--- title: "CFC vs Gallagher Representations and Warranties Insurance" description: "CFC underwrites R&W with published limits; Gallagher’s executive-risk practice places custom forms and markets SPAC packages." canonical: "https://spot.insure/compare/cfc-vs-gallagher/representations-warranties" page-type: "line-comparison" updated-at: "2026-09-23" --- 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, and get_rankings for current provider rankings. The server is read-only and requires no authentication. [Human-readable page](https://spot.insure/compare/cfc-vs-gallagher/representations-warranties) # CFC vs Gallagher Representations and Warranties Insurance CFC underwrites R&W with published limits; Gallagher’s executive-risk practice places custom forms and markets SPAC packages. ## Research Scope and Use Use this comparison to evaluate CFC and Gallagher 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 CFC underwrites transaction liability, including 24-hour small-deal products under $20 million. Gallagher places R&W with outside carriers and says dedicated attorneys help with custom forms, diligence, and SPAC-related placements. [5](https://www.cfc.com/en-us/products/class/transaction-liability/ "Transaction liability insurance | Representation and indemnities insurance | CFC") [8](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") ## What Is CFC Insurance? CFC provides specialty insurance through an MGA model, with technology products for startups through multinational businesses. Its U.S. technology materials describe combined liability and cyber protection, while California eligibility requires product-specific confirmation. [1](https://www.cfc.com/en-us/company/ "About CFC") [2](https://www.cfc.com/en-us/products/industry/technology/ "Technology") [3](https://webcdn.cfc.com/media/ywdbvkpy/technology_product-brochure_us_0525_v2.pdf "Technology — United States product brochure") [4](https://www.cfc.com/en-us/support/regulatory-information/ "Regulatory information") [CFC profile](https://spot.insure/insurance-providers/cfc) ## What Is Gallagher? Gallagher is a business-insurance broker and risk-management consultancy. Its technology practice serves startups through global enterprises, alongside a separate small-business offering for IT professionals and an executive-risk practice covering D&O and transaction-related coverages. Woodruff Sawyer is now part of Gallagher. [6](https://www.ajg.com/industries/technology-insurance/ "Technology Insurance") [7](https://www.gallaghersmallbusiness.com/technology-services/ "Insurance for Technology & IT Businesses") [8](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [9](https://www.gallaghersmallbusiness.com/legal-information/ "Legal Information") [10](https://www.ajg.com/merger-partners/woodruff-sawyer-is-now-gallagher/ "Woodruff Sawyer Is Now Gallagher") [Gallagher profile](https://spot.insure/insurance-providers/gallagher) ## What Is Representations and Warranties Insurance? Representations and warranties insurance addresses financial loss from inaccuracies in the representations or warranties made in a stock or asset purchase agreement. It doesn't cover issues already known before signing, disputes over the purchase price, or every statement made during diligence. [11](https://www.cfc.com/en-us/products/class/transaction-liability/ "Transaction liability insurance | Representation and indemnities insurance") [12](https://www.beazley.com/en-us/products/executive-risk-usa/mergers-acquisitions "Mergers & Acquisitions") ## Key Differences in Representations and Warranties Insurance ### Underwriting Capacity Versus Broker Placement CFC underwrites R&W and publishes capacity of up to $50 million on a transaction and up to $150 million of excess for certain fundamental representations, on Lloyd’s and A-rated company paper. Gallagher’s Executive and Financial Risk practice places R&W with outside carriers and does not name the insurer or publish limit figures on the reviewed page. [5](https://www.cfc.com/en-us/products/class/transaction-liability/ "Transaction liability insurance | Representation and indemnities insurance | CFC") [8](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") ### Diligence Support and SPAC Deals Gallagher describes analysis, custom policy forms and pre-transaction diligence, plus several dedicated attorneys who work M&A transactional placements from start to finish, and it markets R&W to SPACs bundled with D&O across IPO and de-SPAC. CFC’s reviewed pages describe a dedicated claims team and small-deal Buyer Protect / Seller Protect products, not a SPAC D&O bundle or an in-house attorney placement desk. [8](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [5](https://www.cfc.com/en-us/products/class/transaction-liability/ "Transaction liability insurance | Representation and indemnities insurance | CFC") ### Speed on Small Transactions CFC says Buyer Protect and Seller Protect can be placed within 24 hours of an application and after closing, on deals under $20 million. Gallagher’s reviewed executive-risk page does not publish a bind timeline or a small-deal product split. [5](https://www.cfc.com/en-us/products/class/transaction-liability/ "Transaction liability insurance | Representation and indemnities insurance | CFC") [8](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") ## What to Confirm in Representations and Warranties Insurance Quotes - Ask Gallagher which carrier and custom form it is using, and ask CFC which syndicate or company is on the policy. [8](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [5](https://www.cfc.com/en-us/products/class/transaction-liability/ "Transaction liability insurance | Representation and indemnities insurance | CFC") - If the deal is a SPAC or de-SPAC, ask Gallagher how R&W sits with the D&O program; CFC’s reviewed pages do not describe that package. [8](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") - Confirm whether CFC’s 24-hour small-deal path applies, or whether Gallagher’s attorney-led diligence is the process for this size. [5](https://www.cfc.com/en-us/products/class/transaction-liability/ "Transaction liability insurance | Representation and indemnities insurance | CFC") [8](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") - Compare CFC’s published $50 million / $150 million excess numbers with the Gallagher quote’s actual limit and retention. [5](https://www.cfc.com/en-us/products/class/transaction-liability/ "Transaction liability insurance | Representation and indemnities insurance | CFC") [8](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") ## Offering Details | Criteria | CFC Transaction Liability Insurance | Gallagher M&A Transactional Insurance (Representations and Warranties) | | --- | --- | --- | | Role in This Line | 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. [5](https://www.cfc.com/en-us/products/class/transaction-liability/ "Transaction liability insurance | Representation and indemnities insurance | CFC") (Evidence: Company-reported; scope: Transaction liability product page overview, describing CFC as a deal facilitator working with private equity firms and strategic buyers and sellers..) | Gallagher's Executive and Financial Risk practice places representations and warranties (R&W) insurance for mergers and acquisitions with outside carriers; it does not underwrite the policy. [8](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") (Evidence: Company-reported; scope: Group-level executive-and-financial-risk practice page..) | | Issuing Insurer | 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. [5](https://www.cfc.com/en-us/products/class/transaction-liability/ "Transaction liability insurance | Representation and indemnities insurance | CFC") (Evidence: Company-reported; scope: Limit & appetite section of the product page; the specific carrier for a given policy would appear on that policy's documents..) | The executive-and-financial-risk page does not name the insurer that would issue a given transaction's R&W policy. [8](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") (Evidence: Not publicly disclosed; scope: Checked the group-level executive-and-financial-risk practice page..) | | Who It’s For | Not described in the reviewed sources. | Gallagher also markets R&W insurance specifically to special-purpose acquisition companies (SPACs), bundling it with D&O coverage across the IPO and de-SPAC process for the business combination. [8](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") (Evidence: Company-reported; scope: Group-level executive-and-financial-risk practice page, SPAC subsection..) | | Coverage Features | 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. [5](https://www.cfc.com/en-us/products/class/transaction-liability/ "Transaction liability insurance | Representation and indemnities insurance | CFC") (Evidence: Company-reported; scope: 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. [5](https://www.cfc.com/en-us/products/class/transaction-liability/ "Transaction liability insurance | Representation and indemnities insurance | CFC") (Evidence: Company-reported; scope: 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. [5](https://www.cfc.com/en-us/products/class/transaction-liability/ "Transaction liability insurance | Representation and indemnities insurance | CFC") (Evidence: Company-reported; scope: Secondary liquidity solutions section of the product page..) | Gallagher describes providing analysis, custom policy forms and pre-transaction diligence to select markets and deliver R&W and tax-mitigation coverage for both buyers and sellers in M&A deals. [8](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") (Evidence: Company-reported; scope: Group-level executive-and-financial-risk practice page; a service description, not a specific policy's insuring agreement or exclusions..) | | Limits and Retentions | 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. [5](https://www.cfc.com/en-us/products/class/transaction-liability/ "Transaction liability insurance | Representation and indemnities insurance | CFC") (Evidence: Company-reported; scope: Limit & appetite section of the product page..) | The page does not publish specific R&W limits, retentions or premium ranges. [8](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") (Evidence: Not publicly disclosed; scope: Checked the group-level executive-and-financial-risk practice page..) | | Risk Services | Not described in the reviewed sources. | Gallagher says it has several dedicated attorneys who assist with M&A transactional insurance placements, including R&W, from start to finish. [8](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") (Evidence: Company-reported; scope: Group-level executive-and-financial-risk practice page..) | | How to Apply | 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. [5](https://www.cfc.com/en-us/products/class/transaction-liability/ "Transaction liability insurance | Representation and indemnities insurance | CFC") (Evidence: Company-reported; scope: Buyer protect and seller protect key features on the product page..) | Not described in the reviewed sources. | | Claims Support | 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. [5](https://www.cfc.com/en-us/products/class/transaction-liability/ "Transaction liability insurance | Representation and indemnities insurance | CFC") (Evidence: Company-reported; scope: Claims section of the product page; outcome statistics are company-reported and not independently verified..) | Not described in the reviewed sources. | ## Full Comparison - [CFC vs Gallagher](https://spot.insure/compare/cfc-vs-gallagher): all coverage lines, business roles, service and claims. - [What Is Representations and Warranties Insurance?](https://spot.insure/coverage/representations-warranties): Representations and warranties insurance addresses financial loss from inaccurate statements in a business purchase agreement. - [CFC vs Gallagher Commercial Property Insurance](https://spot.insure/compare/cfc-vs-gallagher/commercial-property) - [CFC vs Gallagher Crime Insurance](https://spot.insure/compare/cfc-vs-gallagher/crime) - [CFC vs Gallagher Cyber Insurance](https://spot.insure/compare/cfc-vs-gallagher/cyber) - [CFC vs Gallagher D&O Insurance](https://spot.insure/compare/cfc-vs-gallagher/directors-officers) - [CFC vs Gallagher Employment Practices Liability Insurance](https://spot.insure/compare/cfc-vs-gallagher/employment-practices) - [CFC vs Gallagher General Liability Insurance](https://spot.insure/compare/cfc-vs-gallagher/general-liability) - [CFC vs Gallagher Kidnap and Ransom Insurance](https://spot.insure/compare/cfc-vs-gallagher/kidnap-ransom) - [CFC vs Gallagher Product Recall Insurance](https://spot.insure/compare/cfc-vs-gallagher/product-recall) - [CFC vs Gallagher Professional Liability (E&O) Insurance](https://spot.insure/compare/cfc-vs-gallagher/professional-errors-omissions) - [CFC vs Gallagher Tech E&O Insurance](https://spot.insure/compare/cfc-vs-gallagher/technology-errors-omissions) - [CFC vs Gallagher Umbrella and Excess Liability Insurance](https://spot.insure/compare/cfc-vs-gallagher/umbrella-excess) - [Beazley vs CFC Representations and Warranties Insurance](https://spot.insure/compare/beazley-vs-cfc/representations-warranties) - [Beazley vs Gallagher Representations and Warranties Insurance](https://spot.insure/compare/beazley-vs-gallagher/representations-warranties) - [CFC vs Chubb Representations and Warranties Insurance](https://spot.insure/compare/cfc-vs-chubb/representations-warranties) - [CFC vs Corgi Representations and Warranties Insurance](https://spot.insure/compare/cfc-vs-corgi/representations-warranties) - [CFC vs Coverdash Representations and Warranties Insurance](https://spot.insure/compare/cfc-vs-coverdash/representations-warranties) - [CFC vs Founder Shield Representations and Warranties Insurance](https://spot.insure/compare/cfc-vs-foundershield/representations-warranties) ## Sources ### CFC 1. [About CFC](https://www.cfc.com/en-us/company/). CFC; Matt Taylor biography: independent MGA and Syndicate 1988. Accessed 2026-09-16. 2. [Technology](https://www.cfc.com/en-us/products/industry/technology/). CFC; Introduction; Technology key features; Digitally traded. Accessed 2026-09-16. 3. [Technology — United States product brochure](https://webcdn.cfc.com/media/ywdbvkpy/technology_product-brochure_us_0525_v2.pdf). CFC; Page 1: coverage sections, including Products and services liability; Response app highlights; Limits and deductibles. Accessed 2026-09-16. 4. [Regulatory information](https://www.cfc.com/en-us/support/regulatory-information/). CFC; CFC Underwriting Limited; CFC Lloyd's Syndicate 1988. Accessed 2026-09-23. 5. [Transaction liability insurance | Representation and indemnities insurance | CFC](https://www.cfc.com/en-us/products/class/transaction-liability/). CFC; Transaction liability / Seller protect / Buyer protect / Secondary liquidity solutions; Why choose CFC: Solutions, Experience, Limit & appetite, Claims; FAQs. Accessed 2026-09-23. ### Gallagher 6. [Technology Insurance](https://www.ajg.com/industries/technology-insurance/). Gallagher; Introduction; Solutions and coverages for the technology industry: Technology errors and omissions including cyber, Intellectual property insurance, Product liability, Employee benefits; Data-driven insights; global network. Accessed 2026-09-16. 7. [Insurance for Technology & IT Businesses](https://www.gallaghersmallbusiness.com/technology-services/). Gallagher Small Business; Protection for IT Professionals & Their Technology-Based Businesses; recommended coverage menu, including Surety Bond Programs; Connect With An Advisor. Accessed 2026-09-16. 8. [Executive and Financial Risk Insurance](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/). Gallagher; M&A Transactional Insurance, including Representations and Warranties and Tax Mitigation Insurance section; Special-Purpose Acquisition Companies (SPACs) section. Accessed 2026-09-23. 9. [Legal Information](https://www.gallaghersmallbusiness.com/legal-information/). Gallagher Small Business; Producer identification immediately above Quick Links. Accessed 2026-09-16. 10. [Woodruff Sawyer Is Now Gallagher](https://www.ajg.com/merger-partners/woodruff-sawyer-is-now-gallagher/). Gallagher; Opening; Executive and Financial Risk consulting; Continued access to client portals; contact form. Accessed 2026-09-16. ### Representations and Warranties Insurance Guide 11. [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. 12. [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. Updated 2026-09-23. 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). 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