The new primary W&I insurance policy is available to UK domiciled companies

ACE Bermuda International (ACE), a subsidiary of ACE Bermuda Insurance, has launched a new primary Warranty and Indemnity (W&I) insurance policy. It is designed to offer protection against financial losses arising from breaches of warranties and/or indemnities contained within a sale and purchase agreement.

The company stated that the W&I policy is available to both buyers and sellers to insure liability or loss, with respect to the breach of a wide range of warranties. It includes those relating to ownership, intellectual property, audited accounts, contracts, employee matters, compliance and litigation.

According to ACE, its policy also covers liabilities arising from an associated tax deed.

Anup Seth, Managing Director, ACE Bermuda International, said: “We offer a valuable combination of highly experienced underwriting, quality service, substantial capacity and financial strength ratings of A+ from both S&P and AM Best. These are critical factors in providing peace of mind for our clients in this ‘long tail’ class of business where policy periods can be up to six years or more.”

The new primary W&I insurance policy is available to UK domiciled companies and can be tailored for large, complex acquisitions or for smaller transactions, said the company.