What Venture Capital Asset Protection Insurance Requirements Apply in New York?

New York administers its own investment-adviser regulatory requirements through the state securities framework. Verify whether the adviser’s activity requires state registration or a state-specific exemption. 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 New York

Check the State Adviser Filing
New York administers its own investment-adviser regulatory requirements through the state securities framework. Verify whether the adviser’s activity requires state registration or a state-specific exemption. 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
If the manager has New York advisory operations, confirm its state filing status and identify each advisory entity in the VCAP application. 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
Identify the New York advisory entity and state filing status in the application. 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 New York 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 New York?

New York State Department of Financial Services

New York DFS supervises insurance companies and producers, administers insurance law and accepts consumer complaints about property and casualty policies, including commercial insurance. ^4,^5,^6,⁷

Website: Regulator website
License lookup: Search licensed producers
Complaints: File a complaint
Phone: 800-342-3736

Surplus-Lines Tax and Stamping Office in New York

Reported tax rate. 3.6% of gross premium, less returned premium; ELANY stamping fee is 0.15% through 2026 and 0.17% for policies incepting on/after Jan. 1, 2027 ^8,^9,^10,¹¹

When New York is the insured’s home state, excess-line tax is 3.6% of gross premium less returned premium. ELANY’s September 20, 2026 bulletin sets a 0.15% stamping fee through December 31, 2026 and 0.17% for policies incepting on or after January 1, 2027; statutory search requirements and guaranty-fund protection depend on the applicable New York excess-line rules.

Excess Line Association of New York

Questions to Ask Before You Buy Venture Capital Asset Protection in New York

Which adviser, management company, general partner and funds does this proposal insure by name?
Does the policy include outside-director protection for partners serving on portfolio-company boards?
Are limited-partner allegations about fund disclosures or governance within the covered professional services?

Venture Capital Asset Protection Insurance in New York: FAQ

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

No. The SEC describes an exemption from federal registration for advisers solely to venture-capital funds, while state adviser rules remain a separate question. New York administers its own investment-adviser regulatory requirements through the state securities framework. Verify whether the adviser’s activity requires state registration or a state-specific exemption. Check the applicable state filing status for the adviser and its representatives. ^1,²

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

The state adviser-registration summary says: New York administers its own investment-adviser regulatory requirements through the state securities framework. Verify whether the adviser’s activity requires state registration or a state-specific exemption. 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 New York include in its VCAP application?

Include the fund, GP, adviser and management company, plus partners’ portfolio-company board roles. If the manager has New York advisory operations, confirm its state filing status and identify each advisory entity in the VCAP application. 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 New York

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
New York Investment Adviser Registration Information. North American Securities Administrators Association; State investment adviser registration requirements and regulator reference. Accessed 2026-09-28.
3
New York Legal Materials. Legal Information Institute, Cornell Law School; Constitution and Legislation; official state statutes portal. Accessed 2026-09-28.
4
New York State Department of Financial Services. New York State Department of Financial Services; Official regulator homepage. Accessed 2026-09-28.
5
Who We Supervise. New York State Department of Financial Services; DFS describes insurance oversight and provides links to company and producer searches. Accessed 2026-09-28.
6
Insurance License Search. New York State Department of Financial Services; DFS portal performs public insurance producer license searches; it displays a CAPTCHA to limit automated access. Accessed 2026-09-28.
7
Consumer Complaints. New York State Department of Financial Services; Official portal files insurance complaints for health, life and property/casualty insurance. Accessed 2026-09-28.
8
New York Insurance Law §2118(d)(1). New York State Senate; Current statutory text: 3.6% of gross premiums less returned premium when New York is the insured’s home state. Accessed 2026-09-28.
9
ELANY Bulletin 2026-20: Notice of Change in Stamping Fee. Excess Line Association of New York; September 20, 2026 bulletin: 0.17% applies to policies incepting from Jan. 1, 2027; endorsements on policies incepting Jan. 1, 2023–Dec. 31, 2026 retain 0.15%; excess-line tax remains 3.6%. Accessed 2026-09-28.
10
New York Insurance Law §2118. New York State Senate; Excess-line broker duties and filing requirements; §2118(a) due care; exceptions should be applied only where statutory conditions are met. Accessed 2026-09-28.
11
New York Insurance Law §2118. New York State Senate; Excess-line statutory duties and policies; source is used for placement context. No state-specific guaranty cap/note included. Accessed 2026-09-28.
12
Licenses. At-Bay; Current producer introduction and state table; At-Bay Insurance Services LLC; P&C and surplus-lines identifiers. Accessed 2026-09-21.
13
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.
14
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.
15
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.
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.