Friday, February 06, 2015
New York, NY – QBE North America’s expansion into Specialty insurance lines continues with the launch of a new Transactional Liability Practice.
The Transactional Liability Practice, led by Dennis Kearns, QBE Senior Vice President & Underwriting Counsel, will underwrite two new products – Representations & Warranties Insurance (R&W), and Tax Liability Insurance on a primary and an excess basis.
These products provide financial loss protection to directors, officers and their companies for potential legal liabilities from a merger or acquisition transaction.
Merger & Acquisition (M&A) activities require specialized underwriting expertise due to their fast pace and complex nature. QBE’s Transactional Liability Practice will provide tailored underwriting solutions addressing the risks and exposures facing buyers and sellers arising from their M&A activities. These products will minimize the risks directors and officers face, and provide balance sheet protection against potential loss.
With their dedicated and expert resources, the team will be uniquely positioned to provide the turnaround time necessary to facilitate buyers and sellers getting to deal.
The Representations & Warranties Insurance and Tax Liability Insurance are two new products that add to the breadth of the QBE Specialty product suite in the Management Liability (Directors & Officers Liability) and Professional Lines (Errors & Omissions) classes for private and public companies.
“Transactional Liability is a natural add-on to our existing Management Liability & Professional Lines product suite. It positions QBE North America as a full-service provider throughout the entire lifecycle of an enterprise,” said Kearns.
In addition to Management Liability & Professional Lines, QBE Specialty provides market leading product solutions for Aviation, Accident & Health, Trade Credit, Healthcare, Financial Institutions, Media Liability, Professional Firms and Technology customers.
QBE's North America operations are part of QBE Insurance Group Limited, one of the top 20 insurers and reinsurers worldwide. Headquartered in Sydney, Australia, QBE operates out of 38 countries around the globe, with a presence in every key insurance market. The North America operation, headquartered in New York, conducts business through various property and casualty insurance subsidiaries. QBE insurance companies are rated "A" (Excellent) by A.M. Best and "A+" by Standard & Poor's.