A limited partnership's general partners are the people and/or companies responsible for managing and running the partnership's operation. They can be sued for mismanagement, negligence, or waste of partnership assets. However, the greatest concern to general partners is probably the sizeable lawsuits brought against them by limited partners (investors) that allege violation of federal security statutes and "Blue Sky" laws. Limited partnership liability coverage insures general partners, both individual and company, the directors and officers of company general partners, and limited partners for alleged wrongful acts. It can be extended to include as insureds the affiliates of general partners and syndicators. The policy covers violations of federal security statutes and "Blue Sky" laws. Any form of new or existing private or public limited partnership is eligible for coverage.