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

Gallagher markets R&W to SPACs, bundled with D&O coverage; Lockton staffs its RWI practice with former M&A lawyers and offers dedicated claims experts once a policy is bound.

Gallagher suits SPACs and deals that need custom policy forms, bundling R&W with D&O and tax cover through the IPO and de-SPAC. Lockton staffs every deal with former M&A lawyers, available 24/7, and keeps dedicated claims experts on after binding, citing hundreds of millions in settled claims. ^1,²

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

SPAC Bundles and Custom Forms vs Claims Help After Closing

Gallagher markets R&W to SPACs, bundling it with D&O through the IPO and de-SPAC, and uses analysis, custom policy forms and pre-deal diligence to place R&W and tax-mitigation cover. Lockton says its dedicated transaction-liability claims experts stay involved after binding and cites helping clients settle hundreds of millions of dollars in RWI claims. Choose Gallagher if you're a SPAC or need a tailored form; choose Lockton if claims support after closing matters most. ¹ ²

Attorney-Led Teams at Both, Staffed Differently

Gallagher says several dedicated attorneys handle M&A insurance from start to finish. Lockton staffs its practice with former M&A lawyers and transaction advisors in a partner-associate pairing on every deal, with 24/7 coverage, which helps on tight signing timelines. Lockton frames R&W as a way to replace or bolster seller indemnity or escrow. ¹ ²

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

Ask Gallagher whether tax-mitigation cover is placed with R&W, and whether its SPAC bundle applies to your deal. ¹
Ask Lockton who your partner, associate and post-bind claims expert will be. ²
Ask both how the policy changes escrow and seller indemnity in your purchase agreement. ¹ ²
Get the insurer and limit from both; neither publishes them. ¹ ²

Gallagher vs Lockton Representations and Warranties Insurance Compared

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

Criteria	Gallagher M&A Transactional Insurance (Representations and Warranties)	Lockton Representations & Warranties Insurance (RWI)
Who It’s For	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. ¹Company-reported. Group-level executive-and-financial-risk practice page, SPAC subsection.	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	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. ¹Company-reported. Group-level executive-and-financial-risk practice page; a service description, not a specific policy's insuring agreement or exclusions.	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	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. ¹Company-reported. Group-level executive-and-financial-risk practice page.	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.