Reps & Warranties Insurance (Transactional Insurance)

Reps & Warranties Insurance is designed to guarantee certain contractual obligations in a purchase agreement called representations and warranties (reps & warranties).  The coverage is used to reduce the risk of inaccuracies in representations and warranties made by the seller, but can benefit the buyer as well.  Both parties to a transaction benefit from a third party guarantee, rather than just the seller’s guarantee.  In addition, the use of insurance may also allow for an increase in the level of the guarantee.  The coverage is customized to each transaction and is specific to the characteristics of the exposures and the needs of the buyer and seller.  Coverage can be provided for other types of exposures emanating from a sale as well.

Putting together a reps & warranty proposal is time consuming and requires significant information.  In order to get an underwriter comfortable with the exposures,

Underwriters will need to review all aspects of the exposure and the transaction, including the representations and warranties, in order to be able to design the coverage and price the risk – considerable documentation. 

What do we need?  A thorough submission is necessary to get the job done.  We would recommend a conversation with a Tennant broker prior to starting the process.  The submission should include a clear description of the activities of the seller, details on the contemplated transaction and detailed loss history.

Tennant Risk Services provides a wide range of markets for all types of specialty, unique and hard to place accounts.  Our goal is to provide the best combination of product, price and service to you.  We will handle your accounts knowledgeably and efficiently, in turn saving you valuable time and money.  Please let us know if we can be helpful in any way.

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Tennant Risk Services
124 LaSalle Road
West Hartford, CT 06107
Phone: (860) 519-1301
Fax: (860) 216-5845
E-Mail: info@tennant.com

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