Insurance Times Awards 2022: CFC Underwriting ‘shifts the narrative’ of transaction liability cover

Explain briefly about your entry in the Excellence in Underwriting category.

Our transaction liability private enterprise (TLPE) product shifts the narrative of transaction liability cover from being a specialist class of insurance to something that is accessible. This unlocks a significant opportunity for brokers with little to no experience of M&A insurance.

Across pricing, underwriting and distribution, TLPE is an innovative product that has been created with the small business seller in mind – I truly believe it is a great example of underwriting excellence.

Sellers of SME businesses want to retire free from worries or reinvest the rewards of their hard earned success, but either way, they previously had no way to insure against innocent misrepresentations, leaving them vulnerable to hefty claims brought by their buyer. These can emerge up to seven years after a deal closes.

TLPE, however, addresses this protection gap.

We built TLPE to resemble a commercial lines policy that brokers would recognise, supported by a streamlined application process - a TLPE policy can be bound within 24 hours.

What do you think makes your entry stand out or different from your competition?

This is the first transaction liability policy designed to be distributed as a volume product for micro M&A deals. Currently, there’s nothing else like it in the market.

What would winning this award mean to you and your firm?

Quite simply, it would be huge and well deserved recognition for the vision of our transaction liability team.