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Warranty and Indemnity (W&I)

Markel International offers tailored Warranty & Indemnity (W&I) insurance to protect either buyers or sellers in mergers and aquisitions (M&A) transactions.

What we offer

Our coverage is designed to support the successful execution of M&A by protecting against financial losses arising from breaches of warranties or claims under the tax covenant in the share or asset purchase agreement.


We insure deals across most sectors with particular expertise in:

  • Professional services
  • Financial institutions
  • Technology
  • Media
  • Consumer
  • Energy

Experienced and knowledgeable team


As a balance sheet insurer that has written W&I insurance for over 10 years, we are also well-positioned to offer single counterparty recourse excess capacity where relevant for larger transactions.

By leveraging Markel’s experience in its chosen sectors, we evaluate the core risk areas of the business being sold to insure the unknown risks that always remain after sensible due diligence.

Whether it is title, the accounts, compliance with laws, contractual, IP or tax – we can help remove uncertainty in the information underlying the value of the target company or assets.

This allows for:

  • Clean exit for the seller
  • Strong single counterparty recourse for the buyer
  • Bid enhancement for prospective buyers
  • Commercially-minded portfolio approach
  • Streamlined, fast underwriting
  • Bespoke terms
  • Multi-line insurance support
  • Dedicated and aligned claims-handling

Our primary focus is on smaller transaction sizes, supporting enterprise values up to USD/GBP/EUR 300M, whilst specialising in W&I solutions for the USD/GBP/EUR 1M–100M range.

Although we can support insureds on a worldwide basis (excluding sanctioned and non-licensed territories), our appetite is confined to target companies or assets located in the UK or Europe.

Our cover is for breaches of warranties and claims under the tax covenant in the purchase agreement for the sale and purchase of shares in a company or assets.

We typically write business on a primary basis and can offer line sizes up to USD/GBP/EUR 25m on Company or Lloyd's paper.

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