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

Lockton places RWI through former M&A lawyers and cites hundreds of millions of dollars of settled RWI claims; USI Insurance Services reviews the offering memorandum and purchase agreement and keeps a local service team after close.

Lockton runs a dedicated R&W practice of former M&A lawyers, available 24/7, with claims experts who stay on after you buy and say they’ve helped settle hundreds of millions in claims; USI offers R&W within its private equity practice, reviewing deal documents and servicing the acquired company afterward. ^1,²

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

Dedicated R&W Lawyers vs One Offering in a PE Practice

Both are brokers and neither names the insurer. Lockton runs a dedicated R&W practice staffed by former M&A lawyers and transaction advisors on a partner/associate model with 24/7 coverage. USI lists R&W solutions for uninsured risk among several private equity offerings, with no dedicated R&W staffing described. Choose Lockton if the deal is complex or contested and you want R&W specialists negotiating wording and claims; choose USI if you are a PE firm that wants R&W alongside document review and ongoing insurance service for the portfolio company. ¹ ²

Escrow Replacement vs Pre-Closing Document Review

Lockton describes R&W as a way to replace or bolster a seller’s indemnity or escrow, with separate benefit lists for sellers and buyers. USI ties R&W to reviewing the offering memorandum and purchase agreement to spot pre-closing liabilities, for PE buyers and sellers working with financial or strategic buyers. ¹ ²

Claims Recovery vs Post-Close Servicing

Lockton says its transaction-liability claims experts stay involved after you buy and have helped clients settle hundreds of millions of dollars of R&W claims. USI keeps a local team servicing the acquired company’s insurance and benefits after close, with benchmarking and total-cost-of-risk analysis, reachable through a private-equity inquiry address or local office. If you expect to claim, Lockton has the stronger stated record. ¹ ²

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

Ask Lockton how the policy would replace escrow on your deal and who your claims expert will be. ¹
Ask USI how its document review feeds the R&W application. ²
Ask USI whether its post-close team handles an R&W claim or only the company’s ongoing insurance. ²
Get the insurer, limit and retention from both. ¹ ²

Lockton vs USI Insurance Services Representations and Warranties Compared

Lockton vs USI Insurance Services: Representations and Warranties Insurance: documented features by provider

Criteria	Lockton Representations & Warranties Insurance (RWI)	USI Private Equity Practice — Representations and Warranties Insurance
Who It’s For	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. ¹Company-reported. RWI product page as read 2026-09-23.	USI markets this practice to private equity buyers and sellers working with financial or strategic buyers throughout a merger or acquisition process, not to a general commercial buyer outside a deal context. ²Company-reported. Company description of the practice's audience.
Coverage Features	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. ¹Company-reported. RWI product page as read 2026-09-23. General description of how the product functions, not a specimen policy.	USI lists "Representations and Warranties Insurance Solutions for Uninsured Risk" among its Private Equity practice's offerings, in the context of reviewing the offering memorandum and purchase-and-sale agreement to identify pre-closing liabilities. ²Company-reported. Single catalogue line on the practice page; actual insuring agreements, exclusions and the underwriting review process are set by the R&W insurer and the deal's own diligence.
Role in This Line	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. ¹Company-reported. RWI product page as read 2026-09-23.	USI brokers representations and warranties (R&W) insurance as part of its Private Equity practice's deal-support services; it does not underwrite the policy itself. ²Company-reported. Private Equity practice page.