PEORIA, Ill.--(BUSINESS WIRE)-- RLI Corp. (NYSE: RLI) -- RLI Insurance Company announced today that the RLI Executive Products Group has created a new Representations and Warranties Liability Insurance policy.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20151113005851/en/
RLI’s new Representations and Warranties Liability policy offers protection to buyers and sellers involved in corporate mergers and acquisitions from financial losses due to unanticipated liabilities encountered during the purchase and sale process. The policy is a single, hybrid buy-side/sell-side form that helps mitigate the risks associated with inaccuracies or breaches in contractual representations or warranties.
“The new Representations and Warranties Liability policy is designed to meet the unique needs of the executive suite and protect them from risks they may encounter in today’s dynamic and complex business environment,” said RLI Insurance Company President & COO, Michael J. Stone. “RLI offers executives comprehensive protection and peace of mind with best-in-class coverage, extensive underwriting expertise and superior claim service.”
RLI is offering Representations and Warranties coverage on a primary and excess basis to insureds that are publicly traded, privately held, or nonprofit. Primary coverage is available on any size transaction with a special emphasis on transactions valued at $50 million or less with limits up to $10 million. Excess coverage is available with limits up to $25 million.
RLI Corp. (NYSE: RLI) is a specialty insurer serving diverse, niche property, casualty and surety markets. The company provides deep underwriting expertise and superior service to commercial and personal lines customers nationwide. RLI’s products are offered through its insurance subsidiaries RLI Insurance Company, Mt. Hawley Insurance Company and Contractors Bonding and Insurance Company. All of RLI’s subsidiaries are rated A+ “Superior” by A.M. Best Company, a distinction held by fewer than 10 percent of property and casualty insurance companies in the U.S. RLI has paid and increased dividends for 40 consecutive years and delivered underwriting profits for 19 consecutive years. To learn more about RLI and its 50-year history of financial strength, visit www.rlicorp.com.
Vice President, Executive Products Group
Source: RLI Corp.