Chubb vs Gallagher: How Do They Compare for Representations and Warranties Insurance?

Chubb underwrites R&W for buyers or sellers and directs interested businesses to request a quote; Gallagher places it with outside carriers and offers custom policy forms and pre-transaction diligence.

Chubb writes R&W itself for large US and Canadian multinationals and publishes what it does for buyers and sellers; Gallagher is a broker whose dedicated attorneys run diligence, negotiate custom forms with outside insurers and bundle R&W with D&O for SPAC deals. ^1,^2,³

What Are the Key Differences Between Chubb and Gallagher Representations and Warranties Insurance?

Insurer’s Own Deal Team vs Broker Attorneys and Custom Forms

Chubb underwrites R&W itself, quoting through its transactional-risk team with the deal parties and their brokers, and lists it among specialty coverages for large US and Canadian multinationals. Gallagher places R&W with outside insurers it doesn’t name, and says dedicated attorneys handle analysis, custom policy forms and pre-transaction diligence from start to finish. Choose Chubb if you are a large multinational buyer or seller who wants a known insurer’s standard terms; choose Gallagher if you are doing a SPAC or de-SPAC, or want a broker to negotiate bespoke wording across insurers. ¹ ² ³

Published Buyer and Seller Benefits vs Tax Cover on a Custom Form

For buyers, Chubb says R&W extends protection beyond the negotiated indemnity cap and survival period, protects against a seller who can’t pay, and helps you win auctions by accepting shorter survival and lower caps. For sellers, it backstops indemnity for funds winding down and protects minority or passive sellers from joint and several liability. Gallagher covers both buyers and sellers and adds tax-mitigation cover, but you’ll only see how it handles caps, survival and collectability on its custom form. ¹ ³

SPAC Bundle vs Multinational Suite

Gallagher bundles R&W with D&O across a SPAC’s IPO and de-SPAC combination, so one team handles both. Chubb doesn’t describe a SPAC package and publishes no minimum deal size, so ask whether your deal fits its multinational suite. ² ³

What Should You Confirm in Chubb and Gallagher Representations and Warranties Insurance Quotes?

Ask Gallagher which insurer and form it is quoting. ³ ¹
For a SPAC or de-SPAC, ask Gallagher how R&W and D&O limits fit together. ³
Compare indemnity cap, survival and seller-solvency terms on both forms. ¹ ³
Get limit, retention and tax-mitigation terms in writing from both; neither publishes them. ¹ ³

Chubb vs Gallagher Representations and Warranties Insurance Compared

Chubb vs Gallagher: Representations and Warranties Insurance: documented features by provider

Criteria	Chubb Representations and Warranties (R&W) Insurance	Gallagher M&A Transactional Insurance (Representations and Warranties)
Who It’s For	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. ²Company-reported. Multinational large-accounts page Specialty Coverage list; R&W page does not itself state deal-size eligibility.	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. ³Company-reported. Group-level executive-and-financial-risk practice page, SPAC subsection.
Coverage Features	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. ¹Company-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. ¹Company-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. ¹Company-reported. Benefits of a Seller-Side R&W Insurance Policy section.	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. ³Company-reported. Group-level executive-and-financial-risk practice page; a service description, not a specific policy's insuring agreement or exclusions.
Role in This Line	Chubb underwrites representations and warranties (R&W) insurance directly, available to either buyers or sellers in an acquisition or merger transaction. ¹Company-reported. R&W Insurance product page.	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. ³Company-reported. Group-level executive-and-financial-risk practice page.

Criteria

Chubb Representations and Warranties (R&W) Insurance

Gallagher M&A Transactional Insurance (Representations and Warranties)

Who It’s For

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. ²Company-reported. Multinational large-accounts page Specialty Coverage list; R&W page does not itself state deal-size eligibility.

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. ³Company-reported. Group-level executive-and-financial-risk practice page, SPAC subsection.

Coverage Features

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. ¹Company-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. ¹Company-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. ¹Company-reported. Benefits of a Seller-Side R&W Insurance Policy section.

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. ³Company-reported. Group-level executive-and-financial-risk practice page; a service description, not a specific policy's insuring agreement or exclusions.

Role in This Line

Chubb underwrites representations and warranties (R&W) insurance directly, available to either buyers or sellers in an acquisition or merger transaction. ¹Company-reported. R&W Insurance product page.

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. ³Company-reported. Group-level executive-and-financial-risk practice page.