Chubb vs Heffernan Insurance Brokers Representations and Warranties Insurance

Chubb underwrites representations and warranties (R&W) insurance directly, available to either buyers or sellers in an acquisition or merger transaction. ⁴Company-reported. R&W Insurance product page.

Heffernan's Private Equity and M&A (HIB) Practice arranges representation and warranty (RWI) insurance for deal buyers and sellers as part of a broader transactional-risk brokerage, rather than underwriting the coverage itself. ⁹Company-reported. Private Equity and M&A page as read on 2026-09-23.

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. ⁵Company-reported. Multinational large-accounts page Specialty Coverage list; R&W page does not itself state deal-size eligibility.

Heffernan markets this practice to private equity firms and strategic investors doing mergers and acquisitions, covering both enterprise-level and transactional liability needs. ⁹Company-reported. Private Equity and M&A page as read on 2026-09-23.

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. ⁴Company-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. ⁴Company-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. ⁴Company-reported. Benefits of a Seller-Side R&W Insurance Policy section.

Heffernan says RWI safeguards a buyer and seller's agreed understanding of a deal, and groups it under 'Transactional Risk Mitigation' alongside contingent liability, environmental liability, tax liability, and litigation-buyout coverage. ⁹Company-reported. Private Equity and M&A page as read on 2026-09-23; the page does not describe RWI's specific insuring agreement, exclusions, retention structure, or limits.

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. ⁴Not found in reviewed sources. R&W Insurance product page as read on 2026-09-23.

The reviewed page does not publish limits, retention levels, or premium ranges for representation and warranty policies. ⁹Not publicly disclosed. Private Equity and M&A page as read on 2026-09-23.

Not described in the reviewed sources.

Heffernan describes pre-close due diligence (a detailed review, benchmarking and a search for hidden liabilities), group purchasing across its private-equity clients, and insurance planning for the company after closing. ⁹Company-reported. Private Equity and M&A page as read on 2026-09-23.

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. ⁴Company-reported. R&W Insurance product page quote call-to-action.

Heffernan invites private equity and M&A clients to contact the practice directly; the page does not describe a self-service quote or online application path. ⁹Company-reported. Private Equity and M&A page as read on 2026-09-23.