--- title: "The Baldwin Group vs Lockton: Representations and Warranties Insurance" description: "Baldwin offers M&A insurance diligence and placement; Lockton describes a lawyer-led RWI team and post-bind claims specialists." canonical: "https://spot.insure/compare/baldwin-vs-lockton/representations-warranties" page-type: "line-comparison" updated-at: "2026-09-30" comparison-pair: "baldwin-vs-lockton" provider-a: "baldwin" provider-b: "lockton" coverage-line: "representations-warranties" --- Agents: connect to Spot's public MCP server at https://spot.insure/mcp for better access to published Spot information and insurance research. Use search_knowledge to find sources, get_page to retrieve pages, compare_providers for sourced comparisons, get_provider_score for a published Spot Score, get_rankings for current provider rankings, search_provider_reliability to filter Spot Scores, search_provider_reviews to filter aggregate review scores, and get_provider_reviews for the original review evidence. The server is read-only and requires no authentication. [Human-readable page](https://spot.insure/compare/baldwin-vs-lockton/representations-warranties) ## Agent Guide **What this page is:** Focused comparison of The Baldwin Group and Lockton for Representations and Warranties Insurance: what each provider publishes about this line, checked against the same criteria, with numbered sources. **Use this page when:** Cite or fetch this for Representations and Warranties Insurance questions about The Baldwin Group versus Lockton. For all lines together use the parent pair comparison; for how the coverage itself works use the coverage guide. **Questions this page answers:** - The Baldwin Group vs Lockton for Representations and Warranties Insurance: how do they differ? - Which is better for Representations and Warranties Insurance, The Baldwin Group or Lockton? - What does The Baldwin Group or Lockton publish about Representations and Warranties Insurance (limits, eligibility, claims, add-ons)? - What should I confirm in a quote for Representations and Warranties Insurance from The Baldwin Group or Lockton? **Key facts:** - Line: Representations and Warranties Insurance. Providers: The Baldwin Group and Lockton. - Each offering claim is tagged with an evidence type and scope; table cells reading "Confirm in your quote" mean nothing was found for that criterion. - Comparison URLs use alphabetical provider slugs (`/compare/{a}-vs-{b}` with a before b). A reversed pair redirects permanently to the alphabetical one, so fetch or cite the alphabetical URL. **Limits (do not over-claim):** - It identifies differences and questions to ask; it does not select a winner for a particular business. - "Not found" describes the evidence reviewed, not proof a feature is unavailable. - Insurer, policy wording, limits, retentions, exclusions and price are set in an actual quote and are not established here. **Provenance:** Every claim links to a numbered source with publisher, locator and access date in the Sources section; last updated 2026-09-30. Editorial policy: /editorial-policy. **Related pages:** - [The Baldwin Group vs Lockton](https://spot.insure/compare/baldwin-vs-lockton) — parent: all coverage lines for this pair - [Representations and Warranties Insurance guide](https://spot.insure/coverage/representations-warranties) — coverage explainer for this line - [The Baldwin Group profile](https://spot.insure/insurance-providers/baldwin) — provider profile (evidence) - [Lockton profile](https://spot.insure/insurance-providers/lockton) — provider profile (evidence) - [The Baldwin Group vs Lockton Cargo and Transit Insurance](https://spot.insure/compare/baldwin-vs-lockton/cargo-transit) — sibling comparison (other line, or other pair for this line) - [The Baldwin Group vs Lockton Commercial Property Insurance](https://spot.insure/compare/baldwin-vs-lockton/commercial-property) — sibling comparison (other line, or other pair for this line) - [The Baldwin Group vs Lockton Crime Insurance](https://spot.insure/compare/baldwin-vs-lockton/crime) — sibling comparison (other line, or other pair for this line) - [The Baldwin Group vs Lockton Cyber Insurance](https://spot.insure/compare/baldwin-vs-lockton/cyber) — sibling comparison (other line, or other pair for this line) - [The Baldwin Group vs Lockton Employment Practices Liability Insurance](https://spot.insure/compare/baldwin-vs-lockton/employment-practices) — sibling comparison (other line, or other pair for this line) - [The Baldwin Group vs Lockton Fiduciary Liability Insurance](https://spot.insure/compare/baldwin-vs-lockton/fiduciary) — sibling comparison (other line, or other pair for this line) - [The Baldwin Group vs Lockton General Liability Insurance](https://spot.insure/compare/baldwin-vs-lockton/general-liability) — sibling comparison (other line, or other pair for this line) - [The Baldwin Group vs Lockton Surety Bonds](https://spot.insure/compare/baldwin-vs-lockton/surety-bonds) — sibling comparison (other line, or other pair for this line) - [The Baldwin Group vs Lockton Workers’ Compensation Insurance](https://spot.insure/compare/baldwin-vs-lockton/workers-compensation) — sibling comparison (other line, or other pair for this line) - [AIG vs The Baldwin Group Representations and Warranties Insurance](https://spot.insure/compare/aig-vs-baldwin/representations-warranties) — sibling comparison (other line, or other pair for this line) - [The Baldwin Group vs Beazley Representations and Warranties Insurance](https://spot.insure/compare/baldwin-vs-beazley/representations-warranties) — sibling comparison (other line, or other pair for this line) - [The Baldwin Group vs Berkshire Hathaway Specialty Insurance Representations and Warranties Insurance](https://spot.insure/compare/baldwin-vs-berkshire-hathaway-specialty-insurance/representations-warranties) — sibling comparison (other line, or other pair for this line) - [The Baldwin Group vs CFC Representations and Warranties Insurance](https://spot.insure/compare/baldwin-vs-cfc/representations-warranties) — sibling comparison (other line, or other pair for this line) - [The Baldwin Group vs Chubb Representations and Warranties Insurance](https://spot.insure/compare/baldwin-vs-chubb/representations-warranties) — sibling comparison (other line, or other pair for this line) - [The Baldwin Group vs Corgi Representations and Warranties Insurance](https://spot.insure/compare/baldwin-vs-corgi/representations-warranties) — sibling comparison (other line, or other pair for this line) # The Baldwin Group vs Lockton: How Do They Compare for Representations and Warranties Insurance? Baldwin offers M&A insurance diligence and placement; Lockton describes a lawyer-led RWI team and post-bind claims specialists. ## Research Scope and Use Use this comparison to evaluate The Baldwin Group and Lockton for Representations and Warranties Insurance against the same documented criteria. It identifies differences and questions to confirm; it does not select a winner for a particular business. Offering claims are what each provider publishes about this line unless marked otherwise. “Not found” describes the evidence reviewed, not proof that a feature is unavailable. Confirm the insurer, policy wording, limits, retentions, exclusions and cost in an actual quote. ## Summary Lockton identifies a Partner/Associate deal model and transaction-liability claims experts; Baldwin describes diligence, placement and advocacy. [3](https://baldwin.com/business-insurance/solutions/private-equity/ "M&A, Private Equity & VC Risk Management") [7](https://global.lockton.com/us/en/products-services/representation-warranties-insurance "Representations & Warranties Insurance | Lockton USA") ## What Is the Baldwin Group? Baldwin’s Insurance Advisory Solutions group describes commercial-risk and employee-benefit services for businesses and private-risk management for high-net-worth individuals and families; its business-insurance page outlines a five-step RiskMap process. [1](https://www.sec.gov/Archives/edgar/data/1781755/000178175526000018/bwin-20251231.htm "The Baldwin Insurance Group, Inc. Form 10-K for fiscal year ended December 31, 2025") [2](https://baldwin.com/business-insurance/ "Business Insurance") [The Baldwin Group profile](https://spot.insure/insurance-providers/baldwin) ## What Is Lockton? Lockton suits technology companies and larger businesses seeking a broker across cyber, D&O, property, liability and benefits; small firms wanting an instant standard quote should compare digital agencies. [4](https://global.lockton.com/us/en "Lockton United States") [5](https://global.lockton.com/us/en/technology "Technology") [6](https://global.lockton.com/us/en/terms-of-business "US Terms of Business") [Lockton profile](https://spot.insure/insurance-providers/lockton) ## What Is Representations and Warranties Insurance? Representations and warranties insurance can cover a buyer’s or seller’s loss from inaccurate statements in a stock or asset purchase agreement. For a business sale, check who is insured, who can recover and how known issues are treated. [8](https://www.cfc.com/en-us/products/class/transaction-liability/ "Transaction liability insurance | Representation and indemnities insurance") [9](https://www.beazley.com/en-us/products/executive-risk-usa/mergers-acquisitions "Mergers & Acquisitions") [10](https://www.coverdash.com/coverage/transactional-risk "Transactional Risk Insurance") ## Key Differences in Representations and Warranties Insurance ### Deal-team staffing and policy purpose Baldwin describes transaction-risk advice, insurance diligence and placement for M&A clients. Lockton says former M&A lawyers and transaction advisers staff its RWI practice in a Partner/Associate model on every deal, with 24-hour coverage. It frames the policy as replacing or supplementing seller indemnity or escrow for unknown breaches. Deal teams can compare Lockton’s explicit staffing model with Baldwin’s broader advisory scope. [3](https://baldwin.com/business-insurance/solutions/private-equity/ "M&A, Private Equity & VC Risk Management") [7](https://global.lockton.com/us/en/products-services/representation-warranties-insurance "Representations & Warranties Insurance | Lockton USA") ### Who helps after binding Lockton identifies dedicated transaction-liability claims experts after binding and reports helping clients settle hundreds of millions of dollars of RWI claims. Baldwin lists claims advocacy without comparable team structure or figures. The practical question is who handles a notice after closing, whether those advisers remain on the account and what service is included when a claim is disputed. [3](https://baldwin.com/business-insurance/solutions/private-equity/ "M&A, Private Equity & VC Risk Management") [7](https://global.lockton.com/us/en/products-services/representation-warranties-insurance "Representations & Warranties Insurance | Lockton USA") ## What to Confirm in Representations and Warranties Insurance Quotes - Ask Lockton who remains on the account after binding and how claims are escalated. [3](https://baldwin.com/business-insurance/solutions/private-equity/ "M&A, Private Equity & VC Risk Management") [7](https://global.lockton.com/us/en/products-services/representation-warranties-insurance "Representations & Warranties Insurance | Lockton USA") - Ask Baldwin what claims advocacy includes and whether deal advisers stay involved post-close. [3](https://baldwin.com/business-insurance/solutions/private-equity/ "M&A, Private Equity & VC Risk Management") [7](https://global.lockton.com/us/en/products-services/representation-warranties-insurance "Representations & Warranties Insurance | Lockton USA") ## Offering Details | Criteria | Baldwin Representations and Warranties Transaction Advisory | Lockton Representations & Warranties Insurance (RWI) | | --- | --- | --- | | Role in This Line | The source describes The Baldwin Group’s brokerage or advisory role for Representations and Warranties Transaction Advisory. It does not identify Baldwin as the risk-bearing insurer for a particular placement. [3](https://baldwin.com/business-insurance/solutions/private-equity/ "M&A, Private Equity & VC Risk Management") (Evidence: Company-reported; scope: The cited company page describes its brokerage/advisory role and does not name the issuer for a buyer-specific placement..) | Lockton's RWI Practice is staffed with former M&A lawyers and transaction advisors who Lockton says use a Partner/Associate model on every deal to provide 24/7 coverage; Lockton places RWI policies rather than underwriting them. [7](https://global.lockton.com/us/en/products-services/representation-warranties-insurance "Representations & Warranties Insurance | Lockton USA") (Evidence: Company-reported; scope: RWI product page as read 2026-09-23..) | | Issuing Insurer | Confirm in your quote. | The RWI page does not name the insurers underwriting the representations and warranties policies Lockton places. [7](https://global.lockton.com/us/en/products-services/representation-warranties-insurance "Representations & Warranties Insurance | Lockton USA") (Evidence: Not publicly disclosed; scope: RWI page checked 2026-09-23..) | | Who It’s For | Baldwin describes its M&A practice as advising financial sponsors and portfolio companies involved in mergers and acquisitions. This scope does not determine transaction eligibility. [3](https://baldwin.com/business-insurance/solutions/private-equity/ "M&A, Private Equity & VC Risk Management") (Evidence: Company-reported; scope: This is the audience or client context named on Baldwin’s page, not an underwriting decision or guarantee of product availability..) | Lockton frames RWI benefits separately for sellers (faster access to sale proceeds, reduced post-closing exposure, avoiding a guarantee) and buyers (broader protection, faster negotiation, avoiding conflicts in deals with meaningful seller participation), meaning both sides of an M&A transaction are the intended buyers of the product. [7](https://global.lockton.com/us/en/products-services/representation-warranties-insurance "Representations & Warranties Insurance | Lockton USA") (Evidence: Company-reported; scope: RWI product page as read 2026-09-23..) | | Coverage Features | Baldwin lists representations and warranties insurance among transactional-risk products its M&A team can negotiate and place. It does not publish policy wording, covered breach, exclusions or limit terms. [3](https://baldwin.com/business-insurance/solutions/private-equity/ "M&A, Private Equity & VC Risk Management") (Evidence: Company-reported; scope: The statement reports Baldwin’s marketed coverage or advisory description only. No individual quote, binder, policy form, schedule or endorsement was reviewed; policy entitlement and terms remain unknown..) | Lockton describes RWI as a policy used to replace or bolster a seller indemnity or escrow in an M&A transaction, under which an insurer indemnifies the buyer for losses from an unknown breach of a representation or warranty in the deal agreement. [7](https://global.lockton.com/us/en/products-services/representation-warranties-insurance "Representations & Warranties Insurance | Lockton USA") (Evidence: Company-reported; scope: RWI product page as read 2026-09-23. General description of how the product functions, not a specimen policy..) | | Limits and Retentions | The reviewed source does not state a buyer-specific limit, retention, deductible or coverage schedule. Confirm the quote and issued policy or bond. [3](https://baldwin.com/business-insurance/solutions/private-equity/ "M&A, Private Equity & VC Risk Management") (Evidence: Not publicly disclosed; scope: No buyer quote, binder, policy or bond form was available in the reviewed public sources..) | Confirm in your quote. | | Risk Services | Baldwin describes transaction-risk advice, insurance due diligence, policy placement, portfolio programs and claims advocacy for M&A clients. [3](https://baldwin.com/business-insurance/solutions/private-equity/ "M&A, Private Equity & VC Risk Management") (Evidence: Company-reported; scope: These are company-described brokerage and risk-advisory services; account-specific service commitments and third-party terms are not established..) | Confirm in your quote. | | Claims Support | Confirm in your quote. | Lockton says it provides dedicated transaction liability claims experts after a policy is bound, and cites having helped clients settle hundreds of millions of dollars of RWI claims to date. [7](https://global.lockton.com/us/en/products-services/representation-warranties-insurance "Representations & Warranties Insurance | Lockton USA") (Evidence: Company-reported; scope: RWI product page as read 2026-09-23. Aggregate claims-settlement figure is company-reported and not independently verified..) | ## Full Comparison - [The Baldwin Group vs Lockton](https://spot.insure/compare/baldwin-vs-lockton): all coverage lines, business roles, service and claims. - [What Is Representations and Warranties Insurance?](https://spot.insure/coverage/representations-warranties): Representations and warranties insurance can cover loss from inaccurate statements in a business purchase agreement; known issues and purchase-price disputes require separate review. - [The Baldwin Group vs Lockton Cargo and Transit Insurance](https://spot.insure/compare/baldwin-vs-lockton/cargo-transit) - [The Baldwin Group vs Lockton Commercial Property Insurance](https://spot.insure/compare/baldwin-vs-lockton/commercial-property) - [The Baldwin Group vs Lockton Crime Insurance](https://spot.insure/compare/baldwin-vs-lockton/crime) - [The Baldwin Group vs Lockton Cyber Insurance](https://spot.insure/compare/baldwin-vs-lockton/cyber) - [The Baldwin Group vs Lockton Employment Practices Liability Insurance](https://spot.insure/compare/baldwin-vs-lockton/employment-practices) - [The Baldwin Group vs Lockton Fiduciary Liability Insurance](https://spot.insure/compare/baldwin-vs-lockton/fiduciary) - [The Baldwin Group vs Lockton General Liability Insurance](https://spot.insure/compare/baldwin-vs-lockton/general-liability) - [The Baldwin Group vs Lockton Surety Bonds](https://spot.insure/compare/baldwin-vs-lockton/surety-bonds) - [The Baldwin Group vs Lockton Workers’ Compensation Insurance](https://spot.insure/compare/baldwin-vs-lockton/workers-compensation) - [AIG vs The Baldwin Group Representations and Warranties Insurance](https://spot.insure/compare/aig-vs-baldwin/representations-warranties) - [The Baldwin Group vs Beazley Representations and Warranties Insurance](https://spot.insure/compare/baldwin-vs-beazley/representations-warranties) - [The Baldwin Group vs Berkshire Hathaway Specialty Insurance Representations and Warranties Insurance](https://spot.insure/compare/baldwin-vs-berkshire-hathaway-specialty-insurance/representations-warranties) - [The Baldwin Group vs CFC Representations and Warranties Insurance](https://spot.insure/compare/baldwin-vs-cfc/representations-warranties) - [The Baldwin Group vs Chubb Representations and Warranties Insurance](https://spot.insure/compare/baldwin-vs-chubb/representations-warranties) - [The Baldwin Group vs Corgi Representations and Warranties Insurance](https://spot.insure/compare/baldwin-vs-corgi/representations-warranties) ## Sources ### The Baldwin Group 1. [The Baldwin Insurance Group, Inc. Form 10-K for fiscal year ended December 31, 2025](https://www.sec.gov/Archives/edgar/data/1781755/000178175526000018/bwin-20251231.htm). U.S. Securities and Exchange Commission; filed by The Baldwin Insurance Group, Inc.; Part I, Item 1, “The Company,” lines 194–196; “Operating Groups,” lines 260–263; “Clients and Insurers,” lines 286–288; pp. 6–10; opened 2026-09-28.. Accessed 2026-09-28. 2. [Business Insurance](https://baldwin.com/business-insurance/). The Baldwin Group; RiskMap process, lines 40–68; Connect With Us consultation invitation, lines 182–187; accessed 2026-09-28.. Accessed 2026-09-28. 3. [M&A, Private Equity & VC Risk Management](https://baldwin.com/business-insurance/solutions/private-equity/). The Baldwin Group; Transactional-risk insurance and placement claims lines 72–80; P&C line list lines 101–116; accessed 2026-09-29.. Accessed 2026-09-30. ### Lockton 4. [Lockton United States](https://global.lockton.com/us/en). Lockton; Opening description of independent insurance brokerage for risk, benefits and retirement; Ask an Expert link to contact-us. Accessed 2026-09-16. 5. [Technology](https://global.lockton.com/us/en/technology). Lockton; Industry introduction; cyber liability heading; dedicated technology team; listed services including claims advocacy, contract review, directors and officers liability, and international program design; 24/7 service model. Accessed 2026-09-16. 6. [US Terms of Business](https://global.lockton.com/us/en/terms-of-business). Lockton; Opening entity definition; Surplus Lines; Use of a Particular Insurer; Compensation Disclosure; servicing, claims handling and renewal language in Confidentiality section; Intermediaries. Accessed 2026-09-16. 7. [Representations & Warranties Insurance | Lockton USA](https://global.lockton.com/us/en/products-services/representation-warranties-insurance). Lockton; The Certain Solution for Transactional Risk; Why clients consider RWI versus traditional indemnity; Seller/Buyer benefits; Claims. Accessed 2026-09-23. ### Representations and Warranties Insurance Guide 8. [Transaction liability insurance | Representation and indemnities insurance](https://www.cfc.com/en-us/products/class/transaction-liability/). CFC; What are representations and warranties?; Who should buy representation and warranty insurance?; Available to buyers & sellers; Limited seller security; Is transaction liability insurance available to sellers. Accessed 2026-09-16. 9. [Mergers & Acquisitions](https://www.beazley.com/en-us/products/executive-risk-usa/mergers-acquisitions). Beazley; Product overview: buyer and seller protection for inaccuracies in representations or warranties. Accessed 2026-09-16. 10. [Transactional Risk Insurance](https://www.coverdash.com/coverage/transactional-risk). Coverdash; Transactional risk insurance; representations and warranties coverage; buy-side policies; tax and contingent liability products. Accessed 2026-09-16. Updated 2026-09-30. Spot, a product of Tools for Enlightenment, publishes this research and works in the commercial insurance market. The comparison applies the same criteria to both providers. [Editorial policy](https://spot.insure/editorial-policy). To suggest a correction, [contact Spot](https://spot.insure/contact) with the page URL and supporting source. ## The Baldwin Group Reviews Review Score: not enough ratings. The reviewed public sources do not establish a representative customer rating for The Baldwin Group’s commercial advisory business. BBB pages show different legal entities: an A+ regional insurance-agency grade with zero listed reviews and complaints for The Baldwin Group Mid-Atlantic, LLC, and an A- grade plus six complaints in three years for The Baldwin Group Personal Insurance, LLC. A 2026 personal-lines complaint describes delayed refund handling. A separate National General auto review mentions a Baldwin referral but concerns insurer policy administration. None of these observations supports a group-wide or commercial rating. Reviewed 2026-09-29. [Read the sourced review](https://spot.insure/insurance-providers/baldwin/reviews). ## Lockton Reviews Review Score: 8.4 / 10 from 3 rated sources, equally weighted. Lockton’s reviews vary by office and entity. Local Google-derived ratings provide some service feedback, but no reliable firmwide verdict. - BBB: BBB grade A+ (BBB letter grade). Denver BBB profile for Lockton Companies, LLC; corporate profile, not insurer/customer-star aggregate. Checked 2026-09-25. [Lockton Companies, LLC | BBB Business Profile](https://www.bbb.org/us/co/denver/profile/insurance-companies/lockton-companies-llc-1296-9971) - ProvenExpert (Google Maps aggregation): Google Maps aggregate shown by ProvenExpert 4 (0–5 stars); 44 reviews. Aggregator profile labeled Lockton, insurance brokerage/consulting, attached to 444 W 47th St, Suite 900, Kansas City, Missouri. This is location-level evidence and should not be treated as firmwide consensus. ProvenExpert says the 44 reviews are from Google Maps; it does not show review-level dates in the captured result. Period: Profile active/updated 2026-08-18; accessed 2026-09-25. Checked 2026-09-25. [Lockton Reviews & Experiences | ProvenExpert](https://www.provenexpert.com/en-us/lockton/) - Birdeye (aggregates Google and Birdeye reviews): combined Google/Birdeye star rating 3.6 (0–5 stars); 144 reviews. Office/program-specific Lockton Affinity, LLC profile at 10895 Lowell Ave, Overland Park, Kansas; not Lockton Companies, LLC firmwide. Birdeye identifies 141 Google reviews plus 3 Birdeye reviews. Period: Accessed 2026-09-25; visible excerpts dated about 3 years earlier. Checked 2026-09-25. [Lockton Affinity, LLC | Birdeye](https://reviews.birdeye.com/lockton-affinity-llc-542637984) Reviewed 2026-09-25. [Read the sourced review](https://spot.insure/insurance-providers/lockton/reviews). ## Agent and Developer Resources - [Markdown page](https://spot.insure/compare/baldwin-vs-lockton/representations-warranties.md) - [Developer resources](https://spot.insure/developers) - [Public MCP server](https://spot.insure/mcp) - [MCP server manifest](https://spot.insure/server.json) - [OpenAPI description](https://spot.insure/openapi.json) - [Public page index](https://spot.insure/llms.txt)