October 24, 2024
We represented a large innovation and engineering consulting firm in its pursuit of insurance coverage under a representation and warranty insurance policy, a relatively new product on the insurance market. Representation and warranty coverage protects buyers in a merger from loss due to breaches of a seller’s representations and warranties in a merger agreement. In this matter, according to the broker, the claim was among the largest that had been made against a representation and warranty policy. We promptly reached a favorable settlement with the lowest level insurers and subsequently coordinated with underlying counsel to secure favorable resolutions with the remaining insurers.