NEW YORK--(BUSINESS WIRE)--Liberty International Underwriters (LIU), part of Liberty Mutual Insurance, announced today that it has teamed with Huntersure LLC, a program administrator, to provide Transactional Liability insurance. This program will offer coverages in Representations and Warranties, Tax Liability (including Tax Opinion and Tax Credit) and Contingent Liability.
Underwritten by Huntersure and backed by the financial strength and stability of Liberty Mutual, this coverage is tailored to protect and bridge critical gaps in contracts between buyers and sellers in the M&A market ―valued last year at a record-breaking $4.7 trillion with more than 40,000 transactions announced―as well as help eliminate the need for escrow and make it easier for deals to get approved.
“Huntersure is positioning itself to be a leader in the transactional liability market. Their experience with large law and accounting firms gives them unique insight into financial and due diligence exposures and makes them an excellent partner for us in this space,” said LIU Executive Vice President of U.S. Specialty Casualty, Carl Pursiano.
LIU’s Transactional Liability product will provide up to $25 million in limits, giving brokers and agents a strong, financially stable option to help their clients get the insurance coverage they need.
“Liberty’s financial strength and solid ratings combined with the company’s focus on developing and supporting long-term relationships with MGAs make them an ideal insurance carrier for this continually expanding yet underserved market,” said Huntersure Chairman Dennis Mullins.
About Liberty Mutual Insurance
Liberty Mutual Insurance helps people preserve and protect what they earn, build, own and cherish. Keeping this promise means we are there when our policyholders throughout the world need us most.
In business since 1912, and headquartered in Boston, Mass., today Liberty Mutual is a diversified insurer with operations in 30 countries and economies around the world. The company is the fifth largest property and casualty insurer in the U.S. based on 2015 direct written premium data as reported by the National Association of Insurance Commissioners. Liberty Mutual is ranked 73rd on the Fortune 100 list of largest corporations in the U.S. based on 2015 revenue.
As of December 31, 2015, the company had $121.7 billion in consolidated assets, $102.5 billion in consolidated liabilities, and $37.6 billion in annual consolidated revenue.
Liberty employs more than 50,000 people in over 800 offices throughout the world, and we offer a wide range of insurance products and services, including personal automobile, homeowners, accident & health, commercial automobile, general liability, property, surety, workers compensation, group disability, group life, specialty lines, reinsurance, individual life and annuity products.
You can learn more by visiting www.libertymutualinsurance.com.
About Liberty International Underwriters
Part of Liberty Mutual Insurance, Liberty International Underwriters (LIU) distributes global specialty lines products and services exclusively through the independent broker network worldwide to insure specialized risk in most countries in the world. From New York to Melbourne, LIU maintains underwriting consistency that leverages substantial global capacity while giving its underwriters broad local authority to deliver creative solutions that genuinely add value.
Visit www.LIU-USA.com to learn more.
About Huntersure, LLC
Formed in 2007, Huntersure LLC is a full-service Managing General Agency (MGA) whose business focus is insurance program administration for professional liability products on behalf of a number of top-tier U.S.-based insurance companies as well as Lloyd’s of London Underwriters. Its program administration operations include specialty underwriting, quoting, binding, policy issuance, claims oversight, loss control, billing and premium collection services for its program partners in the insurance industry.
Liberty International Underwriters is the marketing name for the broker-distributed specialty lines business operations of Liberty Mutual Insurance. Certain coverage may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.