Contingent Risk insurance

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Risk appetiteWhat we look for in a riskKey benefitsContact
Contingent

DUAL’s Contingent Risk team is one of the leading contingent risk teams in the market

The team, based in London, sits within DUAL’s global Transactional Risk group, offering tailored insurance solutions for clients across a wide range of M&A transactions as well as standalone contingent and tax exposures and title risks.  
 
As a global practice, DUAL has 100+ experts on the ground across 17 underwriting locations. Our presence spans the UK, Europe, North America, Latin America, Middle East, and the Asia-Pacific.  

The model combines global breadth with strong local market expertise, with dedicated claims teams, ensuring our underwriting remains tailored to regional dynamics while benefiting from shared technology, analytics and governance frameworks. 

100+

Transactional Risk experts globally

Global

Underwriting solutions in every continent

A rated

capacity provider

Global risk appetite

Our coverage is designed to meet the needs of businesses involved in transactions around the world. We have expertise in arranging cover for a wide range of clients, including:

  • Private equity funds

  • Institutional investors

  • Financial institutions

  • Corporations

  • Insolvency practitioners

  • Financial advisors

What we look for in a risk

Our insureds typically are motivated to buy insurance because they wish to obtain some commercial advantage from insurance rather than being concerned about the underlying risk.

For example, a client might use our insurance to:  

  • Facilitate a transaction by taking an issue off the negotiating table.  
  • Obtain preferential bank financing where a lender’s risk tolerance is below normal commercial levels.
  • Enable liquidators, administrators or trustees to distribute funds before a statute of limitation expires. 
  • Increase the availability of investors (eg pension funds) by changing the risk profile of an asset, to meet reserving. requirements.  

Our underwriting must conclude that the risk is low / remote. 

If necessary, we will obtain third party expert opinion to assist with our underwriting. 

Often, there are multiple triggers to a loss under the policy. These triggers include, for example: 

  • Contractual breaches.  
  • Regulatory investigations. 
  • System/control failures.
  • Insolvency.  

All of the risks that we insure are risk transfer policies and could be insured by more traditional insurance groups. 

It is not because of the perception of risk that more traditional teams do not insure them. Often, the claim trigger does not fit within a reinsurance treaty or underwriting information is presented in an unfamiliar way to the particular underwriter. The structuring around the risk is also often more complicated or time-intensive.

Contingent

Key benefits

Our Contingent Risk offering is one of the leading covers in the market enabling clients to unlock capital, progress deals and gain a commercial advantage otherwise impossible or too expensive without insurance.

  • Broad appetite

  • Commercial approach

  • Low execution risk

  • One of the largest and most experienced teams in the market

Typical underwriting process

Timeframes

  • We aim to provide an informal view of the risk as quickly as we can. 
  • Terms may take 2 to 4 business days. 
  • Underwriting usually takes 2 to 3 weeks to provide a policy. 

Policy terms:

  • We provide bespoke policies which are tailored to cover the risk. Cover is drafted specifically for the risk in question.
  • We include material retentions (horizontal and/or co-insurance) to align interests.
  • We often offer novel solutions.
  • Policy terms detail the cover, loss, claims process as well as customary conduct obligations during the policy term.

Fees:

  • We charge underwriting fees due to the time and cost of reviewing the risk and structuring the solution. 
  • Normally these will be €/£/$ 10k to 25k unless the risk is large, complex or has some other unusual feature.
Contingent

Strategic uses

Contingent Risk insurance covers identified legal, regulatory, commercial and operational risks. Policies have a variety of strategic uses, including:

  • Facilitating a transaction 

  • Distributing assets to investors and creditors 

  • Attracting new investors 

  • Obtaining more advantageous funding terms

Meet the team

See our full global Transactional Risk team

Visit our meet the team page to find the correct team member for your product and region, including their direct contact details for enquiries and support.

Meet the team
Contingent

Underwriting locations

Global capability, local knowledge.

Wherever you are in the world, our local experts are ready to support you.

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