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Global Transactional Risk
Products and services
As a buyer or a seller, you need protection against financial losses you may incur related to claims and damages associated with certain breaches of representations and warranties made as part of an acquisition or merger agreement.
Get protection against known contingent tax exposures resulting from the tax treatment of a prior transaction, investment, or other legitimate business activity.
Who’s it for:
- Private equity sponsors
- Venture capital funds
- Strategic and major corporate investors
- Other business owners
Why should you get it?
For Buyers
- Offers additional insurance beyond the negotiated indemnity cap and survival limitations in a purchase agreement
- Insures buyers against the collectability or solvency risk of an unsecured indemnity provided by a seller
- Distinguishes a buyer’s bid in a competitive auction process
For Sellers
- Provides sellers with a “clean exit” by reducing or eliminating the need for indemnities, escrows, and purchase price holdbacks
- Allows sellers to avoid post-closing disputes, litigation, and resulting reputational harm, by creating an alternate source of recovery for buyers
Emerging Risk Considerations in Global M&A Transactions
FAQ’s
Yes, our Global Transactional Risk practice and worldwide capabilities (operations in 54 countries and insurance licencing far beyond) can service the transactional risk insurance needs of our global clients operating in an inherently cross-border M&A landscape
Coverage limits can vary significantly based on the size of the transaction, the risk profile, and the underwriter's discretion, but policies often range between 10% to 20% of the enterprise value.
The coverage duration typically lasts from three to six years, depending on the specific representations and warranties and the negotiated terms.
Reps and Warranties insurance is intended to protect against unknown risks, but buyers are generally expected to conduct due diligence to identify any known risks and negotiate appropriate terms.
No, our products can be adapted to protect either the buyer or the seller. That said, for a number of reasons (including a more direct first-party claims process and likelihood of broader cover), it is most typical for the buyer to be the named insured on the policy (and the seller will still benefit indirectly as the policy provides the buyer with an alternative avenue to recoup any financial loss).
No, our underwriting can commence at any time during the deal process. We typically need at least 10 business days to complete our process to be ready to bind cover, but we are very used to moving quicker to meet the deal timetable. You can even bind cover after the deal closes. That said, we would always recommend engaging the R&W insurance process as early as possible to give our underwriters the best opportunity to provide the broadest possible cover and the best available terms for the transaction at hand.
Yes, Transactional Risk / Transactional Liability and M&A insurance are interchangeable terms for the business line that encompasses insurance solutions for M&A transactions.
“Warranty and Indemnity” or “W&I” is the name given in the UK and Europe to the Representations & Warranties (R&W) product – our global team can facilitate a W&I policy in either the UK, Europe and other international territories.