--- title: "Gallagher vs Lockton Representations and Warranties Insurance" description: "Gallagher staffs R&W with dedicated attorneys and SPAC bundling; Lockton uses a Partner/Associate model and post-bind claims experts." canonical: "https://spot.insure/compare/gallagher-vs-lockton/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/gallagher-vs-lockton/representations-warranties) # Gallagher vs Lockton Representations and Warranties Insurance Gallagher staffs R&W with dedicated attorneys and SPAC bundling; Lockton uses a Partner/Associate model and post-bind claims experts. ## Research Scope and Use Use this comparison to evaluate Gallagher and Lockton 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 Gallagher places R&W through an executive-risk practice that cites custom forms, SPAC-plus-D&O work and dedicated attorneys. Lockton’s RWI Practice staffs former M&A lawyers on a Partner/Associate model and describes dedicated transaction-liability claims experts after bind. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [9](https://global.lockton.com/us/en/products-services/representation-warranties-insurance "Representations & Warranties Insurance | Lockton USA") ## 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. [1](https://www.ajg.com/industries/technology-insurance/ "Technology Insurance") [2](https://www.gallaghersmallbusiness.com/technology-services/ "Insurance for Technology & IT Businesses") [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [4](https://www.gallaghersmallbusiness.com/legal-information/ "Legal Information") [5](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 Lockton? Lockton is a privately held insurance brokerage that arranges commercial risk, employee benefits and retirement programs. US pages describe a technology practice and intermediary placement with insurers, not Lockton as the policy’s insurer. [6](https://global.lockton.com/us/en "Lockton United States") [7](https://global.lockton.com/us/en/technology "Technology") [8](https://global.lockton.com/us/en/terms-of-business "US Terms of Business") [Lockton profile](https://spot.insure/insurance-providers/lockton) ## 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. [10](https://www.cfc.com/en-us/products/class/transaction-liability/ "Transaction liability insurance | Representation and indemnities insurance") [11](https://www.beazley.com/en-us/products/executive-risk-usa/mergers-acquisitions "Mergers & Acquisitions") ## Key Differences in Representations and Warranties Insurance ### Placement Teams Gallagher and Lockton both place R&W rather than issue the policy. Gallagher says several dedicated attorneys assist with M&A transactional insurance from start to finish. 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 and provide 24/7 coverage. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [9](https://global.lockton.com/us/en/products-services/representation-warranties-insurance "Representations & Warranties Insurance | Lockton USA") ### What Each Practice Says the Policy Does Gallagher describes analysis, custom policy forms and pre-transaction diligence to deliver R&W and tax-mitigation coverage for buyers and sellers. Lockton describes RWI as a policy used to replace or bolster a seller indemnity or escrow, under which an insurer indemnifies the buyer for losses from an unknown breach of a representation or warranty. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [9](https://global.lockton.com/us/en/products-services/representation-warranties-insurance "Representations & Warranties Insurance | Lockton USA") ### SPAC Work Versus Claims Support After Bind Gallagher markets R&W specifically to SPACs, bundling it with D&O across the IPO and de-SPAC process. Lockton’s reviewed RWI page does not describe SPAC bundling; it instead says dedicated transaction-liability claims experts stay involved after a policy is bound, and cites having helped clients settle hundreds of millions of dollars of RWI claims. Neither page names the underwriter. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [9](https://global.lockton.com/us/en/products-services/representation-warranties-insurance "Representations & Warranties Insurance | Lockton USA") ## What to Confirm in Representations and Warranties Insurance Quotes - Ask Gallagher whether tax-mitigation insurance is being placed with the R&W policy and whether the deal is a SPAC combination. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") - Ask Lockton how the Partner/Associate staffing and 24/7 coverage apply to your closing calendar, and who the claims expert will be after bind. [9](https://global.lockton.com/us/en/products-services/representation-warranties-insurance "Representations & Warranties Insurance | Lockton USA") - Confirm whether the quote is written to replace escrow, as Lockton describes, or uses Gallagher’s custom form language. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [9](https://global.lockton.com/us/en/products-services/representation-warranties-insurance "Representations & Warranties Insurance | Lockton USA") - Get the issuing insurer and limit from both; neither reviewed page publishes them. [3](https://www.ajg.com/insurance/executive-and-financial-risk-insurance/ "Executive and Financial Risk Insurance") [9](https://global.lockton.com/us/en/products-services/representation-warranties-insurance "Representations & Warranties Insurance | Lockton USA") ## Offering Details | Criteria | Gallagher M&A Transactional Insurance (Representations and Warranties) | Lockton Representations & Warranties Insurance (RWI) | | --- | --- | --- | | 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. [3](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..) | 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. [9](https://global.lockton.com/us/en/products-services/representation-warranties-insurance "Representations & Warranties Insurance | Lockton USA") (Evidence: Company-reported; scope: RWI product page as read 2026-09-23..) | | Issuing Insurer | The executive-and-financial-risk page does not name the insurer that would issue a given transaction's R&W policy. [3](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..) | The RWI page does not name the insurers underwriting the representations and warranties policies Lockton places. [9](https://global.lockton.com/us/en/products-services/representation-warranties-insurance "Representations & Warranties Insurance | Lockton USA") (Evidence: Not publicly disclosed; scope: RWI page checked 2026-09-23..) | | 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. [3](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..) | 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. [9](https://global.lockton.com/us/en/products-services/representation-warranties-insurance "Representations & Warranties Insurance | Lockton USA") (Evidence: Company-reported; scope: 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. [3](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..) | 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. [9](https://global.lockton.com/us/en/products-services/representation-warranties-insurance "Representations & Warranties Insurance | Lockton USA") (Evidence: Company-reported; scope: RWI product page as read 2026-09-23. General description of how the product functions, not a specimen policy..) | | Limits and Retentions | The page does not publish specific R&W limits, retentions or premium ranges. [3](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..) | Not described in the reviewed sources. | | Risk Services | Gallagher says it has several dedicated attorneys who assist with M&A transactional insurance placements, including R&W, from start to finish. [3](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..) | Not described in the reviewed sources. | | Claims Support | Not described in the reviewed sources. | Lockton says it provides dedicated transaction liability claims experts after a policy is bound, and cites having helped clients settle hundreds of millions of dollars of RWI claims to date. [9](https://global.lockton.com/us/en/products-services/representation-warranties-insurance "Representations & Warranties Insurance | Lockton USA") (Evidence: Company-reported; scope: RWI product page as read 2026-09-23. Aggregate claims-settlement figure is company-reported and not independently verified..) | ## Full Comparison - [Gallagher vs Lockton](https://spot.insure/compare/gallagher-vs-lockton): 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. - [Gallagher vs Lockton Commercial Property Insurance](https://spot.insure/compare/gallagher-vs-lockton/commercial-property) - [Gallagher vs Lockton Crime Insurance](https://spot.insure/compare/gallagher-vs-lockton/crime) - [Gallagher vs Lockton Cyber Insurance](https://spot.insure/compare/gallagher-vs-lockton/cyber) - [Gallagher vs Lockton D&O Insurance](https://spot.insure/compare/gallagher-vs-lockton/directors-officers) - [Gallagher vs Lockton Employee Health Benefits](https://spot.insure/compare/gallagher-vs-lockton/employee-health-benefits) - [Gallagher vs Lockton Employment Practices Liability Insurance](https://spot.insure/compare/gallagher-vs-lockton/employment-practices) - [Gallagher vs Lockton Fiduciary Liability Insurance](https://spot.insure/compare/gallagher-vs-lockton/fiduciary) - [Gallagher vs Lockton General Liability Insurance](https://spot.insure/compare/gallagher-vs-lockton/general-liability) - [Gallagher vs Lockton Surety Bonds](https://spot.insure/compare/gallagher-vs-lockton/surety-bonds) - [Gallagher vs Lockton Workers’ Compensation Insurance](https://spot.insure/compare/gallagher-vs-lockton/workers-compensation) - [Beazley vs Gallagher Representations and Warranties Insurance](https://spot.insure/compare/beazley-vs-gallagher/representations-warranties) - [Beazley vs Lockton Representations and Warranties Insurance](https://spot.insure/compare/beazley-vs-lockton/representations-warranties) - [CFC vs Gallagher Representations and Warranties Insurance](https://spot.insure/compare/cfc-vs-gallagher/representations-warranties) - [CFC vs Lockton Representations and Warranties Insurance](https://spot.insure/compare/cfc-vs-lockton/representations-warranties) - [Chubb vs Gallagher Representations and Warranties Insurance](https://spot.insure/compare/chubb-vs-gallagher/representations-warranties) - [Chubb vs Lockton Representations and Warranties Insurance](https://spot.insure/compare/chubb-vs-lockton/representations-warranties) ## Sources ### Gallagher 1. [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. 2. [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. 3. [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. 4. [Legal Information](https://www.gallaghersmallbusiness.com/legal-information/). Gallagher Small Business; Producer identification immediately above Quick Links. Accessed 2026-09-16. 5. [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. ### Lockton 6. [Lockton United States](https://global.lockton.com/us/en). Lockton; Opening description of independent insurance brokerage for risk, benefits and retirement; Ask an Expert link to contact-us. Accessed 2026-09-16. 7. [Technology](https://global.lockton.com/us/en/technology). Lockton; Industry introduction; cyber liability heading; dedicated technology team; listed services including claims advocacy, contract review, directors and officers liability, and international program design; 24/7 service model. Accessed 2026-09-16. 8. [US Terms of Business](https://global.lockton.com/us/en/terms-of-business). Lockton; Opening entity definition; Surplus Lines; Use of a Particular Insurer; Compensation Disclosure; servicing, claims handling and renewal language in Confidentiality section; Intermediaries. Accessed 2026-09-16. 9. [Representations & Warranties Insurance | Lockton USA](https://global.lockton.com/us/en/products-services/representation-warranties-insurance). Lockton; The Certain Solution for Transactional Risk; Why clients consider RWI versus traditional indemnity; Seller/Buyer benefits; Claims. Accessed 2026-09-23. ### Representations and Warranties Insurance Guide 10. [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. 11. [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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