurance; Current entity-by-state license table reopened 28 September 2026: 50 rows under Next First Insurance Agency, Inc., including Washington, DC; New York rows instead list Next Insurance Services PC-1423070 and AP Intego BR-1198885. Accessed 2026-09-28.
15
About Risklytics. Risklytics; What we do; Who we insure; Licensing; Agency licenses table dated 2026-09-10. Accessed 2026-09-16.
16
Insurance Licenses by State. TechInsurance; Current state table; identifies TechInsurance as a division of Specialty Program Group LLC d/b/a SPG Insurance Solutions; lists DC 3000041536 and labels Rhode Island “Individual licenses,” without an agency license number. Accessed 2026-09-28.
17
Licenses. Vouch; Effective 16 January 2025: Vouch Specialty Insurance Services, LLC, NPN 19926463; P&C table (50 states and DC); surplus-lines table includes Idaho 870820; footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses; Idaho retained as producer-only due to conflict. Accessed 2026-09-15.