QBE North America has introduced new transactional liability practice, in a bid to expand its specialty insurance lines business.
Under the new liability practice, the company will underwrite two new products, including Representations & Warranties Insurance (R&W) and Tax Liability Insurance on a primary and an excess basis.
QBE North America senior vice-president and underwriting counsel Dennis Kearns will take care of the new products, which will offer financial loss protection to directors, officers and their companies for potential legal liabilities from a merger or acquisition transaction.
Kearns said: "Transactional Liability is a natural add-on to our existing Management Liability & Professional Lines product suite.
"It positions QBE North America as a full-service provider throughout the entire lifecycle of an enterprise."
QBE noted that the new transactional liability practice will provide underwriting solutions addressing the risks and exposures facing buyers and sellers arising from their merger and acquisition (M&A) activities.
The new products are part of the QBE Specialty product suite in the management liability (directors & officers liability) and professional lines (errors & omissions) classes for private and public companies.
QBE Specialty also provides product solutions for aviation, accident and health, trade credit, healthcare, financial institutions, media liability, professional firms and technology customers, in addition to management liability and professional lines.
Australia-based QBE is one of the top 20 insurers and reinsurers across the globe, and operates in around 38 countries.
Image: QBE North America has launched new transactional liability practice. Photo: courtesy of Stuart Miles/ FreeDigitalPhotos.net.