CFC vs Chubb Representations and Warranties Insurance

CFC's Transaction Liability practice underwrites representations and warranties (R&W) insurance for M&A deals, available to both buyer-side and seller-side purchasers, alongside standalone small-deal products and secondary liquidity solutions. ⁵Company-reported. Transaction liability product page overview, describing CFC as a deal facilitator working with private equity firms and strategic buyers and sellers.

Chubb underwrites representations and warranties (R&W) insurance directly, available to either buyers or sellers in an acquisition or merger transaction. ⁹Company-reported. R&W Insurance product page.

CFC says it underwrites transaction liability business on behalf of Lloyd's of London syndicates and insurance companies rated 'A' or better by AM Best, without naming a specific carrier for any individual deal. ⁵Company-reported. Limit & appetite section of the product page; the specific carrier for a given policy would appear on that policy's documents.

Not described in the reviewed sources.

Not described in the reviewed sources.

Chubb's R&W product is part of its broader transactional risk suite serving large U.S. and Canadian multinational companies and their brokers; the reviewed pages do not state a minimum deal size for R&W specifically. ¹⁰Company-reported. Multinational large-accounts page Specialty Coverage list; R&W page does not itself state deal-size eligibility.

Beyond its main R&W policy, CFC sells two standalone small-deal products: Buyer Protect, described as covering a buyer for up to 100% of enterprise value, and Seller Protect, described as protecting sellers of small businesses during an M&A transaction. Both are limited to deals under $20 million. ⁵Company-reported. Product page descriptions and the 'Solutions' section, which caps buyer protect/seller protect at deals under $20m. The page's key-features bullets for these two products use near-identical wording about the buyer bringing a claim, so the exact difference in claims mechanics between the two products was not independently confirmable from this page alone.

The core transaction liability policy covers representations and warranties, contingent tax, and other M&A liabilities, and CFC also offers excess coverage layered on top for certain fundamental representations. ⁵Company-reported. Product page key features and the 'Limit & appetite' section; exact terms are set by the policy as issued.

CFC separately offers secondary liquidity solutions for private market investors acquiring, divesting, or restructuring interests in private equity, private credit, or other fund assets, through what it calls a dedicated secondaries underwriting practice. ⁵Company-reported. Secondary liquidity solutions section of the product page.

Chubb says the policy protects against financial losses, including defense costs, in excess of a retention, for certain unintentional and unknown breaches of the seller's representations and warranties made in the acquisition or merger agreement. ⁹Company-reported. R&W Insurance product page opening description and footnote.

For buyer-side policies, Chubb lists benefits including protection beyond the negotiated indemnity cap and survival limitations, protection against a seller's collectability or solvency risk, and support for distinguishing a bid in a competitive auction by requiring shorter survival periods and lower liability caps from the seller. ⁹Company-reported. Benefits of a Buyer-Side R&W Insurance Policy section.

For seller-side policies, Chubb says the coverage backstops negotiated indemnity obligations, which it calls a key benefit for private equity or venture capital funds at the end of their life cycle, and protects minority or passive sellers concerned about joint and several liability. ⁹Company-reported. Benefits of a Seller-Side R&W Insurance Policy section.

CFC says it can underwrite up to $50 million of limit on a single transaction, or up to $150 million of excess coverage for certain fundamental representations. ⁵Company-reported. Limit & appetite section of the product page.

The reviewed pages state that coverage applies in excess of a retention but do not publish specific limit, retention or premium figures; Chubb describes R&W policies as negotiated deal-by-deal. ⁹Not found in reviewed sources. R&W Insurance product page as read on 2026-09-23.

For the Buyer Protect and Seller Protect products, CFC says coverage can be placed within 24 hours of receiving the application form, and can be arranged after closing. ⁵Company-reported. Buyer protect and seller protect key features on the product page.

R&W insurance is placed through Chubb's transactional risk team working with the deal's buyer, seller and their brokers; the product page directs interested businesses to request a quote. ⁹Company-reported. R&W Insurance product page quote call-to-action.

CFC has a dedicated transaction liability claims team in its London and New York offices, says it has handled nearly 300 claims to date, and aims to send an acknowledgement within 24 hours of a claim notification. ⁵Company-reported. Claims section of the product page; outcome statistics are company-reported and not independently verified.

Not described in the reviewed sources.