RLI Insurance Co.’s Executive Products Group has created a new Representations and Warranties Liability Insurance policy.
RLI’s new Representations and Warranties Liability policy offers protection to buyers and sellers involved in corporate mergers and acquisitions from financial losses due to unanticipated liabilities encountered during the purchase and sale process. The policy is a single, hybrid buy-side/sell-side form that helps mitigate the risks associated with inaccuracies or breaches in contractual representations or warranties.
RLI Insurance Company President & COO, Michael J. Stone said the coverage is designed to meet the needs of the executive suite and protect them from risks they may encounter in today’s business environment.
RLI is offering Representations and Warranties coverage on a primary and excess basis to insureds that are publicly traded, privately held, or nonprofit. Primary coverage is available on any size transaction with a special emphasis on transactions valued at $50 million or less with limits up to $10 million. Excess coverage is available with limits up to $25 million.
RLI Corp. is a specialty insurer serving niche property, casualty and surety markets.
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