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

Coverdash works from a panel of insurers when arranging R&W quotes; Lockton places RWI through former M&A lawyers and cites hundreds of millions of dollars of settled RWI claims.

Lockton staffs R&W deals with former M&A lawyers on a 24/7 partner-and-associate model and keeps dedicated claims experts with you after the policy binds. Coverdash shops quotes from a panel of insurers and pitches R&W as a way to reduce or replace escrow and holdbacks. ^2,¹

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

Deal Lawyers on Call vs a Panel Quote

Lockton places R&W insurance with a team of former M&A lawyers and transaction advisors, and says its partner-and-associate model covers every deal 24/7. Coverdash arranges quotes from insurers on its panel. Neither writes the policy or names the insurers. Choose Lockton if you want deal lawyers negotiating your policy and support if a claim arises after closing; choose Coverdash if you mainly want competing quotes to replace escrow on a simpler deal. ¹ ²

What R&W Does for Each Side

Coverdash says R&W can reduce or replace escrow and holdbacks, and buy-side policies are more common because the buyer recovers from the insurer. Lockton says RWI replaces or bolsters seller indemnity or escrow. For sellers, it lists faster access to proceeds, less post-closing exposure and no guarantee; for buyers, broader protection, faster negotiation and fewer conflicts with the seller. ¹ ²

Claims After the Policy Binds

Lockton keeps dedicated transaction-liability claims experts on your deal after binding, and says it has helped settle hundreds of millions of dollars of RWI claims. Coverdash doesn't describe a claims team for R&W. ² ¹

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

Ask both which insurer will issue your policy. ¹ ²
Ask whether the policy replaces seller indemnity and escrow or sits alongside remaining seller liability. ² ¹
Ask Coverdash who helps you file and negotiate a claim after closing. ²
Get the named insured, limit and retention in writing. ¹ ²

Coverdash vs Lockton Representations and Warranties Insurance Compared

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

Criteria	Coverdash Representations and Warranties Insurance	Lockton Representations & Warranties Insurance (RWI)
Who It’s For	Coverdash markets representations and warranties coverage to buyers, sellers and investors in mergers, acquisitions and private equity deals, describing it as a way to allocate deal risk and help close with confidence. ¹Company-reported. Hero description and Who it's for section, read for the reps and warranties product specifically rather than the whole transactional risk category.	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	Coverdash describes representations and warranties insurance as covering losses from a breach of the representations and warranties made in a deal, specifically breaches of the seller's representations and warranties. ¹Company-reported. Reps and warranties Types of Coverage card and the FAQ answer to 'What's covered?'; exclusions, retentions and claims conditions are not described and would appear on the issued policy. Coverdash says either the buyer or the seller in an M&A transaction can buy representations and warranties coverage, and that buy-side policies are the more common choice because they let the buyer recover directly from the insurer. ¹Company-reported. FAQ answer to 'Who buys reps and warranties coverage?'. Coverdash says using representations and warranties insurance can reduce or replace escrow and indemnity holdbacks in a deal, and that it helps protect the buyer-seller relationship and close deals faster. ¹Company-reported. FAQ answer to 'Why use transactional risk insurance?'; applies to the reps and warranties product specifically.	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	Coverdash arranges representations and warranties insurance quotes from its panel of insurers rather than underwriting the policy itself, as one of three products (alongside tax liability and contingent liability) on its transactional risk page. ¹Company-reported. Coverdash's transactional risk product page, scoped to the reps and warranties card specifically, read together with the provider record's brokerage role. Does not identify which insurer would actually issue a given quote.	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.

Criteria

Coverdash Representations and Warranties Insurance

Lockton Representations & Warranties Insurance (RWI)

Who It’s For

Coverdash markets representations and warranties coverage to buyers, sellers and investors in mergers, acquisitions and private equity deals, describing it as a way to allocate deal risk and help close with confidence. ¹Company-reported. Hero description and Who it's for section, read for the reps and warranties product specifically rather than the whole transactional risk category.

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

Coverdash describes representations and warranties insurance as covering losses from a breach of the representations and warranties made in a deal, specifically breaches of the seller's representations and warranties. ¹Company-reported. Reps and warranties Types of Coverage card and the FAQ answer to 'What's covered?'; exclusions, retentions and claims conditions are not described and would appear on the issued policy.

Coverdash says either the buyer or the seller in an M&A transaction can buy representations and warranties coverage, and that buy-side policies are the more common choice because they let the buyer recover directly from the insurer. ¹Company-reported. FAQ answer to 'Who buys reps and warranties coverage?'.

Coverdash says using representations and warranties insurance can reduce or replace escrow and indemnity holdbacks in a deal, and that it helps protect the buyer-seller relationship and close deals faster. ¹Company-reported. FAQ answer to 'Why use transactional risk insurance?'; applies to the reps and warranties product specifically.

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

Coverdash arranges representations and warranties insurance quotes from its panel of insurers rather than underwriting the policy itself, as one of three products (alongside tax liability and contingent liability) on its transactional risk page. ¹Company-reported. Coverdash's transactional risk product page, scoped to the reps and warranties card specifically, read together with the provider record's brokerage role. Does not identify which insurer would actually issue a given quote.

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.