The Lockton Private Equity Practice Group (PEP) is our Partner-led initiative, which brings the best of our global expertise across all coverage lines into one solution, whether it be for your corporate lines, consultancy needs, personal protection or to protect your portfolio assets the Lockton Private Equity Practice Insurance team will help.

— PRODUCTS AND SERVICES

Private Equity Practice

Get in touch (opens a new window)

Your trusted partner at every stage of your fund’s lifecycle.

Lockton’s Private Equity Practice (PEP) provides made-to-measure, reliable risk transfer and insurance solutions for businesses in the private equity sector. Our team is made up of recognised industry leaders with decades of experience in the private equity insurance sector, making us uniquely placed to meet your specific needs.

We bring together lawyers, ex-underwriters and risk managers, who each have an in-depth understanding of the unique risks facing firms in your industry. Our engagement across each Lockton business unit is seamless; we work as one team, taking a holistic approach to assessing your particular risks.

Lockton’s flat structure means that our clients benefit from a ‘hands-on’ approach from our most senior people. We’re driven by your firm’s needs and strategic direction, not by the renewal cycle. Both our client and Associate retention rate is the highest in the industry, which translates to service continuity and a lasting understanding of your business.

What we bring to your business

  • Exceptional service

Lockton has a client retention rate of 98%, thanks to our exceptional standards of service and our commitment to meeting your changing needs

  • Full transparency

We provide open and honest advice and are fully transparent about fees, so you know exactly what you are paying for at every stage

  • Efficient claims

We understand the importance of a fast and proficient claims service and haveour own in-house dedicated claims team for both real estate and construction claims, to assist every step of the way

  • Value assured

We negotiate the broadest terms at the most competitive rates – our policy wording goes beyond those of non-specialist brokers

  • The right solution

Whether you are looking for tailored cover or risk transfer solutions, we bring the same level of scrutiny, knowledge and enthusiasm to every client, making sure we understand every aspect of your needs and aspirations

Our Services

Our Services

Our Private Equity Practice Insurance team

Placeholder image

Neo Combarro

Partner – Head of Private Equity Practice and Transactional Risk
neo.combarro@lockton.com
+44 207 933 2123

Placeholder image

Freddy Drummond-Brady

Vice President – Private Equity Practice
freddy.drummond-brady@lockton.com
+44 207 933 1564

Placeholder image

Paul Volley

Vice President – Private Equity Practice
paul.volley@lockton.com
+44 207 933 1717

Placeholder image

Kevin Stout

Partner - Head of Due Diligence
kevin.stout@lockton.com
+44 161 828 3305

Placeholder image

Celina Lighton

Assistant Vice President – Transactional Risks
celina.lighton@lockton.com
+44 207 933 2849

General Inquiries

Get in touch

PEP@lockton.com

News and Insights

Sewers in cities across the globe are struggling to cope with the rapidly changing climate. In July 2023, New York suffered some of the most intense rainfall in its history, while in 2021, London was hit with two flash floods just two weeks apart which cost insurers tens of millions of pounds in claims. As more frequent storms overload old, often poorly maintained drainage systems, basement properties are under increasing threat. Managing against basement flooding in urban areas

Managing against basement flooding in urban areas

article
Sewers in cities across the globe are struggling to cope with the rapidly changing climate. In July 2023, New York suffered some of the most intense rainfall in its history, while in 2021, London was hit with two flash floods just two weeks apart which cost in ...
Read moreManaging against basement flooding in urban areas

Mitigating the fire risk from charging electric vehicles

The demand for electric vehicles (EVs) continues to grow for both private and commercial users. As such, there is an increasing need to provide additional infrastructure to enable convenient, rapid, and safe charging of EVs for staff and the public. Recent experience has demonstrated fires involving EVs can burn for an extended period of time and present significant challenges when attempting final extinguishment. Property protection principles should be considered in the design and location of EV charging points to help limit the effects of fire to property, business, and environment. The demand for electric vehicles (EVs) continues to grow for both private and commercial users. As such, there is an increasing need to provide additional infrastructure to enable convenient, rapid, and safe charging of EVs for staff and the public. Recent experience has demonstrated fires involving EVs can burn for an extended period of time and present significant challenges when attempting final extinguishment. Property protection principles should be considered in the design and location of EV charging points to help limit the effects of fire to property, business, and environment.

Commercial property: preparing for increased squatters risk

Colder winter months can increase the likelihood of properties being occupied by squatters. Although the practice has been illegal in residential properties since 2012, commercial properties remain exposed. Squatting can lead to significant financial consequences for landlords and property owners, including higher insurance costs, or an inability to secure cover. By taking steps to prevent squatters gaining access to properties, owners and landlords can keep their assets safe, and reassure insurers as to their exposure. Colder winter months can increase the likelihood of properties being occupied by squatters. Although the practice has been illegal in residential properties since 2012, commercial properties remain exposed. Squatting can lead to significant financial consequences for landlords and property owners, including higher insurance costs, or an inability to secure cover. By taking steps to prevent squatters gaining access to properties, owners and landlords can keep their assets safe, and reassure insurers as to their exposure.

Lockton appoints Clarissa Franks to lead UK P&C Retail business

Lockton, the world’s largest independent insurance broker, today announced the appointment of Clarissa Franks as Head of UK P&C Retail. Clarissa will report into the European CEO, EJ Hentenaar, and work with Tony Hardy, Head of UK P&C, to transfer over the Retail area of his responsibilities, ensuring a seamless succession for clients. Clarissa will play a key role in Lockton UK’S continued growth, reinforcing its solutions led approach for clients, and will be responsible for accelerating the expansion of the UK Retail Division when she takes up her new role in November. Lockton, the world’s largest independent insurance broker, today announced the appointment of Clarissa Franks as Head of UK P&C Retail. Clarissa will report into the European CEO, EJ Hentenaar, and work with Tony Hardy, Head of UK P&C, to transfer over the Retail area of his responsibilities, ensuring a seamless succession for clients. Clarissa will play a key role in Lockton UK’S continued growth, reinforcing its solutions led approach for clients, and will be responsible for accelerating the expansion of the UK Retail Division when she takes up her new role in November.
See all news and insights

We're here to help

We bring creative thinking and an entrepreneurial spirit to the insurance business and are uniquely positioned to help you succeed.

Talk to our team

Private Equity Practice FAQs

Risks encountered in the private equity sector are extremely broad and are constantly evolving. The types of risks faced, are usually felt across the whole investment lifecycle, and can include:

  • Operational and compliance risk

  • Cyber, technology and intellectual property risk

  • Transactional risk during the investment/divestment process

  • Key person risk

  • Environmental, social and governance (ESG) risk and associated pressure from investors

  • Geopolitical risks

Private Equity (PE) insurance is a great way to compliment other long-term risk mitigation strategies. PE firms should look to optimise this approach, and do their due diligence to contain costs, preserve liquidity, and protect their investment portfolio. At Lockton, we tailor your insurance program to best suit your firm’s aims and objectives, as private equity insurance is not a ‘one size fits all’ solution. We work in partnership with our clients to understand their exposures, so we can engineer a programme that mitigates risk and provides solutions with the right level of protection for both the GP and their portfolio companies.

Private equity firms should be considering the following types of insurances among others:

  • Professional Indemnity (PI)

  • Directors and Officers Liability (D&O)

  • Cyber Liability

  • Theft/Crime

  • Insurance Due Diligence

  • Warranties and Indemnity (W&I)

  • Contingent Liability

  • Employee Benefits

  • Portfolio company solutions

A comprehensive insurance programme can be a key factor for private equity firms in achieving financial success. This includes everything from fundraising, origination & acquisition, to portfolio management and divestiture strategy.

For example:

Strategy and fund raising: Comprehensive GP liability coverage can protect the funds and investment professionals from inherent risks.

Deal sourcing & investment: Insurance due diligence can identify issues early and transactional risk insurance can facilitate deals.

Portfolio management and value creation: Sector specific expertise can ensure that investments remain protected, and that the private equity firm is appropriately insulated.

Divestiture strategy: Vendor due diligence can uncover potential risks, transactional risk insurance can expediate and simplify a sale, and contingency solutions can remove liquidity issues.

The high-level requirements for a venture capital firm are the same to that of a private equity firm. However, there are some fundamental differences given the nature of the investments venture capital (VC) firms make. VC firms will often make minority investments and forgo board positions which reduce the decision-making capacity around risk management at the portfolio level. This can often be seen as a reduced risk however a comprehensive insurance programme at VC firm level is important to ensure the fund is protected.

Portfolio company insurance covers a wide range of policies which will vary from sector to sector. Lockton’s global capability and sector specific expertise are well placed to offer expert insurance and risk management advice whatever the portfolio company focuses on.

Lockton’s Private Equity Practice’s mission is to become a trusted partner at every stage of your fund’s lifecycle. Our team includes acknowledged insurance experts and recognised leaders in the private equity industry. We bring together insurance advisors, lawyers, ex-underwriters and risk managers, harnessing our global expertise across all key insurance lines to help Private Equity firms successfully de-risk their businesses.

Our global footprint enables us to service our client’s wherever they need including arranging local policies when required by a local regulator or jurisdiction, so you only have to deal with one broker.