RLI Insurance announced that the RLI 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.
"The new Representations and Warranties Liability policy is designed to meet the unique needs of the executive suite and protect them from risks they may encounter in today’s dynamic and complex business environment," said RLI Insurance Company President & COO, Michael J. Stone.
"RLI offers executives comprehensive protection and peace of mind with best-in-class coverage, extensive underwriting expertise and superior claim service."
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 is a specialty insurer serving diverse, niche property, casualty and surety markets. The company provides deep underwriting expertise and superior service to commercial and personal lines customers nationwide.