Heffernan Insurance Brokers vs 
Lockton: How Do They Compare for Representations and Warranties Insurance?
Heffernan Insurance Brokers groups R&W with contingent liability, environmental, tax and litigation-buyout coverage; Lockton staffs its RWI practice with former M&A lawyers and offers dedicated claims experts after binding.
Heffernan places R&W alongside environmental, tax, contingent and litigation-buyout cover and plans the acquired company's insurance after closing; Lockton's team of former M&A lawyers places RWI with 24/7 deal coverage, and its claims experts say they've helped clients settle hundreds of millions of dollars in RWI claims. 1,2
What Are the Key Differences Between Heffernan Insurance Brokers and Lockton Representations and Warranties Insurance?
Wider Deal-Risk Menu vs Claims Strength After Closing
Both are brokers and neither names insurers. Heffernan's Private Equity and M&A practice groups RWI with contingent liability, environmental liability, tax liability and litigation-buyout cover, and adds pre-close due diligence, group purchasing across its private-equity clients and insurance planning for the company after closing. Lockton staffs RWI with former M&A lawyers and transaction advisors on a Partner/Associate model with 24/7 coverage, and keeps dedicated transaction-liability claims experts on your deal after binding; it says it has helped clients settle hundreds of millions of dollars of RWI claims. Choose Heffernan if your deal carries environmental or tax exposure or you're a PE firm wanting ongoing portfolio service; choose Lockton if collecting on a breach claim is your main worry. 1 2
Escrow Replacement Benefits for Buyers and Sellers
Lockton frames RWI as a way to replace or bolster seller indemnity or escrow. For sellers, that means faster access to proceeds and less exposure after closing; for buyers, broader protection and faster negotiation. Heffernan doesn't describe escrow effects, and Lockton's RWI page doesn't list environmental cover. 1 2
What Should You Confirm in Heffernan Insurance Brokers and Lockton Representations and Warranties Insurance Quotes?
- Ask Heffernan whether environmental or tax liability cover is quoted with RWI, and whether post-close planning is included. 1
- Ask Lockton how escrow replacement is structured and who your post-bind claims expert will be. 2
- If you're on a tight signing timeline, ask Heffernan how quickly its practice responds, compared with Lockton's 24/7 coverage. 1 2
- Get limits and the issuing insurer from both quotes. 1 2
Heffernan Insurance Brokers vs Lockton Representations and Warranties Compared
Heffernan Insurance Brokers vs Lockton: Representations and Warranties Insurance: documented features by provider
| Criteria | Heffernan Private Equity and M&A Practice — Representation & Warranty Insurance | Lockton Representations & Warranties Insurance (RWI) |
|---|---|---|
| Who It’s For | Heffernan markets this practice to private equity firms and strategic investors doing mergers and acquisitions, covering both enterprise-level and transactional liability needs. 1Company-reported. Private Equity and M&A page as read on 2026-09-23. | 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 | 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. 1Company-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. | 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 | 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. 1Company-reported. Private Equity and M&A page as read on 2026-09-23. | 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. |
