Mergers & Acquisitions

• Warranty & indemnity (W&I)  Insurance 

Tailored for buyers or sellers, this coverage addresses breaches of warranties under share purchase agreements or management warranty deeds, including losses tied to general tax covenants. 

• Representation & Warranties (R&W) Insurance,

The US equivalent of W&I – ideal for clients operating under acquisition agreements that reference representations, including pre-closing tax indemnities. 

• Contingent Risk Insurance

Designed for transactions with specific identified risks – this policy ring-fences known contingent liabilities, giving both sides clarity and certainty. 

• Tax Risk Insurance

Designed for transactions with specific identified tax risks – this policy ring-fences known tax liabilities, giving both sides clarity and certainty. 

A Global, Specialist Team 

One of the specialisms of our London-based underwriters is R&W policies for US and international clients on deals in many different jurisdictions. We operate globally, tailoring coverage to  

• Jurisdictional nuances – whether UK, US, EMEA, or APAC, including emerging markets 
• Transaction specifics – sector, size, structure 
• Deal Timelines – ensuring fast, responsive solutions

Case Study 1:  

An Indian renewable energy company discovered post-closing that regulatory requirements were not being met. Beazley made a seven-figure payment to cover the installation of new equipment and committed to reimbursing the insured for additional costs once further infrastructure work is complete.

Case Study 2: 

The insured Buyer discovered a number of unforeseen problems at the technology solutions provider that it acquired. These issues included both first party losses, such as the discovery of overstated revenue stemming from uncollectible receivables and a cyber security breach, as well as third-party actions brought by tax authorities and the U.S. Equal Employment Opportunity Commission. Beazley’s claims manager worked with the insured to collectively resolve all of the pending matters, such that the Buyer ended up in the same position as if the Seller’s representations and warranties had been accurate. The amount paid by Beazley to the insured included the application of a multiple for the financial statements breach and recognition of loss for the third-party claims. 

Case Study 3: 

Beazley resolved a claim arising out of unaccrued shipping costs. We were able to quicky acknowledge a breach by the sellers in failing to disclose that liability. We then worked collaboratively with the insured and its advisors to determine how much less the target was worth than the purchase price. This process culminated in Beazley paying loss on the basis of an EBITDA multiple. Post-claim, we received very positive feedback from the broker about our process.