Warranty and indemnity insurance have become a key feature in M&A transactions. Sellers’ warranties and representations are often intensely negotiated and may provide commercial buyers with comfort about the state of the business, but if they prove to be inaccurate for the commercial buyer warranty and indemnity insurance is where comfort is more likely to be found.
We have represented some of the world’s leading warranty and indemnity insurers and their insureds. Our team has experience across a range of industry sectors, advising insurers on buy and sell-side warranty and indemnity policies. We know how to navigate complex coverage disputes, defend the interests of the insured, and have acted as monitoring counsel for insurers on underlying proceedings brought against insureds.
Represented excess layer insurers in arbitration proceedings on a claim made under a buy-side policy for EUR270 million – the biggest warranty and indemnity claim in the London market in recent years.
Advised insurers on policy coverage regarding patent infringement proceedings that were issued in the US against the target company’s buyer, which sought an indemnity for its defence costs from the insured sellers under an indemnification agreement. Also acted as monitoring counsel of those proceedings, which were in the US District and Federal Courts.
Advised insurers on policy coverage regarding notifications made under a sell-side policy relating to alleged breaches of the tax covenant in a sale and purchase agreement. The notifications related to various alleged breaches by the target company in England, Kazakhstan, Trinidad & Tobago, Italy and Azerbaijan.