Private equity investors face unique challenges when procuring or renewing their liability insurance programs. For example, investors typically must complete lengthy applications or sign warranty and representation letters from their prospective insurers that inquire into knowledge by any potential insured as to any acts or omissions that could potentially give rise to a claim. These overbroad and often vague inquiries are problematic for private equity investors who would theoretically have to interview every employee, manager, or director at every subsidiary, fund, and portfolio company (if insureds) to discern whether any person has knowledge of such an act or omission.