The International Underwriting Association (IUA), representing London-based international and wholesale insurance and reinsurance firms, has launched a dedicated forum focused on warranty and indemnity insurance. This type of insurance plays a critical role in mergers and acquisitions by mitigating potential losses arising from contractual warranties.
Known as the Transactional Liability Committee, the newly formed group consists of senior underwriting experts from IUA member companies specializing in this field. The committee recently convened its inaugural meeting, drawing participation from representatives of 20 diverse firms.
Chris Jones, IUA’s Director of Legal, Underwriting, and Claims, emphasized the growth of the warranty and indemnity sector within the London company market in recent years. He highlighted the committee’s role in providing a platform for networking, sharing best practices, conducting research projects, and advocating for member interests. Key topics under consideration include standardization of non-disclosure agreements, best practices for complying with Know Your Customer rules, and analysis of thematic loss trends.
Angus Marshall, Head of Transaction Liability at CFC, assumes the role of committee chair, supported by Calum McPherson, Head of Financial and Transactional at Axis Capital, as Deputy Chair.
The establishment of this forum underscores London’s pivotal role in the global insurance landscape, fostering collaboration and innovation in specialty insurance markets critical to corporate transactions.
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