Beazley vs Lockton: How Do They Compare for Representations and Warranties Insurance?

Beazley says it can underwrite M&A insurance in all 50 US states and more than 80 jurisdictions; Lockton places RWI instead, with former M&A lawyers and dedicated claims experts after a policy is bound.

Beazley is an insurer offering up to $50 million per deal, plus tax and contingent liability cover. Lockton is a broker that staffs every deal with former M&A lawyers around the clock and keeps transaction claims experts on your side after closing. ^1,²

What Are the Key Differences Between Beazley and Lockton Representations and Warranties Insurance?

Insurer With $50 Million Capacity vs Broker Staffing Your Deal

Beazley underwrites M&A insurance with advertised limits up to $50 million, and you reach it through named underwriters. Lockton’s RWI practice places policies with insurers it doesn’t name, staffing every deal with a partner and an associate drawn from former M&A lawyers and transaction advisors for 24/7 coverage. Choose Beazley if your deal team already has a broker and needs a known insurer with published capacity; choose Lockton if you want deal lawyers negotiating the policy against your closing timeline. ¹ ²

Buyer and Seller Cover Plus Tax vs Escrow Replacement

Beazley covers a seller defending a buyer’s breach claim, or a buyer’s own losses from innocent or fraudulent seller breaches, and adds tax and contingent liability cover. Lockton frames RWI as replacing or topping up a seller indemnity or escrow: the insurer pays the buyer for losses from an unknown breach. For sellers, Lockton says that means faster access to proceeds and less exposure after closing; for buyers, broader protection and faster negotiation. ¹ ²

Claims Experts After Closing vs a Paid-Claim Example

Lockton says dedicated transaction-liability claims experts stay with you after the policy binds, and that it has helped clients settle hundreds of millions of dollars of RWI claims. Beazley’s page shows one paid IP-litigation claim it chose to highlight, not an aggregate figure. ² ¹

What Should You Confirm in Beazley and Lockton Representations and Warranties Insurance Quotes?

Ask Beazley what limit it will actually offer on your deal; $50 million is the advertised ceiling. ¹
Ask Lockton which insurer would write your policy and who staffs your closing. ²
Ask both whether the policy replaces escrow or sits above a reduced seller indemnity. ² ¹
Ask both who your claims contact is after closing. ² ¹

Beazley vs Lockton Representations and Warranties Insurance Compared

Beazley vs Lockton: Representations and Warranties Insurance: documented features by provider

Criteria	Beazley Mergers & Acquisitions Insurance	Lockton Representations & Warranties Insurance (RWI)
Who It’s For	Beazley says it offers this coverage to private equity clients, selling entrepreneurs, private shareholders, venture capital funds, listed companies and other corporate clients, with a broad appetite across different target sectors, deal types and transaction structures. ¹Company-reported. Product-page target-customer list; individual deal acceptance still depends on underwriting. Beazley says it can underwrite and place M&A insurance, including cross-border deals, in all 50 US states and more than 80 jurisdictions globally. ¹Company-reported. Company-stated geographic reach; not an independently verified regulator record of authorization in every jurisdiction listed.	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. ²Company-reported. RWI product page as read 2026-09-23.
Coverage Features	Beazley describes coverage that can be provided to a seller to defend against a breach of representations or warranties claimed by a purchaser, or to a purchaser for first-party protection against innocent or fraudulent breaches by a seller. ¹Company-reported. Product-page description of the insuring structure; actual policy wording, retentions and exclusions are set at binding. Beyond representation and warranty breaches, Beazley says its M&A offering can also address adverse tax consequences and contingent liability claims arising from a transaction. ¹Company-reported. Product-page "What we offer" summary; each element's availability depends on the specific transaction and underwriting.	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. ²Company-reported. RWI product page as read 2026-09-23. General description of how the product functions, not a specimen policy.
Role in This Line	Beazley underwrites representations and warranties (M&A) insurance directly, describing solutions designed to reduce or extinguish the impact of liabilities arising from a merger or acquisition, including warranty breaches, adverse tax consequences and contingent liability claims. ¹Company-reported. US Mergers & Acquisitions product page; scope covers the general insuring concept, not a specific policy form.	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. ²Company-reported. RWI product page as read 2026-09-23.
Claims Support	Beazley's own example describes a case where its insured was sued by a third party over intellectual property and lost, the third party then counterclaimed against the acquired target, and Beazley paid the claim and it was settled with the third party, despite some question over whether the claim was fully covered. ¹Company-reported. A single company-selected scenario on the product page; it is not a claims-handling statistic or a guarantee of similar outcomes.	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. ²Company-reported. RWI product page as read 2026-09-23. Aggregate claims-settlement figure is company-reported and not independently verified.