Representations & Warranties insurance
Specialist RWI coverage for North American transactions
DUAL provides tailored Representations & Warranties (RWI) insurance to help buyers and sellers manage unknown risks and move deals forward. Our policies protect your clients against financial loss arising from unknown breaches of the seller’s representations and warranties in a purchase agreement, supporting a cleaner allocation of liability between the parties.
Brown Brothers Harriman data shows U.S. private equity activity reached an estimated 9,019 deals with an aggregate value of almost $1.2 trillion in 2025. For brokers supporting buyers and sellers in this active market, RWI can help reduce retained risk, strengthen bids and keep transactions moving toward closing.
Our North American team brings deep experience across domestic and cross-border transactions, backed by a global Transactional Risk practice. This gives you local market knowledge, responsive underwriting and international support when a deal spans jurisdictions.
100+
Transactional Risk experts globally
A+ and A
S&P and A.M. Best-rated carriers
In-house claims
handled by an experienced team
What does RWI insurance cover?
Our policies generally mirror the representations and warranties in the purchase agreement, providing broad protection against unknown risks. Coverage can stand alone or be coordinated with DUAL Tax Liability insurance where a transaction also involves a known tax exposure.
Covered risks include:
- Good title and the seller's capacity to sell
- Accuracy of the financial statements
- Compliance with relevant laws and regulations
- Absence of litigation or tax liabilities
- Validity of commercial contracts and intellectual property

Who we work with
We work with brokers and advisors to arrange tailored RWI coverage for clients involved in small- to middle-market domestic and cross-border M&A, including:
- Private equity funds
- Institutional investors
- Financial institutions
- Advisors
- Corporations
- Alternative investment managers
Whatever the transaction, our team is ready to build a tailored RWI solution for your client.
Target classes
We specialize in RWI coverage for small- to middle-market transactions across North America, including cross-border deals. Every transaction is considered on its own merits. Speak to our team to discuss your client’s deal. Our risk appetite includes:
SaaS, technology and AI
Manufacturing
Distributors
Financial services and insurance
Construction, installation, maintenance and HVAC
Professional services
Food and beverage
Consumer products and services
Midstream and downstream oil and gas
Government contractors
Underwriting requirements
Move from initial terms to full underwriting through a clear two-stage process.
Stage 1: Indicative terms
To prepare indicative terms, we’ll need the basic deal parameters, including the industry, jurisdiction, transaction structure and enterprise value. We’ll also ask for:
- Draft purchase agreement or latest term sheet, if available
- Confidential information memorandum or other deal materials, if available
- Financial statements, if available
Stage 2: Full underwriting
To begin full underwriting, we’ll need:
- Virtual data room access
- Third-party and internal due diligence reports
- Disclosure schedules
- Responses to our underwriting questions
Claims
DUAL Transactional Risk aims to provide a best-in-class claims function. Our approach on every notification we receive is built around three principles:
- Prompt engagement
- Clear analysis
- Fair outcomes
For more information, including claims team contact details, please visit our global Transactional Risk claims page.
$400+ million
paid in claims since 2022
7 specialist
claims professionals
Document downloads
Product resources
Contact the expert

Our global Transactional Risk team
Visit our meet the team page to view the full Transactional Risk team for each product and region, including direct contact details for inquiries and support.
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