QBE North America is launching a new transactional liability practice designed for clients involved in mergers and acquisitions. The initiative reflects its latest expansion into other specialty insurance lines.
Dennis Kearns, QBE senior vice president and underwriting counsel, will lead the practice.
Initially, QBE’s transactional liability arm will underwrite two new products – Representations & Warranties Insurance and Tax Liability Insurance. Both will be on a primary and an excess basis.
Both are designed for directors, officers and their companies. They provide financial loss protection stemming from potential legal issues involving an M&A transaction. QBE said that its transactional liability practice, over time, will develop tailored underwriting products addressing M&A-related risks and exposures for buyers and sellers involved in mergers and acquisitions.
The new coverages add to what QBE Specialty already offers in management liability (directors & officers liability) and professional lines (errors & omissions) classes for private and public companies.
QBE specialty also covers areas including aviation, accident & health, trade credit, healthcare, financial institutions, media liability, professional firms and technology.
Source: QBE North America